Measuring, settlement and payment Sample Clauses

Measuring, settlement and payment. Response will be measured at the DER Connection Point of the Provider’s site. The Power Potential project may make separate measurement of the service at different points on the network (e.g. GSP) but this will not be used for settlement purposes. This is a key learning outcome for the project and, as such, the project will bear this risk. Providers should be aware that this would be reviewed should a Power Potential service be rolled out as business as usual. DER Reactive Service Providers will receive: Availability Payments for Reactive Power Availability accepted in the Power Potential Tender and Utilisation Payments for Reactive Power Response Availability Prices (£/MVar/hr) and Utilisation Prices (£/MVarh) will be the prices submitted by DER Providers as bids for Service Windows at the day-ahead stage, and will be paid on a pay-as-bid basis. The total Availability Payments received will be adjusted for DER performance. This means that at the end of each month, the aggregate number of Settlements Periods in which the DER was accepted and deemed to have been available (as measured under the logic specified for Wave 1) is compared to the total number of Settlement Periods that the DER service was accepted for, to calculate a Relevant Proportion of availability achieved. A detailed description of the basis for DER payments for each service is given in Schedule 2 of the Power Potential Framework Agreement. At the start of the service window for which DER was contracted, the DERMS will put the DER into voltage control / voltage droop control mode (‘arm’) and adjust their voltage set point to keep the MVar output as close as possible to the output prior to the change in operating mode. Initially, the voltage set-point will match the measure voltage at the DER Connection Point at the time of arming. This has the effect of maintaining the MVar produced by the DER as close to their default operating level as possible.
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  • Purchase Price and Payment The total Purchase Price for the Property is the amount of the successful bid for the Cabin/Home Site at public auction plus the Maximum Value of the Personal Property.

  • Calculation and Payment Interest on LIBOR Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated on the basis of a three hundred sixty (360) day year for the actual number of days elapsed. Interest on the Base Rate Loans shall be calculated on the basis of a three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on the Base Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment of such Loan (or portion thereof); and (iii) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (i) the last day of each applicable Interest Period; (ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; (iii) the prepayment of such Loan (or portion thereof); and (iv) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise.

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