Off-island ppa
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- Interest
- Billing and Payment Records
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- SELLER SECURITY
Monthly Adjustment. In each Month of the Contract Year, Seller will adjust the Monthly Capacity Payment, as applicable, as specified in Appendix 5. Billing and Final Accounting.If Buyer questions or contests the amount or propriety of any payment claimed by Seller to be due pursuant to this Agreement, Buyer shall make payment to Seller only of amounts not in dispute.In the event Buyer questions or contests the correctness of any calculations made by Seller in developing a Monthly Invoice, Buyer shall provide Seller with written notice of such dispute and the basis for Buyer’s question or contest. Seller shall promptly review the questioned Monthly Invoice and shall notify Buyer of any error in Seller’s determination of the Monthly Invoice amounts and issue an amended Monthly Invoice in conjunction with any payment to, or request for payment from, Buyer, as the case may be, in light of the redetermination. If Buyer disputes in good faith Seller’s amended Monthly Invoice amount, then Buyer may submit the matter for dispute resolution pursuant to the procedure set forth in Article 16. To the extent Seller disagrees with Buyer’s basis for questioning the original Monthly Invoice, Seller shall provide a written explanation of its position.Seller shall have until the end of one (1) year after the delivery of a Monthly Invoice to correct the calculations made by Seller in developing the Monthly Invoice and deliver a revised Monthly Invoice to Buyer. At any time and from time to time and during and until the expiration of six (6) years following the end of the Base Term, or Extended Term if applicable, Buyer may, upon reasonable notice, audit (or cause to be audited) Seller’s books and records in connection with any Monthly Invoice to question or contest the correctness of any Monthly Invoice and the calculation of such payments and reimbursements. Each payment made by Buyer hereunder shall be subject to subsequent adjustment for amounts determined by Buyer or its auditor. Notwithstanding the foregoing, either Party may correct calculations at any time NYISO or Off-Island ISO adjusts prior data calculations upon which any settlement has been based. If payment already has been made by either Seller or Buyer pursuant to the Monthly Invoice and a Party thereafter questions or contests the correctness of such previously reconciled Monthly Invoice, neither Party shall be required to refund any payment received pursuant to the contested Monthly Invoice nor make any additional payment thereto until such time as it is finally determined that the contested Monthly Invoice was in error.Interest. If either Party does not make a payment required by this Agreement when due, then interest at the Interest Rate shall be added to the due payment from the date such payment was due until such overdue payment (including interest then owed) is paid. If either Party makes a payment pursuant to an invoice that is later determined to have been incorrect, the refund of such overpayment shall include interest on such overpayment at the Interest Rate for the period from the date such overpayment was made until the date upon which the refund is made. Billing and Payment Records. In accordance with Supplement 1, after the receipt of any Monthly Invoice, Buyer shall have the right to audit such books and records of Seller as are necessary for Buyer to verify the calculation of the Monthly Capacity Payments and the Monthly Energy Payments as well as all other information provided to Buyer pursuant to Section 6.1. Required Payment. Any amounts due pursuant to this Article 6, shall be paid by the owing Party in the amounts and when required by this Agreement, notwithstanding any event, act, omission, failure, condition, change, excuse, suspension of a Party’s performance under Section 12.1 or Section 12.2 (as the case may be) or contrary provision in this Agreement. SELLER SECURITYSeller Security. As security for Seller’s payment obligations under this Agreement, Seller shall deliver to Buyer, at Seller’s sole cost and expense, Letter(s) of Credit, or a Guaranty by the dates and in the amounts set forth in Sections 7.1 (i) and (ii), on the terms and conditions set forth herein (“Seller Security”). Within five (5) Business Days of receipt of notice from Buyer that the Effective Date has occurred in accordance with Section 2.1(i), Seller shall deliver to Buyer and shall maintain until the date that is ninety-eight (98) Days after the later to occur of (a) the expiration or earlier termination of this Agreement, or (b) payment of all obligations due from Seller to Buyer, Seller Security in an amount equivalent to ________ Dollars ($___). [Proposer TO INSERT NUMBER EQUAL TO FIFTeen THOUSAND DOLLARS ($15,000) MULTIPLIED BY THE NUMBER OF MW OF DESIGN cable CAPACITY OF THE PROJECT]No later than the Minimum Required Consents Application Target Date, Seller shall delivery to Buyer and shall maintain until the date that is ninety-eight (98) Days after the later to occur of (a) the expiration or earlier termination of this Agreement, or (b) payment of all obligations due from Seller to Buyer, Seller Security in an amount equivalent to ________ Dollars ($___).[Proposer TO INSERT NUMBER EQUAL TO ONE HUNDRED THIRTY FIVE THOUSAND DOLLARS ($135,000) MULTIPLIED BY THE NUMBER OF MW OF DESIGN cable CAPACITY OF THE PROJECT]. Seller may meet its obligations under Sections 7.1(i) and (ii) by providing one form of Seller Security in the combined amount equivalent to _________ Dollars ($____). [Proposer TO INSERT NUMBER EQUAL TO ONE HUNDRED fifty THOUSAND DOLLARS ($150,000) MULTIPLIED BY THE NUMBER OF MW OF DESIGN cable CAPACITY OF THE PROJECT].Directory: proposals proposals -> Title 157 State Fire Marshal Chapter 8 permissible fireworks in the state of nebraska for 2008 2009 proposals -> Online Course Proposal Form proposals -> Course Title & Number: Bus 14 Business Communication Faculty Name: Melissa Patterson Course Delivery Method (check one) proposals -> IPad/Mobile Learning Strategies: iLearn, iPractice, and iEvaluate proposals -> Computational X: Integrating Computational Thinking across Disciplines Austin Cory Bart, Dennis Kafura proposals -> Title 435 private detective licensing act numerical table of contents proposals -> Bif 400 – Bioinformatics Senior Seminar Generic Syllabus proposals -> Contact Information 1102 Education Tower Download 0.54 Mb. Share with your friends:
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