Energy Yield Guaranty Sample Clauses

An Energy Yield Guaranty clause ensures that a specified energy system, such as a solar or wind installation, will produce a minimum amount of energy over a defined period. Typically, this clause sets performance benchmarks and outlines remedies if the system fails to meet the guaranteed output, such as financial compensation or corrective actions by the provider. Its core function is to allocate performance risk and provide assurance to the purchaser or operator that the system will deliver the expected energy output, thereby protecting their investment and supporting project financing.
Energy Yield Guaranty. (a) Seller shall be required to demonstrate from time to time that the Energy Yield Guaranty has been satisfied, as more particularly described in Section 4 of the Scope Book. If the final run of the Substantial Completion Energy Model has been performed, the final results of such run do not demonstrate that the PV Plant has satisfied the Energy Yield Guaranty, and, pursuant to Section 4 of the Scope Book, Seller has elected to pay Energy Yield Liquidated Damages in lieu of curing such failure, the Substantial Completion Payment Amount shall be reduced by an amount equal to the product of (i) the Purchase Price multiplied by (ii) a fraction (A) with a numerator equal to the Base Case Energy Yield and (B) a denominator equal to the As- Built Energy Yield (such amount, the “Energy Yield Liquidated Damages”). Seller shall notify Buyer of any election to pay Energy Yield Liquidated Damages within three (3) Business Days after the generation of the final results of the final run of the Substantial Completion Energy Model.
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Energy Yield Guaranty. (a) Seller shall be required to demonstrate from time to time that the Energy Yield Guaranty has been satisfied, as more particularly described in Section 4 of the Scope Book. If the final run of the Substantial Completion Energy Model has been performed, the final results of such run do not demonstrate that the PV Plant has satisfied the Energy Yield Guaranty, and, pursuant to Section 4 of the Scope Book, Seller has elected to pay Energy Yield Liquidated Damages in lieu of curing such failure, the Substantial Completion Payment Amount shall be reduced by an amount equal to the product of (i) the Purchase Price multiplied by (ii) the result of one (1) minus a fraction with (A) a numerator equal to the As-Built Energy Yield and (B) a denominator equal to the Base Case Energy Yield (such amount, the “Energy Yield Liquidated Damages”). Seller shall notify Buyer of any election to pay Energy Yield Liquidated Damages within three (3) Business Days after the generation of the final results of the final run of the Substantial Completion Energy Model. (b) Seller and Buyer agree that: (i) it is difficult or impossible to determine with precision the amount of damages that would or might be incurred by ▇▇▇▇▇ as a result of the failure of the Energy Yield Guaranty to be satisfied; (ii) Buyer would be damaged by any failure of Seller to meet such obligation; (iii) it would be impracticable or difficult to fix the actual damages resulting therefrom; (iv) any sums that would be payable under this Error! Reference source not found. are (A) Buyer’s sole and exclusive remedy for such failure and (B) in the nature of liquidated damages, and not a penalty, and are fair and reasonable; (v) the payment of Energy Yield Liquidated Damages represents a reasonable estimate of fair compensation for the damages that may reasonably be anticipated from such failure; and (vi) each of Seller and Buyer hereby irrevocably waives any right to claim to any court or arbitral tribunal or seek the adjustment of any such sums.
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Energy Yield Guaranty. Seller shall be required to demonstrate from time to time that the Energy Yield Guaranty (as defined in Section 4 of the Scope Book) has been met, as more particularly described in Section 4 of the Scope Book.
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Related to Energy Yield Guaranty

  • Guaranty Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.