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03-23-15 Agenda. Packet & Committee Meeting Notice
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03-23-15 Agenda. Packet & Committee Meeting Notice
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4/23/2015 12:20:19 PM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
3/23/2015
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Guaranteed Smings for the sante period, Amcresco shall pay Customer the amount (the "Sayings Shortfall-) by <br />which the cuaidative Guaranteed Savings exceeds the cumulative Annual Savings, or, by mutual written <br />agreement of the Parties, in lieu of making a payment of the Savings Shortfall Ameresco may rectify tine. Savings <br />Shortfall through installation of additional EOM(s) or modifncations. Such payment, installation or modification <br />shall be the sole and exclusive remedy of Customer in the event of a Savings Shortfall. Any such payments shall <br />be included in the cumulative .Annual Savings tonal for purposes of future Guarantee Reconciliations. <br />In addition, in the event of a Sayings Shortfall Aneresco shall have the right bur not the obligation, at Anteresco's <br />sole discretion and expense, to install additional li:C'v](s) or modifications to mitigate ,lily future Savings Shortfall <br />with the approval of Customer, such approval not to be unreasonably withheld, conditioned or delayed. If, in <br />ant- Guarantee fear, the Annual Savings exceed the Guaranteed Savings for such Guarantee Year, it the <br />Customer's option, the excess savings «ill either be used (i) to reimbunc Ameresco for any Savings Shortfall <br />payments made in previous years, whother such payment was made in cash or through installation of additional <br />F.Ols or (ii) included ill the annual Saviings amount for the succeedirgg Guarantee Year. <br />Dispute Resolution <br />.day disputc, claim or disagreement of any kind or nature between the Parties arising out of or in connection with <br />this M&V Plan, adjustment to the Baseline or the Savings Guarantee shall be resoled in accordance with the <br />Dispute Resolution procedures set forth in Section 13 of the agreement. <br />57 <br />
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