Damages Calculation. In accordance with the provisions in Section 3.1(e)(ii), GEP Damages means the liquidated damages payment due by Seller to Buyer, calculated as follows: [(A-B) X (C-D)] Where: A = the Guaranteed Energy Production for the Performance Measurement Period, in MWh B = Sum of Delivered Energy over the Performance Measurement Period, in MWh C= Replacement Price for the Performance Measurement Period, in $/MWh, reflecting the sum of (a) the simple average of the simple average of the Day Ahead Integrated Forward Market hourly price, as published by the CAISO, for the Existing Zone Generation Trading Hub, in which the Project resides, plus (b) $50/MWh D = the unweighted Contract Price specified in the Cover Sheet for the Performance Measurement Period, in $/MWh The Parties agree that in the above calculation of GEP Damages, the result of β(C-D)β shall not be less than $20/MWh and shall be no greater than seventy five percent (75%) of the Contract Price (in $/MWh) set forth in the Cover Sheet.
Appears in 3 contracts
Sources: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement