Common use of Guarantee Payment Clause in Contracts

Guarantee Payment. For each Site, at the end of the True-up Period: If the ∑ Annual Deficits > 0, then Provider shall pay to Customer an amount equal to the product of (i) the Annual Deficit and (ii) the Avoided Energy Price per kWh for each Guarantee Year, with each product then aggregated for the Guarantee Years comprising such True-Up Period (a “Guarantee Payment”); Provider shall provide Customer with a report detailing the calculations set forth in the “Guaranteed Output Calculations” and the “Guarantee Payment” sections incorporated into the Construction NTP for each Site. This report shall contain sufficient information for the Customer to be able to determine the accuracy of Provider’s conclusion as the amount, if any, of Guarantee Payment. All Guarantee Payments, if due, shall be paid to Customer within ninety (90) days of the end of the True-Up Period for each Site.

Guarantee Payment. For each Site, at the end of the True-up Period: If the ∑ Annual Deficits > 0, then Provider shall pay to Customer an amount equal to the product of (i) the Annual Deficit and (ii) the Avoided Energy Price per kWh for each Guarantee Year, with each product then aggregated for the Guarantee Years comprising such True-Up Period (a “Guarantee Payment”); Provider shall provide Customer with a report detailing the calculations set forth in the “Guaranteed Output Calculations” and the “Guarantee Payment” sections incorporated into the Construction NTP for each Site. This report shall contain sufficient information for the Customer to be able to determine the accuracy of Provider’s conclusion as the amount, if any, of Guarantee Payment. All Guarantee Payments, if due, shall be paid to Customer within ninety (90) days of the end of the True-Up Period for each Site.