Exchange of reserve capacity Clause Samples

The 'Exchange of reserve capacity' clause defines the terms under which parties can transfer or share their reserved but unused capacity, such as energy, bandwidth, or production capability, with each other. Typically, this clause outlines the conditions, procedures, and any compensation involved when one party wishes to utilize another's surplus reserved capacity, ensuring that such exchanges are conducted transparently and fairly. Its core function is to maximize resource efficiency and flexibility, allowing parties to adapt to changing needs while minimizing waste or underutilization of reserved resources.
Exchange of reserve capacity. The exchange of reserve capacity allows TSOs to organise and to ensure the availability of reserve capacity resulting from FCR dimensioning (see chapter 6) and FRR dimensioning (see chapter 7), by relying on reserve providing units and reserve providing groups which are connected to an area operated by a different TSO. Figure 1 illustrates the exchange of 200 MW of reserve capacity (FCR, FRR or RR) from Area B to Area A. Figure 1: Exchange of reserve capacity – simple example Suppose that the dimensioning results in the need of 300 MW for Area A and 200 MW for Area B. Without the exchange of reserve capacity the respective reserve capacity has to be provided by reserve providing units or reserve providing groups connected to the Area which means that 300 MW have to be connected in Area A and 200 MW in Area B. As a result of the exchange of reserve capacity of 200 MW from Area B to Area A, 200 MW of reserve capacity needed for Area A are now located within Area B, whereas Area A still ensures in addition the availability of the full amount of its own reserve capacity. Although the geographical location of the reserve capacity is different from the dimensioning results for each area, the total amount of reserve capacity within Area A and B is still 500 MW which is equivalent to the total amount without the exchange. Table 5 shows references to the limits for exchange of FCR and FRR. Table 5: Exchange limits FCR FRR RR 4.1 No limits defined RR currently not applied in Nordic SA Between Synchronous areas See section 9.4.1 See section 9.4.3 RR currently not applied in Nordic SA
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Exchange of reserve capacity. The exchange of reserve capacity allows TSOs to organise and to ensure the availability of reserve capacity resulting from FCR dimensioning (see chapter 6) and FRR dimensioning (see chapter 7), by relying on reserve providing units and reserve providing groups which are connected to an area operated by a different TSO. The figure below illustrates the exchange of 200 MW of reserve capacity (FCR, FRR or RR) from Area B to Area A. Suppose that the dimensioning results in the need of 300 MW for Area A and 200 MW for Area B. Without the exchange of reserve capacity, the respective reserve capacity has to be provided by reserve providing units or reserve providing groups connected to the Area which means that 300 MW have to be connected in Area A and 200 MW in Area B. As a result of the exchange of reserve capacity of 200 MW from Area B to Area A, 200 MW of reserve capacity needed for Area A are now located within Area B, whereas Area A still ensures in addition the availability of the full amount of its own reserve capacity. Although the geographical location of the reserve capacity is different from the dimensioning results for each area, the total amount of reserve capacity within Area A and B is still 500 MW which is equivalent to the total amount without the exchange.
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Exchange of reserve capacity. (a) Black Hills maintains the Combustion Turbines on its system to satisfy its system reserve requirements. Black Hills warrants that the Combustion Turbines are in good working order as of the date of this Agreement. (b) Black Hills hereby assigns to Pacific the right to use the Combustion Turbines as specified in this Agreement. (c) Black Hills shall retain day-to-day operational control of the Combustion Turbines and keep all necessary operating permits in place. Black Hills shall maintain liability and property insurance on the Combustion Turbines consistent with prudent utility practice and show Pacific as an additional insured, provided that showing Pacific as an additional insured does not increase the insurance premiums paid by Black Hills. Black Hills shall be responsible for maintaining the Combustion Turbines in good working order and shall run them for Pacific’s account when requested by Pacific to do so. Black Hills shall proceed with any required repair of the Combustion Turbines with all reasonable dispatch. Any insurance proceeds associated with damage to the Combustion Turbines shall be applied to the cost of repair. Pacific shall reimburse to Black Hills the Operation and Maintenance Costs of the Combustion Turbines and Pacific shall pay all fuel costs associated with Pacific’s use of them. (d) If the Combustion Turbines suffer sufficient wear or obsolescence that they cannot be kept in good working order at a reasonable cost, they shall be replaced at Pacific’s expense, in which event Pacific shall be responsible for insurance and property taxes thereon. Upon the termination of this Agreement, Black Hills shall pay Pacific an amount equal to the then-depreciated book value of any Combustion Turbines replaced by Pacific and ownership of such Combustion Turbines shall then transfer to Black Hills. (e) For the Term of this Agreement, Pacific will make available up to 100 megawatts of capacity from its system to meet Black Hills’ reserve requirements. Such reserve capacity shall be available to Black Hills only at such time as consistent with prudent utility practice, Black Hills would, absent this Agreement, have made use of the Combustion Turbines. At such times as Black Hills makes use of its right to this system reserve capacity, it shall pay Pacific for energy taken with the capacity based upon Pacific’s then-prevailing Incremental Cost of Generation, not to exceed fuel costs associated with operating the Combustion Turbines. If Black H...
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Related to Exchange of reserve capacity

  • Reservation of Class A Ordinary Shares The Company shall at all times reserve and keep available a number of its authorized but unissued Class A ordinary shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

  • Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc Upon any change in par value or liquidation preference, split-up, combination or any other reclassification of the Stock, or upon any recapitalization, reorganization, merger or consolidation affecting the Company or to which it is a party, the Depositary may in its discretion with the approval (not to be unreasonably withheld) of, and shall upon the instructions of, the Company, and (in either case) in such manner as the Depositary may deem equitable, (i) make such adjustments in the fraction of an interest in one share of Stock represented by one Depositary Share as may be necessary (as certified by the Company) fully to reflect the effects of such change in par value or liquidation preference, split-up, combination or other reclassification of Stock, or of such recapitalization, reorganization, merger or consolidation and (ii) treat any securities which shall be received by the Depositary in exchange for or upon conversion of or in respect of the Stock as new deposited securities so received in exchange for or upon conversion or in respect of such Stock. In any such case, the Depositary may in its discretion, with the approval of the Company, execute and deliver additional Receipts or may call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new deposited securities. Anything to the contrary herein notwithstanding, holders of Receipts shall have the right from and after the effective date of any such change in par value or liquidation preference, split-up, combination or other reclassification of the Stock or any such recapitalization, reorganization, merger or consolidation to surrender such Receipts to the Depositary with instructions to convert, exchange or surrender the Stock represented thereby only into or for, as the case may be, the kind and amount of shares of stock and other securities and property and cash into which the Stock represented by such Receipts would have been converted or for which such Stock would have been exchanged or surrendered had such Receipt been surrendered immediately prior to the effective date of such transaction.

  • REGISTRATION OF TRANSFER OF AMERICAN DEPOSITARY SHARES; COMBINATION AND SPLIT-UP OF RECEIPTS INTERCHANGE OF CERTIFICATED AND UNCERTIFICATED AMERICAN DEPOSITARY SHARES. The Depositary, subject to the terms and conditions of the Deposit Agreement, shall register a transfer of American Depositary Shares on its transfer books upon (i) in the case of certificated American Depositary Shares, surrender of the Receipt evidencing those American Depositary Shares, by the Owner or by a duly authorized attorney, properly endorsed or accompanied by proper instruments of transfer or (ii) in the case of uncertificated American Depositary Shares, receipt from the Owner of a proper instruction (including, for the avoidance of doubt, instructions through DRS and Profile as provided in Section 2.9 of that Agreement), and, in either case, duly stamped as may be required by the laws of the State of New York and of the United States of America. Upon registration of a transfer, the Depositary shall deliver the transferred American Depositary Shares to or upon the order of the person entitled thereto. The Depositary, subject to the terms and conditions of the Deposit Agreement, shall upon surrender of a Receipt or Receipts for the purpose of effecting a split-up or combination of such Receipt or Receipts, execute and deliver a new Receipt or Receipts for any authorized number of American Depositary Shares requested, evidencing the same aggregate number of American Depositary Shares as the Receipt or Receipts surrendered. The Depositary, upon surrender of certificated American Depositary Shares for the purpose of exchanging for uncertificated American Depositary Shares, shall cancel the Receipt evidencing those certificated American Depositary Shares and send the Owner a statement confirming that the Owner is the owner of the same number of uncertificated American Depositary Shares. The Depositary, upon receipt of a proper instruction (including, for the avoidance of doubt, instructions through DRS and Profile as provided in Section 2.9 of the Deposit Agreement) from the Owner of uncertificated American Depositary Shares for the purpose of exchanging for certificated American Depositary Shares, shall cancel those uncertificated American Depositary Shares and register and deliver to the Owner a Receipt evidencing the same number of certificated American Depositary Shares. As a condition precedent to the delivery, registration of transfer, or surrender of any American Depositary Shares or split-up or combination of any Receipt or withdrawal of any Deposited Securities, the Depositary, the Custodian, or Registrar may require payment from the depositor of the Shares or the presenter of the Receipt or instruction for registration of transfer or surrender of American Depositary Shares not evidenced by a Receipt of a sum sufficient to reimburse it for any tax or other governmental charge and any stock transfer or registration fee with respect thereto (including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees as provided in the Deposit Agreement, may require the production of proof satisfactory to it as to the identity and genuineness of any signature and may also require compliance with any regulations the Depositary may establish consistent with the provisions of the Deposit Agreement. The Depositary may refuse to accept deposits of Shares for delivery of American Depositary Shares or to register transfers of American Depositary Shares in particular instances, or may suspend deposits of Shares or registration of transfer generally, whenever it or the Company considers it necessary or advisable to do so. The Depositary may refuse surrenders of American Depositary Shares for the purpose of withdrawal of Deposited Securities in particular instances, or may suspend surrenders for the purpose of withdrawal generally, but, notwithstanding anything to the contrary in the Deposit Agreement, only for (i) temporary delays caused by closing of the Depositary’s register or the register of holders of Shares maintained by the Company or the Foreign Registrar, or the deposit of Shares, in connection with voting at a shareholders’ meeting or the payment of dividends, (ii) the payment of fees, taxes and similar charges, (iii) compliance with any U.S. or foreign laws or governmental regulations relating to the American Depositary Shares or to the withdrawal of the Deposited Securities or (iv) any other reason that, at the time, is permitted under paragraph I(A)(1) of the General Instructions to Form F-6 under the Securities Act of 1933 or any successor to that provision. The Depositary shall not knowingly accept for deposit under the Deposit Agreement any Shares that, at the time of deposit, are Restricted Securities.

  • Recapitalizations, etc The provisions of this Agreement shall apply, to the full extent set forth herein with respect to the Stock or the Options, to any and all shares of capital stock of the Company or any capital stock, partnership units or any other security evidencing ownership interests in any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for, or substitution of the Stock or the Options by reason of any stock dividend, split, reverse split, combination, recapitalization, liquidation, reclassification, merger, consolidation or otherwise.

  • Recapitalization, Reorganization, Reclassification, Consolidation, Merger or Sale In case the Company shall reorganize its capital, reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is a change in or distribution with respect to the Shares of the Company), or sell, transfer or otherwise dispose of any of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”), are to be received by or distributed to the holders of the Company, then the Participant shall have the right thereafter to receive, upon exercise of this Option, the number of shares of common stock of the successor or acquiring corporation or of the Company’s Shares, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by the Participant of the number of Shares of for which this Option is exercisable immediately prior to such event. In case of any such reorganization, reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance and performance of each and every covenant and condition of this Option to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of the Company) in order to provide for adjustments of Shares for which this Option is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 7 of this Option. For purposes of this Section 7(b), “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 7 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or disposition of assets.