Change in Rated Capacity Sample Clauses

Change in Rated Capacity. The maximum bonus or liquidated damages capable of being earned by or assessed against Operator in the Change in Rated Capacity category of the AFAA in any Project Year respectively shall be Ten Thousand Hundred and 00/100 Dollars ($10,000.00) and Six Thousand Six Hundred Sixty-eight and 00/100 Dollars ($6,668.00). As incentive to attain the level of Rated Capacity required by Owner, Operator shall be entitled to receive a bonus or, alternatively, be assessed liquidated damages in the Change in Rated Capacity category of the AFAA based on the results of the semi-annual PJM Net Capability Verification Test compared with the results of the semi-annual PJM Net Capability Verification Test conducted during the corresponding period in the immediately preceding Project Year (the "Target Rated Capacity"); provided, however, if either Owner or Operator desires not to use the results of the semi-annual PJM Net Capability Verification Test conducted during the corresponding period in the immediately preceding Project Year as the Target Rated Capacity, then the Target Rated Capacity shall be mutually agreed to be Owner and Operator. The Target Rated Capacity shall reflect wear and tear degradation, maintenance and output improvements. If Owner and Operator can not agree prior to the running of such test, then the Target Rated Capacity for such test shall be the Rated Capacity as demonstrated by the semi-annual PJM Net Capability Verification Test conducted during the corresponding period in the immediately preceding Project Year. By no later than forty-five (45) days prior to each semiannual PJM Net Capability Verification Test, Operator shall prepare and submit for Owner's approval a plan for such PJM Net Capability Verification Test (the "Test Plan") Which shall clearly identify the measures to be taken by Operator to meet the Target Rated Capacity. The Test Plan shall be subject to Owner approval, provided, however, in the event that Owner objects to all or any portion of the Test Plan, Owner shall notify Operator in writing and Owner and Operator shall promptly meet to resolve any differences in order to establish an approval Test Plan by no later than twenty (20) days prior to the annual PJM Net Capability Verification Test. For each PJM Net Capability Verification Test conducted during a Project Year, Operator shall be entitled to receive a bonus of Five Thousand and 00/100 Dollars ($5,000.00) in the Change in Rated Capacity category of the AFAA if the Rated Ca...
Sample 1
AutoNDA by SimpleDocs

Related to Change in Rated Capacity

  • Change in Control Period “Change in Control Period” means the period of time beginning three (3) months prior to and ending twelve (12) months following a Change in Control.

  • Status Change Upon the termination of the Optionee’s Employment, this Option shall continue or terminate, as and to the extent provided in the Plan and this Agreement.

  • Employment After a Change in Control If a Change in Control of the Company (as defined in Section 12) occurs during the Change in Control Period and the Executive is employed by the Company on the date the Change in Control occurs (the “Change in Control Date”), the Company will continue to employ the Executive in accordance with the terms and conditions of this Agreement for the period beginning on the Change in Control Date and ending on the third anniversary of such date (the “Employment Period”). If a Change in Control occurs on account of a series of transactions, the Change in Control Date is the date of the last of such transactions.

  • After a Change in Control (i) From and after the date of a Change in Control (as defined in section 3(a) hereof) during the term of this Agreement, the Company shall not terminate the Employee from employment with the Company except as provided in this section 2(b), or as a result of the Employee's Disability (as defined in section 3(d) hereof) or his death.

  • Change in Fiscal Year Such Obligor will not, and will not permit any of its Subsidiaries to, change the last day of its fiscal year from that in effect on the date hereof, except to change the fiscal year of a Subsidiary acquired in connection with an Acquisition to conform its fiscal year to that of Borrower.

  • Covered Termination During a Change in Control Period If Executive experiences a Covered Termination during a Change in Control Period, and if Executive delivers to the Company a Release of Claims that becomes effective and irrevocable within sixty (60) days, or such shorter period of time specified by the Company, following such Covered Termination, then in addition to any accrued but unpaid salary, bonus, vacation and expense reimbursement payable in accordance with applicable law, the Company shall provide Executive with the following:

  • Termination After a Change in Control You will receive Severance Benefits under this Agreement if, during the Term of this Agreement and after a Change in Control has occurred, your employment is terminated by the Company without Cause (other than on account of your Disability or death) or you resign for Good Reason.

  • Change in Status If your role within the Company changes during the Performance Cycle such that you would no longer be eligible to receive Growth Plan Units, this Agreement shall remain in full force and effect as if no such change had occurred.

  • Change of Control/Change in Management (i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person will be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 35% of the total voting power of the then outstanding voting stock of the Parent;

  • Termination Due to Change in Control If the Company terminates Executive's employment without Cause (and for reasons other than death or Disability) in conjunction with a Change in Control (as defined below), Executive shall be entitled to receive all accrued but unpaid salary and benefits through the date of termination plus the Change in Control Benefit (as defined below).

Time is Money Join Law Insider Premium to draft better contracts faster.