COD Sample Clauses
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COD. Seller shall cause the Project to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date; provided, however, that the Commercial Operation Date shall not occur more than one hundred eighty (180) days prior to the Guaranteed Commercial Operation Date. If the Commercial Operation Date occurs after the Guaranteed Commercial Operation Date, Seller shall pay to Buyer liquidated damages equal to Daily Delay Damages for each day or portion of a day that the Commercial Operation Date occurs after the Guaranteed Commercial Operation Date for up to a total of one hundred eighty (180) days (“Project Cure Period”); provided, however, that Seller may, at its option, extend the Project Cure Period by up to an additional one hundred eighty (180) days by notifying Buyer of its election to do so no later than one hundred fifty (150) days after the Guaranteed Commercial Operation Date and increasing the Construction Period Security by an amount equal to the product of (A) the Construction Period Security specified in Section 8.4(a)(ii) times (B) the quotient of the number of days by which Seller wishes to extend the Project Cure Period divided by one hundred eighty (180). In addition, Seller shall submit a Remedial Action Plan within ten
COD. Seller shall cause the Project to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date, unless extended in accordance with Section 3.9(c)(ii).
COD. The Facility must satisfy the requirements for Commercial Operation (set forth in Section 3.3) by the Commercial Operation Deadline (“COD”). The “Commercial Operation Deadline” with respect to the Facility shall be no later than September 30, 2013, as extended on a day‐for‐day basis for: (a) each day up to a maximum of sixty (60) days that the CPUC does not approve a resolution regarding the Agreement after May 31, 2012; and (b) each day up to a maximum of one hundred and eighty (180) days (the “Maximum Force Majeure Delay”) that Seller is actually delayed by Force Majeure in achieving Commercial Operation by the Commercial Operation Deadline. Any delays to Commercial Operation after the Maximum Force Majeure Delay period caused by Force Majeure shall result in daily delay damages and/or Event of Default in accordance with Section 12.0 if such delays prevent Seller from achieving Commercial Operation after the Commercial Operation Deadline, as extended.”
COD. (a) Is it possible to insert a provisional date for the COD in the contract? This may enable the Operator to begin the commercialization of the site and optimize the launch of the Site on the market.
(b) Is it possible that any delay compared to this provisional COD may allow the Operator to get indemnified for reasonable consequences linked to this delay (such as cost for termination/postponement/ rescheduling of the event of clients whom signed a contract) being understood the Operator shall do its best effort to mitigate these consequences? (a) No. Since the Operator will be part of the project, and will be aware of the progress of construction, it should be able to make a reasonable assessment of commercialization. The OSA remains unchanged (b) The OSA remains unchanged.
COD. The Company shall have filed the COD with the Secretary of State of the State of Delaware and the COD shall have been declared effective.
COD. The Borrower shall (and shall cause each Borrower Party to) use commercially reasonable efforts to achieve COD for each Project on or before the Date Certain for such Project.
COD. The Company will deliver evidence to the Investors that the COD has been filed with the Secretary of State of the State of Delaware and the COD has become effective.
COD. Seller shall complete installation and testing of at least 50MW installed capacity of the Project as certified by Seller to Buyer and begin continuous deliveries of such 50MW installed capacity on or before December 31, 2012. If Seller fails to do so, Seller shall pay Buyer liquidated damages equal to the Milestone Delay Damage for each day or portion of a day that Seller fails to provide continuous deliveries of such 50MW installed capacity until Seller does achieve such deliveries or begins paying Daily Delay Damages below. In addition, Seller shall cause the entire Project to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date; provided, however, that the Commercial Operation Date shall not occur more than one hundred eighty (180) days prior to the Guaranteed Commercial Operation Date. If the Commercial Operation Date occurs after the Guaranteed Commercial Operation Date, Seller shall pay to Buyer liquidated damages equal to Daily Delay Damages for each day or portion of a day that the Commercial Operation Date occurs after the Guaranteed Commercial Operation Date for up to a total of one hundred and eighty (180) days (“Project Cure Period”). In addition, Seller shall submit a Remedial Action Plan within ten (10) days after the Guaranteed Commercial Operation Date if the Project has not then achieved the Commercial Operation Date. Each Party agrees and acknowledges that (a) the actual damages that Buyer would incur due to a delay in achieving the Commercial Operation Date on or before the Guaranteed Commercial Operation Date would be difficult or impossible to predict with certainty, (b) the Daily Delay Damages set forth in this section are a reasonable and appropriate approximation of such damages, and (c) the Daily Delay Damages set forth in this section are the exclusive remedy for Seller’s delay in achieving the Commercial Operation Date for the length of the Project Cure Period but shall not otherwise act to limit any of Buyer’s rights or remedies arising from any other Event of Default by Seller, including, without limitation, the failure by Seller to achieve the Commercial Operation Date altogether.
COD. The Borrower shall achieve COD on or before the Date Certain.