Ramapo Target Value Clause Samples

The "Ramapo Target Value" clause defines a specific financial or performance benchmark that must be met in relation to the Ramapo project or asset. Typically, this clause sets a target value—such as a minimum sale price, revenue threshold, or valuation—that triggers certain contractual rights or obligations if achieved or missed. For example, if the Ramapo Target Value is not met by a specified date, parties may have the right to renegotiate terms, adjust payments, or terminate the agreement. The core function of this clause is to establish clear expectations and consequences tied to the performance or value of the Ramapo asset, thereby managing risk and aligning incentives between the parties.
Ramapo Target Value. A Target Value for flow between the NYISO and PJM shall be determined for each Ramapo PAR (the 3500 PAR and the 4500 PAR) (“TargetRamapo”). These Target Values shall be determined by a formula based on the net interchange schedule between the Parties plus the deviation of actual flows and desired flows across the ABC and JK interfaces and shall be used for settlement purposes as: Where: Calculated Target Value for the flow on each Ramapo PAR (PAR3500 and PAR4500); 61% of the net interchange schedule between PJM and NYISO over the AC tie lines distributed evenly across the in-service Ramapo PARs; A positive value indicates flows from PJM to NYISO and a negative value indicates flows from NYISO to PJM. If one (but not both) of the Ramapo PARs is out-of-service, the RTOs shall instead use 46% of the net interchange scheduled between PJM and NYISO over the AC tie lines to determine the Ramapo Interchange Factor for the expected or actual duration of the Ramapo PAR outage. While the modified Ramapo Interchange Factor is in effect, 100% of the expected flows shall be distributed to the in-service Ramapo PAR. The RTOs shall undertake best efforts to issue or post a notice that the change is being made at least two days before the change is implemented and to provide at least one day’s notice before returning to the expectation that 61% of net scheduled interchange will flow over the 5018 transmission line. Telemetered real-time flow over the JK interface. A positive value indicates flows from NYISO to PJM and a negative value indicates flows from PJM to NYISO; Telemetered real-time flow over the ABC interface. A positive value indicates flows from PJM to NYISO and a negative value indicates flows from NYISO to PJM.; 80% of the telemetered real-time Rockland Electric Company Load; The JK interface Auto Correction component of the JK interface real-time desired flow as described in Schedule C to the Agreement. A positive value indicates flows from NYISO to PJM and a negative value indicates flows from PJM to NYISO; and The ABC interface Auto Correction component of the ABC interface real-time desired flow as described in Schedule C to the Agreement. A positive value indicates flows from PJM to NYISO and a negative value indicates flows from NYISO to PJM. In accordance with Appendix 3 of Schedule C to the Agreement, the participating RTOs will mutually agree on the circumstances under which they will allow up to thirteen percent of PJM to New York interchange schedu...
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Related to Ramapo Target Value

  • Target Net Assets The Company agrees that the Target Business that it acquires must have a fair market value equal to at least 80% of the balance in the Trust Account at the time of signing the definitive agreement for the Business Combination with such Target Business (excluding taxes payable and the Deferred Underwriting Commissions). The fair market value of such business must be determined by the Board of Directors of the Company based upon standards generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and book value. If the Board of Directors of the Company is not able to independently determine that the target business meets such fair market value requirement, the Company will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. The Company is not required to obtain an opinion as to the fair market value if the Company’s Board of Directors independently determines that the Target Business does have sufficient fair market value.

  • Multi-year Planning Targets Schedule A may reflect an allocation for the first Funding Year of this Agreement as well as planning targets for up to two additional years, consistent with the term of this Agreement. In such an event, the HSP acknowledges that if it is provided with planning targets, these targets: a. are targets only, b. are provided solely for the purposes of planning, c. are subject to confirmation, and d. may be changed at the discretion of the Funder in consultation with the HSP. The HSP will proactively manage the risks associated with multi-year planning and the potential changes to the planning targets; and the Funder agrees that it will communicate any changes to the planning targets as soon as reasonably possible.

  • Target Fair Market Value The Company agrees that the Target Business that it acquires must have a fair market value equal to at least 80% of the balance in the Trust Account at the time of signing the definitive agreement for the Business Combination with such Target Business (excluding taxes payable and the Deferred Underwriting Commissions). The fair market value of such business must be determined by the Board of Directors of the Company based upon standards generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and book value. If the Board of Directors of the Company is not able to independently determine that the target business meets such fair market value requirement, the Company will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. The Company is not required to obtain an opinion as to the fair market value if the Company’s Board of Directors independently determines that the Target Business does have sufficient fair market value.

  • Target 3.1 The target is set out in Schedule 6 to this Agreement, as varied from time to time. 3.2 Whether the target has been met must be determined in accordance with Rule 6. 3.3 The Secretary of State may carry out a review of the sector commitment during 2016 for the target periods 1st January 2017 to 31st December 2018 and 1st January 2019 to 31st December 2020. The target may be varied to take account of the review in accordance with the procedure set out in Rule 12. 3.4 The target may also be varied in accordance with Rules 6, 9, 10 and 11.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.