Common use of Placed In Service Clause in Contracts

Placed In Service. The Project was “placed in service” on the date set out on Schedule 2 to this Final Written Allocation. For this purpose, the assets are considered to be “placed in service” as of the date on which, based on all the facts and circumstances: (a) the constructing and equipping of the asset has reached a degree of completion which would permit its operation at substantially its design level; and (b) the asset is, in fact, in operation at that level. This allocation has been prepared based on statutes and regulations existing as of this date. The City reserves the right to amend this allocation to the extent permitted by future Treasury Regulations or similar authorities. By: Title: Dated: Name of Legal Counsel/Law Firm Reviewing Final Written Allocation: Date of Review: Parties 1