Termination Payment Prior to Commercial Operation Date Sample Clauses

Termination Payment Prior to Commercial Operation Date. (A) If the termination of this Agreement due to a Seller Event of Default occurs before the Commercial Operation Date, then the Termination Payment shall be owed to Buyer and shall be calculated in accordance with Section 7.3(b)(ii). (B) If termination of this Agreement due to a Buyer Event of Default occurs before the Commercial Operation Date then the Termination Payment shall be owed to Seller and shall equal the sum of the actual, documented and verifiable costs incurred by Seller between the Effective Date and the date of termination in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (1) the individual assets acquired by Seller for the Project, or (2) the entire Project, 10 Note to Bidder – To be determined on a Project-by-Project basis.
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Termination Payment Prior to Commercial Operation Date. If the Early Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(a). (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to CHGE and shall equal the Development Security, plus any interest accrued thereon. CHGE shall be entitled to retain all funds held as Development Security and any interest accrued thereon. There will be no amounts owed to Owner. (ii) If CHGE is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Early Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.
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Termination Payment Prior to Commercial Operation Date. If the Early Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.03(a). (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to RG&E and shall equal the Development Security, plus any interest accrued thereon. RG&E shall be entitled to retain all funds held as Development Security and any interest accrued thereon. There will be no amounts owed to Owner. (ii) If RG&E is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Early Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.
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Termination Payment Prior to Commercial Operation Date. If the Early Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.03(a). (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to NYSEG and shall equal the Development Security, plus any interest accrued thereon. NYSEG shall be entitled to retain all funds held as Development Security and any interest accrued thereon. There will be no amounts owed to Owner. (ii) If NYSEG is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Early Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.
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Termination Payment Prior to Commercial Operation Date. If the Default Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.03(a). (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to CECONY and shall equal the Development Security, plus any interest accrued on the Development Security, less any Substantial Completion Delay Liquidated Damages previously paid by Owner as of the Default Termination Date. There will be no amounts owed to Owner. (ii) If CECONY is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Default Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.
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Related to Termination Payment Prior to Commercial Operation Date

  • Commercial Operation Date 6.4.1 The SPV shall ensure that the Project Commercial Operation Date is achieved on or prior to the Scheduled Commercial Operation Date. The SPV shall provide a written notice to MSEDCL at least 30 (thirty) days in advance intimating MSEDCL of the proposed date on which the Commercial Operation Date of a Unit or the Project is proposed to be achieved. 6.4.2 If the Commercial Operation Date for the Units having a capacity equivalent to at least 75% (seventy five percent) of the Contracted Capacity is achieved before the Scheduled Commercial Operation Date, then all Units in respect of which the Commercial Operation Date has been achieved prior to the Scheduled Commercial Operation Date would be eligible for incentives as follows: (a) the Unit(s) injecting energy at 11 kV /22 kV shall be given an incentive of Rs. 0.25/ kWh; and (b) the Unit(s) injecting energy at 33 kV shall be given an incentive of Rs. 0.15/ kWh, for the power sold to MSEDCL for the first 3 (three) years from the Commercial Operation Date. To receive such incentives from MSAPL, which shall be over and above the Tariff, the SPV shall follow the process agreed to by the SPV under the Implementation Agreement. 6.4.3 It is hereby clarified that the aforementioned incentive shall not be available: (i) in respect of any Unit if the Commercial Operation Date for such Unit has not been achieved prior to the Scheduled Commercial Operation Date; and (ii) if the aggregate capacity of the Units for which the Commercial Operation Date has been achieved prior to Scheduled Commercial Operation Date is less than 75% (seventy five percent) of the Contracted Capacity. 6.4.4 In the event that Commercial Operation Date for any of the Units is achieved after the Scheduled Commercial Operation Date, the SPV shall be liable to pay Liquidated Damages as per the provisions set out below. 6.4.5 Without prejudice to any other rights of MSEDCL under this PPA, in case one or more Units of the SPV are unable to achieve Commercial Operation Date within a period of 2 (two) months from the Scheduled Commercial Operation Date, the capacity of such Units shall be annulled, and the Contracted Capacity shall be reduced to that extent. For Illustration: The Project has a Contracted Capacity of 100 MW and comprises of 10 Units of 10 MW each. If at the end of the aforementioned period of 14 (fourteen) months from the Effective Date, the SPV has achieved Commissioning for only 8 out of 10 Units, then the Contracted Capacity of the Project will stand reduced for the capacity of the 2 Units which have not been Commissioned, i.e. the Contracted Capacity will be 80 (100 (original Contracted Capacity)) – 10 (capacity of each Unit)*2 (number of Units not Commissioned).

  • Termination Date Determination Seller will not designate the Termination Date (as defined in the Receivables Sale Agreement), or send any written notice to Originator in respect thereof, without the prior written consent of the Agent, except with respect to the occurrence of such Termination Date arising pursuant to Section 5.1(d) of the Receivables Sale Agreement.

  • Commercial Operation (i) On or before December 31, 2021, Interconnection Customer must demonstrate commercial operation of all generating units. Demonstrating commercial operation includes achieving Initial Operation in accordance with Section 1.4 of Appendix 2 to this ISA and making commercial sales or use of energy, as well as, if applicable, obtaining capacity qualification in accordance with the requirements of the Reliability Assurance Agreement Among Load Serving Entities in the PJM Region.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Post-Termination Cooperation Following any termination of this Agreement, all Parties shall thereafter cooperate fully and work diligently in good faith to achieve an orderly resolution of all matters resulting from such termination.