Reform Project Sample Clauses

Reform Project. The Reform Project objective is to create an enabling environment to improve the financial viability of, and to ensure good governance in, the power sector, with the intent of improving the quality and quantity of the electricity supply. This objective encompasses distinct but interconnected results, which are improvements in the financial viability of the electricity sector, the quality of customer service, the reliability of electricity, and the quantity of electricity supplied. The key indicators for these results are, respectively, Senelec’s operating cost-recovery ratio, average customer satisfaction, average frequency and duration of outages, and electricity supply (the sum of domestic electricity generation and imports), plus additional indicators to measure results. For example, adherence with CRSE’s service standards shall be measured and assessed along with overall customer satisfaction. Similarly, electricity supply shall be interpreted in relationship to losses and electricity consumption. Analyzing these indicators in conjunction with consumption per capita and access rates enables MCC and the Government to assess the extent to which changes in electricity consumption levels are driven by new or existing consumers. The Reform Project is comprised of three activities (Sector Governance, Regulatory Strengthening, and Utility Strengthening), which together are expected to achieve the Reform Project Objective. These are designed to re-define the rules of the game (i.e. policy reform), support organizational capacity and performance (i.e. institutional development), and strengthen the relationships among electricity actors. The Sector Governance Activity changes the structure of the sector notably through an update of the legal and regulatory framework, the unbundling of Senelec into public subsidiaries, the creation of a transmission system operator, the re-definition of distribution perimeters, and the clarification of private and public ownership of rural electrification assets. It creates an online “one-stop shop” to reduce the cost of doing business in the electricity sector. It also strengthens the Ministry of Energy’s capacity to plan, monitor, and evaluate investments in the sector, which is expected to improve the cash flow of electricity providers through improved decision-making. Together, these actions are designed to decrease the costs of electricity sector companies along the supply chain from production to retail. The Regulatory Stre...
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Related to Reform Project

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part.

  • Construction Contract; Cost Budget Prior to execution of a construction contract, Tenant shall submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the general conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over-Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (i), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease.

  • Capital Improvements From and after Final Completion, Tenant shall not replace or materially alter the Project, or any part thereof (except as provided to the contrary with respect to Fixtures in Article 13), or make any addition thereto, whether voluntarily or in connection with repairs required by this Lease (collectively, “Capital Improvements”), unless Tenant shall comply with the following requirements and, if applicable, with the additional requirements set forth in Section 11.10: (a) No Capital Improvements shall be undertaken, as applicable, until Tenant shall have procured from all Governmental Authorities and paid for all permits, consents, certificates and approvals for the proposed Capital Improvements which are required to be obtained prior to the commencement of the proposed Capital Improvements (collectively, “Improvement Approvals”). The FCRHA shall not unreasonably refuse to join or otherwise unreasonably refuse to cooperate in the application for any such Improvement Approvals, provided such application is made without cost, expense or liability (contingent or otherwise) to the FCRHA. True copies of all such Improvement Approvals shall be delivered by Tenant to the FCRHA prior to commencement of the proposed Capital Improvements. (b) The Premises after completion of such Capital Improvements, shall have a value at least equal to the value of the Premises immediately before construction of such Capital Improvements. In addition, the Project shall at all times remain in substantial conformity with the original Plans and Specifications therefor (except to the extent specifically consented to by the FCRHA, in its sole but reasonable discretion). (c) All Capital Improvements shall be made with reasonable diligence and continuity (subject to Unavoidable Delays) and in a good and workmanlike manner and in compliance with (i) all Improvement Approvals, (ii) if required pursuant to Section 11.10(a) or (b), in substantial accordance with the plans and specifications for such Capital Improvements as approved by the FCRHA, and (iii) all Applicable Laws. (d) No construction of any Capital Improvement shall be commenced until Tenant shall have delivered to the FCRHA certificates of insurance and copies of the declaration page(s) for the insurance required by Exhibit D. Such insurance policies shall comply with the terms of Section 7.02 above.

  • Construction Budget The total amount of funds indicated by the District for the entire Project plus all other costs, including design, construction, administration, and financing.