Agreement to Decommission; Restoration Fund Amount Sample Clauses

Agreement to Decommission; Restoration Fund Amount. Company shall decommission each Generating Unit and related improvements pursuant to the terms of this Agreement, with detailed Plan related thereto described in Attachment A attached hereto. The Company shall decommission each Generating Unit and related improvements upon the discontinuation of use, which shall be deemed to occur upon 1) the failure of such Generating Units to produce electricity for twelve (12) consecutive months unless a plan outlining the steps and schedule for returning the Generating Units to service is submitted and approved by the Building Department within the twelve (12) month discontinuation period or 2) written notice from the Company to the County that decommissioning is otherwise commencing. Decommissioning shall include: (i) removal from the property of each Generating Unit and related improvements installed or constructed by Company, (ii) fill in and compact all trenches or other borings or excavations made by Company on the property, (iii) leave the surface of the property free from debris, and (iv) use reasonable efforts to restore the Property to farmable condition, as more 21657899.v7 particularly described in Attachment B (Agricultural Soil Reclamation Plan) attached hereto. A reasonable estimated completion date shall be provided to the Building Department. In the event of a force majeure or other event which results in the absence of electrical generation for twelve (12) months, by the end of the twelfth month of non-operation, Company shall provide a plan to the County Building Department for its approval setting out that the Project will be substantially operational and producing electricity within twenty-four (24) months of the force majeure or other event. If such a demonstration is not made to the reasonable satisfaction of the Building Department, the decommissioning must be initiated within twelve (12) months after the force majeure or other event. The approval of the Building Department of such a plan may not be unreasonably withheld. County considers a force majeure to be due to the following causes: acts of God, war, civil commotion, riots or damage to work in progress by reason of fire or other casualty, strikes, lock outs or other labor disputes, delays in transportation, inability to secure labor or materials in the open market, war, terrorism, sabotage, civil strife or other violence, improper or unreasonable acts or failures to act by the County, the failure of any governmental authority to issue any p...
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Agreement to Decommission; Restoration Fund Amount. Company shall decommission each Generating Unit and related improvements in accordance with the terms of this Agreement and the detailed Plan provided as Attachment A to this Agreement. The Company shall decommission each Generating Unit and related improvements upon the permanent discontinuation of use, which shall be deemed to occur upon the failure of such Generating Units to produce electricity for twelve (12) consecutive months, unless a plan outlining the steps and schedule for returning the Generating Units to service is submitted and approved by the County within the twelve (12) month discontinuation period. Decommissioning shall include: (i) removal from the property of each Generating Unit and related improvements installed or constructed by Company, (ii) fill in and compact all trenches or other borings or excavations made by Company on the property, (iii) leave the surface of the property free from Project debris, and (iv) use reasonably practical efforts to restore the Property to equivalent land use to what existed immediately before construction of the Project, as more particularly described in Attachment B (Agricultural Soil Reclamation Plan) to this Agreement. 20926700.8 In the event of a force majeure or other event which results in the absence of electrical generation for twelve (12) consecutive months, by the end of the twelfth month of non-operation, Company must demonstrate to the County that the Project will be substantially operational and producing electricity within twenty-four (24) months of the force majeure or other event. If such a demonstration is not made to County’s reasonable satisfaction, the decommissioning must be initiated within eighteen (18) months after the force majeure or other event. The approval of the County of such a plan may not be unreasonably withheld. County considers a force majeure to be due to the following causes: acts of God, war, civil commotion, riots or damage to work in progress by reason of fire or other casualty, strikes, lock outs or other labor disputes, delays in transportation, inability to secure labor or materials in the open market, war, terrorism, sabotage, civil strife or other violence, improper or unreasonable acts or failures to act by the County, the failure of any governmental authority to issue any permit, entitlement, approval or authorization within a reasonable period of time after a complete and valid application for the same has been submitted, the effect of any law, proclama...

Related to Agreement to Decommission; Restoration Fund Amount

  • Payment Allocation Subject to applicable law, your payments may be applied to what you owe the Credit Union in any manner the Credit Union chooses. However, in every case, in the event you make a payment in excess of the required minimum periodic payment, the Credit Union will allocate the excess amount first to the balance with the highest annual percentage rate and any remaining portion to the other balances in descending order based on applicable annual percentage rate.

  • Health and Dental Premium Accounts The Employer agrees to provide eligible employees with the option to pay for the employee portion of health and dental premiums on a pretax basis as permitted by law or regulation.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

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