Residual Term definition

Residual Term means that period of time commencing at the beginning of the hour ending 01:00 hours (EST) on the day after the Facility End Date, and ending at 24:00 hours (EST) on the date that is one year after the Facility End Date (which date shall be no later than June 30, 2027).
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Residual Term means the number of unexpired years of the Contractual Term, rounded up to the nearest year subject to paragraph 1.3 below.
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Residual Term has the meaning set forth in SECTION 12.1.3 (RESIDUAL TERM).
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Examples of Residual Term in a sentence

  • The Demand Charge shall not apply during the Residual Term, if applicable.

  • The Non-Performance Adjustment for a Pilot Year will be calculated at the end of such Pilot Year in accordance with Section 6.2, and will be applied to the Participant’s Monthly Settlements in the following Pilot Year, or during the Residual Term, as applicable.

  • The expiration of the Term or the Residual Term, as applicable, or a termination of this Agreement shall not affect or prejudice any rights or obligations that have accrued or arisen under this Agreement prior to the time of expiration or termination and such rights and obligations shall survive the expiration of the Term or the Residual Term, as applicable, or the termination of this Agreement for a period of time equal to the applicable statute of limitations.

  • The Over-Performance Adjustment for a Pilot Year will be calculated at the end of such Pilot Year in accordance with Section 6.2, and will be applied to the Participant’s Monthly Settlements in the following Pilot Year, or during the Residual Term, as applicable.

  • The price payable by the Landlord to the Tenant for the Equipment shall be calculated as follows (Price): A/C  x B Where: A = Residual Term B = Equipment Cost C = Contractual Term For the purposes of calculating the Price: Contractual Term: shall be the original Contractual Term excluding any right to terminate the lease.

  • The provisions of Sections [1.1 to 1.6, 1.8 to 1.12, 2.1(c), 2.1(e), 2.2, Article 5, Article 6, Article 8, Sections 10.2, 10.4, 10.5, Article 11, Sections 12.2, 13.1, 13.2, 13.5(c), and 13.7] shall survive the expiration of the Term or the Residual Term, as applicable, or earlier termination of this Agreement.

  • As more fully specified in Exhibit J, the Over-Performance Adjustment will be calculated for each Interruption Hour in the applicable Pilot Year in which the Facility’s Actual Demand is less than the Over-Performance Threshold and theAny Over-Performance Adjustments will be settled in the subsequent Pilot Year or the Residual Term, as applicable.

  • The Over-Performance Adjustment for a Pilot Year will be calculated at the end of such Pilot Year, and will be applied to the Participant’s Monthly Settlements in the following Pilot Year, or during the Residual Term, as applicable.

  • Draft The Non-Performance Adjustment for a Pilot Year will be calculated at the end of such Pilot Year, and will be applied to the Participant’s Monthly Settlements in the following Pilot Year, or during the Residual Term, as applicable.

  • Unless otherwise specified on an applicable Schedule, Participant will provide Spectra with the Participant Products to be used (i) in conjunction with the Testing Services, (ii) in the support of mutual customers, and/or (iii) for demonstrations of such Participant Products' interoperability with the Spectra Product to customers, during the term of the applicable Schedule and any Residual Term thereafter.


More Definitions of Residual Term

Residual Term shall commence upon the expiration of the Commitment Term and continue as provided in Section 10.1(ii). As of such commencement of the Residual Term, CV Therapeutics’ obligations under Section 3.4(e) and 4.1(g), and any other obligation related to CV Therapeutics Minimum Commitments, shall terminate. All other obligations of the Parties under this Agreement shall continue in full force and effect, including, but not limited to, Solvay’s obligation to continue to compensate CV Therapeutics according to Section 4.
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Related to Residual Term

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • Renewal Term has the meaning set forth in Section 2.

  • Remaining Present Value means, as of any date with respect to any lease, the present value as of such date of the scheduled future lease payments with respect to such lease, determined with a discount rate equal to a market rate of interest for such lease reasonably determined at the time such lease was entered into.

  • ALG Residual Value means the residual value of the vehicle set forth as the ALG Residual Value in the Lease schedule attached as Exhibit A hereto, which shall be the lesser of (i) the ALG residual values of the 2012-1 Vehicles at the scheduled termination of the related 2012-1 Leases at the time the related 2012-1 Lease was signed and (ii) the ALG residual values of the 2012-1 Vehicles at the scheduled termination of the related 2012-1 Leases provided by ALG in February 2012.

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Base Residual Value means, for a Lease, the lower of (a) the Contract Residual Value of the Lease and (b)(i) the ALG Residual Value of the related Leased Vehicle or (ii) if the Servicer does not have an ALG Residual Value, the oldest ALG MTM Residual Value that the Servicer has for the related Leased Vehicle.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Residual Auction Revenue Rights means incremental stage 1 Auction Revenue Rights created within a Planning Period by an increase in transmission system capability, including the return to service of existing transmission capability, that was not modeled pursuant to Operating Agreement, Schedule 1, section 7.5 and the parallel provisions of Tariff, Attachment K- Appendix, section 7.5 in compliance with Operating Agreement, Schedule 1, section 7.4.2 (h) and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.2(h), and, if modeled, would have increased the amount of stage 1 Auction Revenue Rights allocated pursuant to Operating Agreement, Schedule 1, section 7.4.2 and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.2; provided that, the foregoing notwithstanding, Residual Auction Revenue Rights shall exclude: 1) Incremental Auction Revenue Rights allocated pursuant to Tariff, Part VI; and 2) Auction Revenue Rights allocated to entities that are assigned cost responsibility pursuant to Operating Agreement, Schedule 6 for transmission upgrades that create such rights.

  • Initial Term has the meaning set forth in Section 7.1.

  • Extension Term means the time period defined in §2.C.

  • Residual Value means the proceeds, less removal and disposal costs, if any, realized upon disposition of a tangible capital asset. It usually is measured by the net proceeds from the sale or other disposition of the asset, or its fair value if the asset is traded in on another asset. The estimated residual value is a current forecast of the residual value.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Loan Commencement Date means, with respect to each Loan, the first Business Day of the calendar month following the Funding Date of such Loan.

  • Additional Term shall have the meaning set forth in Section 8.2.

  • Residual Metered Load means all load remaining in an electric distribution company’s fully metered franchise area(s) or service territory(ies) after all nodally priced load of entities serving load in such area(s) or territory(ies) has been carved out.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Concession Period means the period starting on and from the Appointed Date and ending on the Transfer Date;

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Residual Gain or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or Section 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Planning Period Balance means the entire period of time remaining in the Planning Period following the month that a monthly auction is conducted.

  • Base Residual Auction means the auction conducted three years prior to the start of the Delivery Year to secure commitments from Capacity Resources as necessary to satisfy any portion of the Unforced Capacity Obligation of the PJM Region not satisfied through Self- Supply.