Common use of Shortfall Payments Clause in Contracts

Shortfall Payments. In the event that the actual savings achieved during any one year of the Guarantee Period are less than the Annual Guaranteed Savings set forth in Schedule C (Energy Savings Guarantee), ESCO shall pay the School District an amount equal to the deficiency (“Shortfall Payment”). The ESCO shall remit all Shortfall Payments to the School District within thirty (30) days of written notice by the School District of such monies due.

Shortfall Payments. In the event that the actual savings achieved Verified Actual Savings during any one year of the Guarantee Period are less than the Annual Guaranteed Savings set forth in Schedule C (Energy Savings Guarantee), ESCO shall pay the School District an amount equal to the deficiency (“Shortfall Payment”). The ESCO shall remit all Shortfall Payments to the School District within thirty (30) days of written notice by the School District of such monies due.