Annualized Average Calculation Clause Samples

Annualized Average Calculation. (A) Paragraph A. of Article 3.2 of the February Agreement is amended to read as follows: A. Any hour that Seller does not have at least 65,000 pounds per hour of Deliverable Steam available for Buyer shall be excluded from the annual average calculation. Any steam purchased by Buyer from Seller during any such hour shall also be excluded from the annual average calculation. If this occurs between September 1 and May 31 of any year, then Buyer shall be credited for 15,000 pounds for each hour of unavailability. At Buyer's discretion, the provisions of this paragraph may be waived with written notice to Seller within thirty (30) days of the date of such waiver so long as such waiver applies to each of the foregoing provisions of this paragraph (3.2A).
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Annualized Average Calculation. A. Any hour that Seller does not have at least 50,000 pounds per hour of Deliverable Steam available for Buyer shall be excluded from the annual average calculation. Any steam purchased by Buyer from Seller during any such hour shall also be excluded from the annual average calculation. If this occurs between September 1 and May 31 of any year, then Buyer shall be credited for 15,000 pounds for each hour of unavailability. At Buyer's discretion, the provisions of this paragraph may be waived with written notice to Seller within thirty (30) days of the date of such waiver so long as such waiver applies to each of the foregoing provisions of this paragraph (3.2A). B. Any hour that Buyer's steam demand, including sales by Buyer, is under 75,000 pounds per hour shall also be excluded from the annualized average calculation, along with any steam purchase by Buyer from Seller during the same period. If this occurs between September 1 and May 31 of any year, then Buyer shall also be credited for 15,000 pounds for each such hour as provided herein (3.2B). C. The 35,000 pound per hour annual average is based on Buyer's 1986 actual and projected steam demand for its operation, including outside sales. Buyer shall have the right to reduce the 35,000 pound per hour annual average to the extent that Buyer demonstrates that there are changes in Buyer's operation, including outside sales, which will result in lower annual steam requirements, provided, however, that in such event, Seller's 50,000 pounds per hour minimum Deliverable Steam obligation shall be reduced on a pro rata basis. (See Appendix C.) Such right may be exercised no earlier than sixty (60) days after Buyer presents supporting documentation to Seller.
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Related to Annualized Average Calculation

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Calculation Dates The interest rate applicable to each Interest Reset Period will be determined by the Calculation Agent on or prior to the Calculation Date (as defined below), except with respect to LIBOR, which will be determined on the particular Interest Determination Date. Upon request of the Holder of a Floating Rate Note, the Calculation Agent will disclose the interest rate then in effect and, if determined, the interest rate that will become effective as a result of a determination made for the next succeeding Interest Reset Date with respect to such Floating Rate Note. The “Calculation Date”, if applicable, pertaining to any Interest Determination Date will be the earlier of: (1) the tenth calendar day after the particular Interest Determination Date or, if such day is not a Business Day, the next succeeding Business Day; or (2) the Business Day immediately preceding the applicable Interest Payment Date or the Maturity Date, as the case may be.

  • Calculation of Charges Contractor shall provide an invoice to the City on a monthly basis for goods delivered and/or Services completed in the immediate preceding month, unless a different schedule is set out in Appendix B, “Calculation of Charges.” Compensation shall be made for goods and/or Services identified in the invoice that the City, in his or her sole discretion, concludes has been satisfactorily performed. In no event shall the amount of this Agreement exceed [insert whole dollar amount in numbers and words -- no pennies and no “.00”]. The breakdown of charges associated with this Agreement appears in Appendix B, “Calculation of Charges.” A portion of payment may be withheld until conclusion of the Agreement if agreed to by both Parties as retainage, described in Appendix B. In no event shall City be liable for interest or late charges for any late payments. City will not honor minimum service order charges for any services covered by this Agreement.

  • CALCULATION OF NET ASSET VALUE U.S. Trust will calculate the Fund's daily net asset value and the daily per-share net asset value in accordance with the Fund's effective Registration Statement on Form N-2 (the "Registration Statement") under the Securities Act of 1933, as amended (the "Securities Act"), including its current prospectus. If so directed, U.S. Trust shall also calculate daily the net income of the Fund