Availability Guaranty Sample Clauses

Availability Guaranty. Seller guarantees that, as calculated by the thirtieth (30th) Day of each Invoice Month following the Commercial Operation Date, the Facility shall have achieved (a) a Mechanical Availability Percentage of 96% for operations during the months of June, July, August, September, October, December, January and February; and (ii) a Mechanical Availability Percentage of 94% for operations during the months of November, March, April and May. For purposes of this Agreement, except as provided in the Dispatch Agreement, Mechanical Availability Percentage shall be calculated using the following equation: N ÷ N' WHERE: N = the number of MW-hrs the Facility delivered Energy to Department during the immediately preceding month N' = the number of MW-hrs Department requested Seller to deliver Energy to Department from the Facility during the immediately preceding month pursuant to Section 2.04, provided, however, that such number shall not exceed the Contract Capacity for any Period in the immediately preceding month
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Availability Guaranty. The Capacity Payment paid or payable in each month shall be subject to adjustment (by the Seller paying a rebate or earning a bonus, as the case may be) so as to equal the Adjusted Capacity Payment (“ACP”). Where: If EA > 0.97 for the Summer Season or > 0.94 for the Winter Season ACP = [1+ (EA-Bonus Target EA)/ Bonus Target EA)] x [capacity payment paid or payable]. If EA≤ 0.97 for the Summer Season or ≤ 0.94 for the Winter Season ACP = [lesser of: 1.0 and 1- (2*(Target XX-XX)/Target EA)] x [capacity payment paid or payable]. EA = (Summation of Hourly Availability Factors for Monthly Availability Hours) / (# of Monthly Availability Hours in month) Hourly Availability Factor is determined for each Monthly Availability Hour as the quotient of (a) the capacity reflected in Seller’s Availability Notice applicable for such hour, divided by (b) the Hourly Ambient Capacity for such hour. Bonus Target EA = 0.97 for the Summer Season or 0.94 for the Winter Season. Target EA = 0.95 for the Summer Season or 0.92 for the Winter Season. The Summer Season is the months May through October. The Winter Season is the months November through April.
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Availability Guaranty. (A) On or before sixty (60) days after the Commercial Operation Date, Seller shall provide Buyers with the Production Model. The Production Model shall be used to calculate the Expected Amount. If a Party believes that the Production Model is inaccurate, such Party may propose an adjustment to the Production Model, and if the Parties are not able to resolve such issues within sixty (60) Days of the initial notice of the suspected inaccuracy, then the Parties shall submit such dispute to an independent engineering company with experience with solar production models to resolve such issue.
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Availability Guaranty. (A) On or before the date that is sixty (60) Days after the Commercial Operation Date, Seller shall provide Buyers with the Production Model. The Production Model shall be used for purposes of calculating Expected Amounts and any amount of Deemed Delivered Energy. Periodically throughout the Term but no more often than twice in each Year during the Term, if a Party believes that the Production Model does not contain the proper variables or inputs or yields incorrect results when it is used to calculate an Expected Amount or any amount of Deemed Delivered Energy, such Party may propose an adjustment or correction to the Production Model, and if the Parties are not able to resolve such issues within sixty (60) Days of the initial notice of the suspected inaccuracy, then the Parties shall submit such dispute to an independent engineering company with experience with solar production models to resolve such issue and selected by Seller in its reasonable discretion.
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Availability Guaranty. [Discuss]
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Availability Guaranty 
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Related to Availability Guaranty

  • Reaffirmation of Credit Party Obligations Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations.

  • Performance by Borrower Borrower shall in a timely manner observe, perform and fulfill each and every covenant, term and provision of each Loan Document executed and delivered by, or applicable to, Borrower, and shall not enter into or otherwise suffer or permit any amendment, waiver, supplement, termination or other modification of any Loan Document executed and delivered by, or applicable to, Borrower without the prior written consent of Lender.

  • Waiver by Guarantor The Guarantor hereby waives:

  • to Credit Agreement COLLATERAL REPORTS Borrower shall deliver or cause to be delivered the following:

  • Release by Borrower A. FOR GOOD AND VALUABLE CONSIDERATION, Borrower hereby forever relieves, releases, and discharges Bank and its present or former employees, officers, directors, agents, representatives, attorneys, and each of them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs and expenses, actions and causes of action, of every type, kind, nature, description or character whatsoever, whether known or unknown, suspected or unsuspected, absolute or contingent, arising out of or in any manner whatsoever connected with or related to facts, circumstances, issues, controversies or claims existing or arising from the beginning of time through and including the date of execution of this Loan Modification Agreement (collectively “Released Claims”). Without limiting the foregoing, the Released Claims shall include any and all liabilities or claims arising out of or in any manner whatsoever connected with or related to the Loan Documents, the recitals hereto, any instruments, agreements or documents executed in connection with any of the foregoing or the origination, negotiation, administration, servicing and/or enforcement of any of the foregoing.

  • Reaffirmation of Credit Agreement This Amendment shall be deemed to be an amendment to the Credit Agreement, and the Credit Agreement, as amended hereby, is hereby ratified, approved and confirmed in each and every respect. All references to the Credit Agreement herein and in any other document, instrument, agreement or writing shall hereafter be deemed to refer to the Credit Agreement as amended hereby.

  • Payment by Guarantors Subject to Section 7.2, Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of Borrower to pay any of the Guaranteed Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), Guarantors will upon demand pay, or cause to be paid, in Cash, to Administrative Agent for the ratable benefit of Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for Borrower’s becoming the subject of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Beneficiaries as aforesaid.

  • The Credit Agreement (b) The Notes executed by the Borrower and delivered on the date hereof. The documents described in the foregoing clauses (a) and (b) are collectively referred to herein as the “Opinion Documents.” We have also reviewed originals or copies of such other agreements and documents as we have deemed necessary as a basis for the opinion expressed below. In our review of the Opinion Documents and other documents, we have assumed:

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