Common use of Capacity Charges Clause in Contracts

Capacity Charges. Notwithstanding anything to the contrary set forth in this Agreement, Seller shall bear all risk and responsibility with respect to any costs or credit requirements (including the posting of applicable credit support) related to its compliance with the PJM Capacity Rules in connection with the Capacity Value and the Cleared Capacity Value of the Project for any Capacity Year and the transfer to Buyer of the Contract Capacity Amount for such Capacity Year pursuant to this Agreement, including any and all charges or costs, including capacity deficiency charges, assessed by PJM or otherwise against Seller (collectively, the “Capacity Charges”). If PJM bills or credits Buyer for any charges, costs or other amounts related to any Capacity Charges, Buyer shall deliver such invoice or statement to Seller and Seller shall pay such invoice or otherwise settle such amounts by the later of the due date (if applicable) or ten

Appears in 2 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement