Achievement of Milestone Events Sample Clauses

Achievement of Milestone Events. The Operator must: use reasonable endeavours to achieve each Milestone Event on or before the relevant Milestone Date (Scheduled) including achieving Commercial Operation on or before the COD (Target); and achieve Commercial Operation on or before the COD (Sunset). If a Milestone Event is not achieved by the relevant Milestone Date (Scheduled), the Operator must continue to use reasonable endeavours to achieve the Milestone Event as soon as reasonably practicable after the relevant Milestone Date (Scheduled). The Operator must notify the Commonwealth 20 Business Days prior to the date on which it reasonably expects to achieve a Milestone Event. If after the Operator provides that notice to Commonwealth, the date on which the Operator reasonably expects to achieve that Milestone Event changes, the Operator must notify the Commonwealth promptly of the revised date. The Operator must notify the Commonwealth that it has achieved a Milestone Event within 510 Business Days after achievingbecoming aware that it has achieved that Milestone Event. The Operator must provide to the Commonwealth with that notice objective evidence which demonstrates that the relevant Milestone Event has been achieved, and must promptly provide any further information reasonably requested by the Commonwealth regarding the achievement of that Milestone Event within 5 Business Days after being requested to do so. Notwithstanding anything to the contrary in this Agreement, a Milestone Event will not have been achieved unless and until the Operator has provided to the Commonwealth: in relation to the Milestone Event related to Commercial Operations only, evidence from an appropriately qualified independent professional firm nominated by the Operator and approved by the Commonwealth (acting reasonably) and which has no actual or perceived conflict of interest which demonstrates that the relevant Milestone Event has been achieved. The Operator must ensure that the professional firm providing that independent evidence has agreed to permit the Commonwealth to rely on that evidence (subject to standard and reasonable limitations of liability and qualifications which that firm imposes on such reliance in the ordinary course of its business) and is liable to the Commonwealth for the contents of that evidence; a certificate from a director of the Operator that the information contained in the notice referred to in clause 5.1(c)5.1(d) is true, complete and accurate; and such other information or do...
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Related to Achievement of Milestone Events

  • Project/Milestones Taxpayer provides refrigerated warehousing and logistic distribution services to clients throughout the United States. In consideration for the Credit, Taxpayer agrees to invest in a new refrigeration and distribution facility in the XxXxxxxxx Park area of Sacramento, California, and hire full-time employees (collectively, the “Project”). Further, Taxpayer agrees to satisfy the milestones as described in Exhibit A (“Milestones”) and must maintain Milestones for a minimum of three (3) taxable years thereafter. In the event Taxpayer employs more than the number of full-time employees, determined on an annual full-time equivalent basis, than required in Exhibit A, for purposes of satisfying the “Minimum Annual Salary of California Full-time Employees Hired” and the “Cumulative Average Annual Salary of California Full-time Employees Hired,” Taxpayer may use the salaries of any of the full-time employees hired within the required time period. For purposes of calculating the “Minimum Annual Salary of California Full-time Employees Hired” and the “Cumulative Average Annual Salary of California Full-time Employees Hired,” the salary of any full-time employee that is not employed by Taxpayer for the entire taxable year shall be annualized. In addition, the salary of any full-time employee hired to fill a vacated position in which a full-time employee was employed during Taxpayer’s Base Year shall be disregarded.

  • Milestones Subject to the provisions of the SGIP, the Parties shall agree on milestones for which each Party is responsible and list them in Attachment 4 of this Agreement. A Party’s obligations under this provision may be extended by agreement. If a Party anticipates that it will be unable to meet a milestone for any reason other than a Force Majeure event, it shall immediately notify the other Parties of the reason(s) for not meeting the milestone and (1) propose the earliest reasonable alternate date by which it can attain this and future milestones, and (2) requesting appropriate amendments to Attachment 4. The Party affected by the failure to meet a milestone shall not unreasonably withhold agreement to such an amendment unless it will suffer significant uncompensated economic or operational harm from the delay, (1) attainment of the same milestone has previously been delayed, or (2) it has reason to believe that the delay in meeting the milestone is intentional or unwarranted notwithstanding the circumstances explained by the Party proposing the amendment.

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