Capacity Payment Option B - Firm Capacity Purchase Sample Clauses

The 'Capacity Payment Option B - Firm Capacity Purchase' clause establishes the terms under which a buyer commits to purchasing a specified amount of firm capacity from a seller, typically in the context of energy or utility agreements. This clause details the obligations of both parties regarding the quantity of capacity to be provided, the payment structure for securing that capacity, and any conditions or limitations associated with the purchase. For example, it may specify that the buyer pays a fixed fee to reserve a certain level of energy generation capacity, regardless of actual usage. The core function of this clause is to ensure the buyer has guaranteed access to a reliable supply of capacity, thereby managing supply risk and providing financial certainty for both parties.
Capacity Payment Option B - Firm Capacity Purchase. If Seller selects Capacity Payment Option B, Seller shall provide to Edison for the Contract Term the Contract Capacity specified in Section 1.5, or as adjusted pursuant to Section 9.1.2.7, and Seller shall be paid as follows: 9.1.2.1 If Seller meets the performance requirements set forth in Section 9.1.2.2, Seller shall be paid a Monthly Capacity Payment, beginning from the date of Firm Operation equal to the sum of the on-peak, mid-peak, and off-peak Capacity Period Payments. Each capacity period payment is calculated pursuant to the following formula: Where A = Contract Capacity Price specified in Section 1.11 based on the Standard Offer No. 2 Capacity Payment Schedule as approved by the Commission and in effect on the date of the execution of this Contract.
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Capacity Payment Option B - Firm Capacity Purchase. If Seller selects Capacity Payment Option B, Seller shall provide to Edison for the Contract Term the Capacity specified in Section 3.6, or as adjusted pursuant to Section 13.3, and Seller shall be paid as follows: 15.2.2.1 If Seller meets the performance requirements set forth in Section 15.2.2.2, Seller shall be paid a Monthly Capacity Payment, beginning from the date of Firm Operation equal to the sum of the on-peak, mid-peak, and off-peak Capacity Period Payments. Each capacity period payment is calculated pursuant to the following formula: Monthly Capacity Period = A x B x C x D Payment Where A = Capacity Price specified in Section 15.1 based on the Capacity Payment Schedule contained in Edison's Standard Offer No. 2 for Firm Power Purchases in effect at the time of Amendment No. 1 execution.
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Capacity Payment Option B - Firm Capacity Purchase. If Seller selects Capacity Payment Option B, Seller shall provide to Edison for the Contract Term the Contract Capacity specified in Section 1.3, and Seller shall be paid as follows:’’ 1.23 The definition of the formula values A, C, & D in Section 8.1.2.1 shall be deleted and replaced as follows: ‘‘Where A = Contract Capacity Price specified in Section 1.8’’ ‘‘C = Contract Capacity of 46,500 kW as specified in Section 1.3’’ ‘‘D = Period Performance Factor, not to exceed 1.0, is calculated using 53,000 kW for Contract Capacity as specified in Section 1.3, as follows: [Period kWh Purchased by Edison Period Performance Factor = (Limited by the Level of Contract Capacity)] [0.8 x Contract Capacity x (Period Hours minus Maintenance Hours Allowed in Section 4.5)]’’ 1.24 The definition of the formula values ‘‘A and D’’ in Section 8.1.2.4c shall be deleted and replaced as follows: ‘‘Where A = (1.2 x On-Peak Capacity Factor) − 1.02 Where the On-Peak Capacity Factor, not to exceed 1.0, is calculated using 53,000 kW for Contract Capacity as specified in Section 1.3, as follows: [Period kWh Purchased by Edison On-Peak Capacity Factor = (Limited by the Level of Contract Capacity)] [(Contract Capacity) x (Period Hours minus Maintenance Hours Allowed in Section 4.5)]’’ ‘‘D = Contract Capacity of 42,000 kW, as specified in Section 1.3.’’ 1.25 Section 8.1.2.5 shall be deleted and replaced as follows:
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Related to Capacity Payment Option B - Firm Capacity Purchase

  • CASH SETTLEMENT OPTION The undersigned Existing Tranche C Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and having 100% of the outstanding principal amount of the Tranche C Term Loans held by such Existing Term Lender repaid on the Third Amendment Effective Date and to purchase by assignment Tranche D Term Loans in a like principal amount. By choosing this option, each undersigned Lender hereby acknowledges and agrees that the Administrative Agent may, in its sole discretion, elect not to allocate to such Lender or to allocate less than 100% of the principal amount of such Lender’s Tranche C Term Loans in Tranche D Term Loans. Northwoods Capital XIV, Limited By: ▇▇▇▇▇▇, ▇▇▇▇▇▇ & Co., LP As Collateral Manager By: /s/ ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇▇ Title: Authorized Signatory ☑ CASHLESS ROLLOVER OPTION Each undersigned Existing Tranche C Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and the exchange (on a cashless basis) of 100% of the outstanding principal amount of the Tranche C Term Loans held by such Lender for a Tranche D Term Loan in a like principal amount. By choosing this option, each undersigned Lender hereby acknowledges and agrees that the Administrative Agent may, in its sole discretion, elect not to exchange any amount of such Lender’s Tranche C Term Loans for Tranche D Term Loans or to exchange (on a cashless basis) less than 100% of the principal amount of such Lender’s Tranche C Term Loans for Tranche D Term Loans, in which case the difference between the current principal amount of such Lender’s Tranche C Term Loans and the allocated principal amount of Tranche D Term Loans will be prepaid on, and subject to the occurrence of, the Third Amendment Effective Date.

  • Alternative Tenders 12.1 Unless otherwise specified in the TDS, alternative Tenders shall not be considered.

  • Assignment Settlement Option ☐ The undersigned Lender hereby agrees to have an amount equal to 100% of the outstanding principal amount of the Existing Term Loans held by such Lender prepaid on the Third Amendment Effective Date and to purchase by assignment 2020 Refinancing Term Loans in an equal principal amount (or such lesser amount allocated to such Lender by the Administrative Agent). ​ ARES L CLO LTD., as a 2020 Refinancing Term LenderBy: Ares CLO Management LLC, its asset manager By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ​ Name:▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ​ Title:Authorized Signatory ​ ​ ​ ☒ The undersigned Lender hereby commits an amount equal to 100% of the outstanding principal amount of the Existing Term Loans held by such Lender to be 2020 Refinancing Term Loans and agrees to exchange (on a cashless basis) 100% of the outstanding principal amount of the Existing Term Loans (or such lesser amount allocated to such Lender by the Administrative Agent) held by such Lender for 2020 Refinancing Term Loans in an equal principal amount.

  • Cashless Settlement Option ☐ to convert 100% of the outstanding principal amount of the Original Term Loans held by such Original Term Loan Lender (or such lesser amount allocated to such Lender by the First Refinancing Amendment Arranger) into Term B Loans in a like principal amount. ☒ to have 100% of the outstanding principal amount of the Original Term Loans held by such Original Term Loan Lender prepaid on the First Refinancing Amendment Effective Date and purchase by assignment the principal amount of Term B Loans committed to separately by the undersigned (or such lesser amount allocated to such Lender by the First Refinancing Amendment Arranger).

  • Settlement Method Election Date The third Scheduled Trading Day immediately preceding the First Expiration Date.