Forced Curtailment Clause Samples

The Forced Curtailment clause defines the circumstances under which a party is required to reduce or suspend its operations or output due to external factors beyond its control, such as regulatory orders, grid emergencies, or natural disasters. In practice, this clause typically applies to energy supply agreements, where a power producer may be instructed by a grid operator to decrease generation to maintain system stability. Its core function is to allocate responsibility and clarify the rights and obligations of the parties when such involuntary reductions occur, thereby managing risk and ensuring both parties understand the procedures and consequences of forced curtailment events.
Forced Curtailment. 5.6.1.1. Where Buyer provides to Seller a Notice of Forced Curtailment, Seller shall curtail the production of the Facility. Forced Curtailment is defined as a curtailment ordered by a) a Government Authority, with reasonable notice; or
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Forced Curtailment. Forced Curtailment is defined as a curtailment ordered by: a) a Government Authority, with reasonable notice; or b) Buyer in response to an instance of Force Majeure. Where Buyer provides to Seller a Notice of Forced Curtailment, Seller shall curtail the production of the Facility. If notice is provided to by Buyer with reasonable time for Seller to respond. Buyer shall have no obligation to pay for Product during the period of Forced Curtailment and Seller shall assume all liability and reimburse Buyer for any costs and charges incurred as a result of Product If notice is provided by Buyer with unreasonable time for Seller to respond, Buyer shall be responsible for costs, charges and liabilities associated with continued Energy production until Seller can curtail production. Buyer shall have no obligation to pay for Product that Seller would have been able to deliver during this time but for the Forced Curtailment. However, for all Product in excess of five percent (5%) of the overall annual production amount curtailed through Forced Curtailment, excluding curtailment due to Force Majeure, Buyer shall pay Seller the Contract Price.
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Forced Curtailment. In the event that DOE may order a curtailment of operations, such as during a government shutdown at the Idaho National Laboratory (INL) site, that will affect the bargaining unit employees covered under this agreement, the following will apply:
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Forced Curtailment. In the event that DOE may order a curtailment of operations at the Idaho National Laboratory (INL) site that will affect the bargaining unit employees covered under this agreement, the following will apply: • Work will not be done as under normal circumstances. Management will attempt to follow the contract as closely as possible. The Anti-Deficiency Act (ADA) allows for performance of work that enables us to maintain sufficient protection against the threat of harm to human life or property and does not allow for costs to be incurred that have not been appropriated. • Senior employees will be allowed to replace junior employees on excepted positions if the senior employee is qualified and holds all required certifications, licenses, and clearances. Employees, who have chosen to replace junior employees during the curtailment, shall return to their bid positions once the curtailment ends. • If employees are called in to work during the curtailment, seniority shall be followed, using the senior volunteer, junior force concept. However, if an emergent situation arises junior qualified personnel may be called in lieu of seniority. • Employees who are on curtailment leave will not be paid severance pay. The curtailment is not considered a lay-off or normal reduction in force. • Shoe vouchers, safety glasses vouchers, and meal tickets will not be honored during the curtailment period. • Use of “029” pay code (time off with pay for union business) may be honored during the curtailment period. • Licensing Fees will not be paid during this curtailment but will be deferred until the Company receives appropriation allocations. • Union Dues will not be collected from employees who are not working and are in a non-pay status. Employees working or in an active pay status will have dues deducted from their pay (if they have signed and submitted an authorization form prior to the curtailment of operations). • Upon the conclusion of the curtailment, ▇▇▇ will return to normal operations and will return all employees to work as promptly as possible. Depending on funding, benefits may or may not continue. This will apply to INL, as a whole, under the “Me Too” concept.
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Related to Forced Curtailment

  • Curtailment Any payment of principal on a Mortgage Loan, made by or on behalf of the related Mortgagor, other than a Scheduled Payment, a prepaid Scheduled Payment or a Payoff, which is applied to reduce the outstanding Stated Principal Balance of the Mortgage Loan.

  • Differential Pay Section 1( A). Geographic Area Pay. Classifications C4115, C4116, C4207, C4209, C4211, C4213, C4215, C4221, C4223, C4225: Prevailing basic rates in specific geographical areas for employment of limited duration less than one hundred twenty (120) days will be approved. Employees paid at such rates will not be eligible for vacation, sick leave or holiday benefits. Such rates will be paid only for construction work.

  • Gas Imbalances, Prepayments As of the date hereof, except as set forth on Schedule 7.18 or on the most recent certificate delivered pursuant to Section 8.12(c), on a net basis there are no gas imbalances, take or pay or other prepayments which would require the Borrower or any of its Subsidiaries to deliver, in the aggregate, two percent (2%) or more of the monthly production from Hydrocarbons produced from the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax under Section 4973 of the Internal Revenue Code for that year by withdrawing the excess contribution and its earnings on or before the due date, including extensions, of the tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may be subject to a 10% early distribution penalty tax if you are under age 59½. In addition, in certain cases an excess contribution may be withdrawn after the time for filing your tax return. Finally, excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years.

  • Early Distribution Penalty Tax If you receive a Traditional IRA distribution or a nonqualified ▇▇▇▇ ▇▇▇ distribution before you attain age 59½, an additional early distribution penalty tax of 10 percent generally will apply to the taxable amount of the distribution unless one of the following exceptions apply.