Availability Benchmark definition

Availability Benchmark. An Availability Factor of not less than 99%.
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Examples of Availability Benchmark in a sentence

  • Seller shall design, operate and maintain the Facility in a manner consistent with the standard of care reasonably expected of an experienced owner/operator with the desire and financial resources necessary to design, operate and maintain the Facility to achieve the Availability Benchmark and the GPR Benchmark.

  • Each Party agrees and acknowledges that (i) the damages that Company would incur if the Seller fails to achieve the Availability Benchmark for a LD Period would be difficult or impossible to calculate with certainty and (ii) the aforesaid liquidated damages are an appropriate approximation of such damages.

  • Design, Operation and Maintenance to Achieve Availability Benchmark and GPR Benchmark.

  • For each LD Period, Seller shall achieve an Availability Factor, as calculated as provided in Section 2.5(a) (Calculation of Availability Factor) of this Agreement, of not less than the Availability Benchmark.

  • Both Parties hereby assume the risk of such uncertainties and hereby waive any right to dispute: the appropriateness of any of the Availability Benchmark, the Availability Factor or the methodology specified in this Agreement for the calculation of the Availability Factor; and the appropriateness of any of the GPR Benchmark, the Measured Performance Ratio or the methodology specified in this Agreement for the calculation of the Measured Performance Ratio.

  • For avoidance of doubt, because the Availability Factor is calculated over an LD Period of 12 calendar months, the first month for which liquidated damages may be assessed under this Section 2.5(b) (Availability Benchmark and Liquidated Damages) would be the last calendar month of the initial Contract Year.

  • In order to provide Company with reasonable assurance that, subject to the Renewable Resource Variability, the Facility's Net Energy Potential will be available for Company Dispatch: (i) the Availability Benchmark shall be used to evaluate the availability of the Facility for dispatch by Company and (ii) the GPR Benchmark shall be used to evaluate the efficiency of the Facility.

  • In order to provide Company with reasonable assurance that, subject to the Renewable Resource Variability, the Facility's Net Energy Potential will be available for Company's dispatch: (i) the Availability Benchmark shall be used to evaluate the availability of the Facility for dispatch by Company and (ii) the GPR Benchmark shall be used to evaluate the efficiency of the Facility.

Related to Availability Benchmark

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

  • Term Benchmark when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate.

  • Canadian Benchmark means the applicable Canadian Benchmark Replacement to the extent that such Canadian Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Canadian Benchmark” shall include, as applicable, the published component used in the calculation thereof.

  • Availability Block means $15,000,000.

  • Relevant Benchmark means the Index, the Reference Interest Rate and any other index, benchmark or price source by reference to which principal or other amounts payable under the Securities is calculated.