Specification of Contract Capacity Sample Clauses
The Specification of Contract Capacity clause defines the maximum amount of goods, services, or resources that a party is obligated to provide or receive under the contract. Typically, this clause outlines the precise quantity, volume, or output limits, such as the number of units to be delivered or the maximum energy load to be supplied. By clearly establishing these parameters, the clause ensures both parties have a mutual understanding of their obligations, thereby preventing disputes over performance expectations and helping to manage supply and demand risks.
Specification of Contract Capacity. (a) The Parties agree that the Contract Capacity is [●] MW (net, at Reference Hydrological Conditions).
(b) At any time (and from time to time) after the Effective Date but prior to the occurrence of the Commercial Operations Date, the Seller may elect by notice to the Purchaser to reduce the Contract Capacity by an amount not to exceed in aggregate ten percent (10%) of the Contract Capacity specified in Section 2.9(a). In each such case, the Contract Capacity shall be reduced as specified by the Seller upon the payment of liquidated damages specified below and the following provisions shall apply:
(i) the Seller shall pay to the Purchaser in immediately available funds within five (5) Business Days after the notice to reduce the Contract Capacity, as liquidated damages for such reduction and not as a penalty, an amount determined in accordance with the following schedule:
(A) if the reduction in the Contract Capacity requested by the Seller is greater than zero percent (0%) and less than or equal to two percent (2%) of the specified Contract Capacity, the amount payable shall be equal to four hundred thousand Dollars ($400,000) multiplied by the number of MW (prorated for any fraction thereof) of the reduction in the Contract Capacity;
(B) if the reduction in the Contract Capacity requested by the Seller is greater than two percent (2%) and less than or equal to five percent (5%) of the specified Contract Capacity, the amount payable shall be equal to five hundred Dollars ($500,000) multiplied by the number of MW (prorated for any fraction thereof) of the reduction in the Contract Capacity; and
(C) if the reduction in the Contract Capacity requested by the Seller is greater than five percent (5%) and less than or equal to ten percent (10%) of the specified Contract Capacity, the amount payable shall be equal to six hundred and twenty-five thousand Dollars ($625,000) multiplied by the number of MW (prorated for any fraction thereof) of the reduction in the Contract Capacity;
(ii) from the date of payment of the amount of liquidated damages determined pursuant to Section 2.9(b)(i), the Contract Capacity shall be reduced by the amount stated in such notice to the Purchaser;
(iii) the Seller may deliver additional notices of reduction of the Contract Capacity, provided that the aggregate reduction in Contract Capacity does not exceed ten percent (10%) of the Contract Capacity specified in Section 2.9(a)and provided that the amount of any liquidated damages pa...
Specification of Contract Capacity. (a) The Parties agree that the Contract Capacity is [____] MW, gross. .
(b) At any time (and from time to time) after the Effective Date but prior to the occurrence of the Commercial Operations Date, the Seller may elect by notice to the Purchaser to reduce the Contract Capacity by an amount not to exceed in aggregate ten percent (10%) of the Contract Capacity specified in Section 2.9(a). In each such case, the Contract Capacity shall be reduced as specified by the Seller, provided that, if the reduction in the Contract Capacity requested by the Seller is greater than five percent (5%) and less than or equal to ten percent (10%) of the specified Contract Capacity, the Seller shall pay to the Purchaser in immediately available funds within five (5) Business Days after the notice to reduce the Contract Capacity, as liquidated damages for such reduction and not as a penalty, an amount equal to three hundred and fifty thousand Dollars ($350,000) multiplied by the number of MW (prorated for any fraction thereof) of the reduction in the Contract Capacity.
(c) From the date of payment of the amount of liquidated damages determined pursuant to Section 2.9(b), the Contract Capacity shall be reduced by the amount stated in such notice to the Purchaser.
(d) The Seller may deliver additional notices of reduction of the Contract Capacity, provided that the aggregate reduction in Contract Capacity does not exceed ten percent (10%) of the Contract Capacity specified in Section 2.9(a). Any liquidated damages payable under Section 2.9(b) shall be in addition to any other liquidated damages that have become or thereafter become payable under Section 9.3. In the event the Contract Capacity is reduced under Section 2.9(b) through (e) above, the Benchmark Energy Table shall be revised to account for the reduction in the Complex Power Curve Energy and the Monthly Benchmark Energy corresponding to the revised Contract Capacity. The provisions of Section 2.10 shall, mutatis mutandis, apply to the revision of the Benchmark Energy Table and the revision shall be initiated by the Seller within fifteen (15) Days of the notification of the reduction in the Contract Capacity.
Specification of Contract Capacity.
(a) The Seller declares that the estimated contract capacity is approximately [ ]MW (“Contract Capacity”).Notwithstanding the aforementioned, the Seller shall be entitled to deliver part of the Contract Capacity to the Sugar Millsin view of its requirements.
(b) Not Used.
(c) Not Used.
(d) Not Used.
(e) Not Used.
(f) Not Used.