First Date of Operations definition

First Date of Operations refers to the first day of the calendar month immediately following the date on which the Company demonstrates to the satisfaction of the City that the Company has fully complied with all the provisions of Sections 3.1.1, 3.1.2, 3.1.3, and 3.1.4, unless such date actually falls on the first day of any calendar month.
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First Date of Operations refers to the first day of the calendar month immediately following the date on which the Company demonstrates to the satisfaction of the City that the Company has made a Minimum Required Capital Investment in the Property of at least $45,000,000 and has fully complied with all the provisions of Sections 3.1.1 and 3.1.3, unless such date actually falls on the first day of any calendar month.
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First Date of Operations refers to the first day of the calendar month immediately following the date on which the Company demonstrates to the satisfaction of the County that the Company has fully complied with all the provisions of Subsections 2.1.1, 2.1.2, and 2.1.4, unless such date actually falls on the first day of any calendar month. To ensure that the payments set forth in section 3 may be properly calculated, the parties shall agree in writing regarding what day shall be deemed the First Date of Operations. The First Date of Operations shall be the same under this Agreement as it is in the Economic Incentive Contract between the Company and the City of Durham, dated October 26, 2012, regarding the Hotel.
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Examples of First Date of Operations in a sentence

  • In the event the Company fails to provide such required certification(s) pursuant to Section 3.1 above within 18 months after the First Date of Operations, either party shall have the right to terminate this Agreement.

  • If, however, the First Date of Operations was established to be December 20, 2014, the earliest the Company could invoice the City for the Year 1 City Payment would be January 1, 2016.

  • By way of example, if the First Date of Operations is determined to be March 1, 2015, the earliest that the Company could invoice the City for the Year 1 City Payment would be January 1, 2017.

  • By way of example, if the First Date of Operations is determined to be June 1, 2017, the earliest that the Company could invoice the City for the Year 1 City Payment would be July 1, 2018.

  • The Company may invoice the City for the Year 1 City Payment no earlier than July 1 of the first calendar year that begins after the First Date of Operations.

  • No sooner than 9-months after the First Date of Operations, the Company may invoice the City for the 1st semi-annual Base Incentive Payment for payment year 1 as outlined in Exhibit C, “City Incentive Payment Schedule.” The Company may invoice the City for the 2nd semi-annual Base Incentive Payment for payment year 1 no sooner than 15 months after the First Date of Operations and only after the Company has paid the City the Guaranteed Revenue Gap Payment for payment year 1, if required.

  • The following table shows the applicable period for which Continuous Occupancy of 65% is required to be eligible for City Payments: CITY PAYMENT APPLICABLE CONTINUOUS OCCUPANCY PERIOD 1st and 2nd City Payments Not Applicable 3rd City Payment The period between the 2nd and 3rd anniversary of the First Date of Operations (i.e, a 1-year look back).

  • Upon establishment of the First Date of Operations, the Company may invoice the City for the Year 1 City Payment no earlier than January 1 of the calendar year after the 1st year anniversary of the First Date of Operations.

  • Upon establishment of the First Date of Operations, the Company may invoice the City for the Year 1 City Payment no earlier than January 1 of the calendar year immediately following the date on which the 1st year anniversary of the First Date of Operations occurs.

  • In the event the Company fails to provide such required certification(s) pursuant to Section 3.1 above within 18 months after the First Date of Operations, either party shall have the right to terminate this Agreement without becoming liable to the other for any damages as a result of such termination.

Related to First Date of Operations

  • Areas of Operations means the locations where PURCHASER performs the operations described in the contract.

  • Commencement of Operations means the beginning of active operations by a qualifying business of the principal function for which a qualifying project was constructed.

  • Hours of Operation are the hours established by the Employer to provide adequate service to the public and to fulfil the functions of the work unit.

  • AREA OF OPERATIONS means the Company's oilfield operations in the States of Assam and Arunachal Pradesh.

  • Certificate of operation means a document issued by the administrator or an approved local jurisdiction for a conveyance indicating that the conveyance has been inspected by the administrator, an approved local jurisdiction, or a licensed third-party conveyance inspector and approved under this article.