Beginning on the Commercial Operation Date Sample Clauses

Beginning on the Commercial Operation Date and from time to time thereafter, Seller shall provide the equipment needed to dispatch the Facility in accordance with the requirements of the Transmission Provider.
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Beginning on the Commercial Operation Date. Seller shall provide default security (“Default Security”) for its performance hereunder. For such purposes, the Default Security shall be composed of a Letter of Credit to the benefit of PacifiCorp established by Seller on or before the Scheduled Commercial Operation Date and will initially be in the amount of‌ $4,210,000 and adjusted according to the following schedule: On January 1 (or the next Business Day) of the calendar year following the Commercial Operation Date, Seller shall increase the amount of Default Security to $5,040,000. On January 1 (or the next Business Day) of the second calendar year following the Commercial Operation Date, Seller shall increase the amount of Default Security to $5,940,000. On January 1 (or the next Business Day) of the 3rd calendar year following the Commercial Operation Date, Seller shall increase the amount of Default Security to $6,845,000. On January 1 (or the next Business Day) of the 4th calendar year following the Commercial Operation Date, Seller shall increase the amount of Default Security to $7,470,000. Then, if Seller has performed in accordance with the terms of this Agreement, on January 1 (or the next Business Day) of the sixth calendar year following the Commercial Operation Date, Seller may reduce the Default Security to $6,320,000; on January 1 (or the next Business Day) of the seventh calendar year following the Commercial Operation Date, Seller may reduce the amount of the Default Security to $5,270,000, and on January 1 (or the next Business Day) of the eighth calendar year following the Commercial Operation Date, Seller may reduce the amount of the Default Security to $4,225,000, and on January 1 (or the next Business Day of the ninth calendar year following the Commercial Operation Date, Seller may reduce the amount of the default security to $3,680,000, at which level it shall remain for the duration of the Agreement. To the extent of any draw on the Letter of Credit, Seller shall, within thirty (30) days, restore the amount of the Letter of Credit such that the amount of Default Security held by PacifiCorp shall be the amount as if no such deduction had occurred. Seller has represented that it may at some future date seek debt financing (the “Future Debt”). In the event that Seller’s senior unsecured debt rating with respect to the Future Debt (or in the event Seller has no such Future Debt, its corporate credit rating) has a Standard & Poor’s rating of “BBB-” or above (so long as a rating of...
Sample 1
Beginning on the Commercial Operation Date but not later than January 1, 2014, the annual royalty payable to COUNTY for each calendar year will not be less than the amount shown in the table below as long as the annual average Landfill Gas available to the Conversion System and the Flare Facility during any such calendar year is not less than 217 MMBTU/hr (Lower Heating Value). If the Commercial Operation Date occurs prior to January 1, 2014, the minimum annual royalty will be subject to pro rata reduction based on the number of calendar months the Conversion System operated in that calendar year. If the Conversion System ceases operation on any day prior to December 31 in the final year of operation, the minimum annual royalty will be subject to pro rata reduction based on the number of calendar months the Conversion System operated in that calendar year. Years 1-5 following COD or January 1, 2014 $500,000 Years 6-10 following COD or January 1, 2014 $750,000 Years 11-15 following COD or January 1, 2014 $1,000,000 Each year thereafter $1,250,000 For clarification, the minimum annual royalty is to be calculated and paid as follows: Each quarter the royalty payment is to be calculated as set forth above. After the fourth quarter royalty payment is calculated, the minimum annual royalty due for any given year except the last year of operation of the Conversion System would be the greater of: (1) the royalty as calculated per Section 1.4(i) and 1.4(ii) or (2) the minimum annual royalty amount in the above table. The minimum annual royalty payment is due with the fourth quarter payment of each year. Prepayment of the amount due is allowable. Royalties paid pursuant to the sales of Flare Products as per Section 1.4(iii) or LNG Section 1.4(iv) are not applicable towards the calculation to meet the minimum annual royalty.
Sample 1

Related to Beginning on the Commercial Operation Date

  • Commercial Operation Date (COD) Bus Terminal and Commercial Complex shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Bus Terminal and Commercial Complex shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Fee in accordance with provisions of Article 27 and that the entry of Bus Terminal or part thereof into commercial service shall always be subject to compliance with the provisions of Clause 18.3 and Clause 26.2.

  • Beginning Date Both parties agree that negotiations for a new contract shall commence no later than 30 days after ratification of the current collective bargaining agreement in a good faith effort to reach a contract. The Association agrees to give the Board notice of intent to negotiate a contract a minimum of sixty (60) days prior to the expiration of the contract in force at the time and also notify Public Employees Relations Commission in writing of this intent.

  • Commercial Operation Date (COD 15.1.1 The Project shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Project shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Annuity Payments in accordance with the provisions of this 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.

  • Month A period commencing at 10:00 a.m., Eastern Standard Time, on the first Day of a calendar month and extending until 10:00 a.m., Eastern Standard Time, on the first Day of the next succeeding calendar month. Monthly shall have the correlative meaning.

  • Beginning (i) no earlier than eleven (11) weeks before the expected birth date, and

  • Holiday Falling on a Scheduled Workday‌ A team member who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double-time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double-time and one-half for hours worked, plus a day off in lieu of the holiday. The scheduling of the lieu day shall be in accordance with Appendix 4.

  • Holiday Falling on a Scheduled Workday An employee who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double-time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double-time and one-half for hours worked, plus a day off in lieu of the holiday.

  • Meal Period A Contractor shall schedule an unpaid period of not more than 1/2 hour duration at the work location between the 3rd and 5th hour of the scheduled shift. A Contractor may, for efficiency of operation, establish a schedule which coordinates the meal periods of two or more crafts. If an employee is required to work through the meal period, the employee shall be compensated in a manner established in the applicable Schedule A.

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

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