Termination Payment After the Commercial Operation Date Clause Samples

The 'Termination Payment After the Commercial Operation Date' clause defines the financial obligations that arise if a contract is terminated after the project or facility has begun commercial operations. Typically, this clause outlines how the terminating party must compensate the other, often specifying formulas or methods for calculating the payment based on factors such as remaining contract value, costs incurred, or lost profits. Its core function is to ensure that both parties are fairly compensated for investments and commitments made, thereby reducing financial uncertainty and disputes in the event of early contract termination after operations have commenced.
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Termination Payment After the Commercial Operation Date. If the Early Termination Date occurs on or after the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(b). If Owner is the Defaulting Party, then the Termination Payment shall be owed to CHGE and shall be equal to the product of (1) the Total Compensation Amount and (2) the number of Calendar Days remaining in the Delivery Period as of the effective date of termination divided by the total number of Calendar Days in the Delivery Period. If CHGE is the Defaulting Party, then the Termination Payment, if any, shall be owed to Owner and shall equal the positive difference between the total value of all unpaid Annual Post-Commercial Operation Payments less a reasonable estimate of the net revenue to be derived from use of the Project over the Calendar Days remaining in the Delivery Period. If the result of such calculation is negative, then Owner shall remit payment to CHGE. The Parties may engage an independent third party to estimate anticipated net revenue from sales from the Project in the NYISO Markets. Any costs incurred in engaging an independent third party will be divided evenly between CHGE and Owner.
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Termination Payment After the Commercial Operation Date. 12 (A) If the termination of this Agreement due to a Seller Event of Default occurs after the Commercial Operation Date then the Termination Payment shall be owed to Buyer and shall be equal to (i) all amounts due and owing to Buyer as of the termination of this Agreement plus (ii) the positive amount, if any, equal to (x) the present value of the payments Buyer would be required to make under transactions replacing this Agreement minus (y) the present value of the payments Buyer would be required to make for Product under this Agreement, in each case for the period from the early termination date through the scheduled end of the Delivery Term and determined by Buyer in a commercially reasonable manner plus (iii) Buyer’s Costs less (iv) all amounts due to the Seller under this Agreement. (B) If termination of this Agreement due to a Buyer Event of Default occurs after the Commercial Operation Date then the Termination Payment shall be owed to Seller and shall equal (i) all amounts due and owing to Seller as of the termination of this Agreement (ii) the positive amount, if any, equal to (x) the present value of the payments Seller would receive under this Agreement for Product less (y) the present value of the payments Seller would receive for Product under transactions replacing this Agreement, in each case for the period from the early termination date through the scheduled end of Delivery Term and determined by Seller in a commercially reasonable manner plus (iii) Seller’s Costs less (iv) all amounts due to the Buyer under this Agreement as of the date of such termination.
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Termination Payment After the Commercial Operation Date. If the Early Termination Date occurs on or after the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(b). (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to RG&E and shall be equal to the product of (1) the Total Compensation Amount and (2) the number of Calendar Days remaining in the Delivery Period as of the effective date of termination divided by the total number of Calendar Days in the Delivery Period. (ii) If RG&E is the Defaulting Party, then the Termination Payment, if any, shall be owed to Owner and shall equal the positive difference between the total value of all unpaid Annual Post-Commercial Operation Payments less a reasonable estimate of the net revenue to be derived from use of the Project over the Calendar Days remaining in the Delivery Period. If the result of such calculation is negative, then Owner shall remit payment to RG&E. The Parties may engage an independent third party to estimate anticipated net revenue from sales from the Project in the NYISO Markets. Any costs incurred in engaging an independent third party will be divided evenly between RG&E and Owner.
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Termination Payment After the Commercial Operation Date. If the Early Termination Date occurs on or after the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(b). If Owner is the Defaulting Party, then the Termination Payment shall be owed to NYSEG and shall be equal to the product of (1) the Total Compensation Amount and (2) the number of Calendar Days remaining in the Delivery Period as of the effective date of termination divided by the total number of Calendar Days in the Delivery Period. If NYSEG is the Defaulting Party, then the Termination Payment, if any, shall be owed to Owner and shall equal the positive difference between the total value of all unpaid Annual Post-Commercial Operation Payments less a reasonable estimate of the net revenue to be derived from use of the Project over the Calendar Days remaining in the Delivery Period. If the result of such calculation is negative, then Owner shall remit payment to NYSEG. The Parties may engage an independent third party to estimate anticipated net revenue from sales from the Project in the NYISO Markets. Any costs incurred in engaging an independent third party will be divided evenly between NYSEG and Owner.
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Related to Termination Payment After the Commercial Operation Date

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Termination for Non-Payment We may terminate this Agreement with immediate effect by giving written notice to you if you fail to pay any amount due under this Agreement on the due date for payment and remain in default not less than thirty

  • Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.