Common use of Storage Availability Clause in Contracts

Storage Availability. During the Delivery Term, the Storage Facility shall maintain a Monthly Storage Availability (calculated in accordance with Exhibit M) during each month of no less than ninety-eight percent (98%) (the “Guaranteed Storage Availability”). If, in any month after the Commercial Operation Date, the Monthly Storage Availability is less than the Guaranteed Storage Availability, then, except as provided in Section 11.1(b)(vi), Buyer’s sole and exclusive remedy for such shortfall shall be the application of the Storage Availability Adjustment to reduce the Storage Capacity Payment due for the Storage Product as provided in Section 3.3(e).

Appears in 1 contract

Sources: Power Purchase Agreement

Storage Availability. During the Delivery Term, the Storage Facility shall maintain a Monthly Storage Availability (calculated in accordance with Exhibit M) during each month of no less than ninety-eight percent (98%) (the “Guaranteed Storage Availability”). If, in any month after the Commercial Operation Date, the Monthly Storage Availability is less than the Guaranteed Storage Availability, then, except as provided in Section 11.1(b)(vi11.1(b)(iii), Buyer’s sole and exclusive remedy for such shortfall shall be the application of the Storage Availability Adjustment to reduce the Storage Capacity Payment due for the Storage Product as provided in Section 3.3(e)3.2.

Appears in 1 contract

Sources: Energy Storage and Services Agreement