Build-Operate Sample Clauses

Build-Operate. Transfer (BOT): Under BOT, a government requests the private promoter to design, build and operate the facility for an agreed period and after this period, transfer ownership to the government free of cost and this is the main idea of (BOT). In the other word, BOT is an arrangement where the private sector designs and builds the infrastructure, funds its construction facility and owns, maintains and operates it over an agreed period often as long as 20 to 50 years. The period is referred to as the 'concession' period. At the end of the concession period, the facility is transferred back to the government, after the project company has obtained a positive return for its equity investors.5 During the concession period,the company receives sufficient revenue to: “service debt incurred in designing and building the facility, cover its working capital and maintenance costs, repay its equity investors and hopefully provide them a reasonable profit ”.6 In a BOT project, participants include the government, the concessionaire (a private company), lenders (banks), contractors, equity investors, suppliers, operators and financial advisers.7These schemes are also referred to as ‘BOO’(Build-Own-Operate), ‘BOOT’ (Build-Own- Operate-Transfer), ‘FBOOT’ (Finance-Build-Own-Operate-Transfer) or rarely other acronyms. BOT agreements could be used for an oil refinery, power station, new road or bridge, water treatment plant, all of which would 1X Phomsoupha, ‘Project Financing in Laos’ Hydropower for Export of Electricity to Thailand’ (2012) 10 Hydro Nepal: Journal of Water, Energy and Environment 7-10. 2AAPallis, T E Notteboom and XX Xx Xxxxxx, ‘Concession agreements and market entry in the container terminal industry’ (2008)10 Maritime Economics & Logistics 209-228. 3D Xxxxxxx and X X Xxxxx, Public and Private Partnerships. The Worldwide Revolution in Infrastructure Provision and Project Finance (Xxxxxx Xxxxx, Cheltenham 2004) p. 47-48. 4Yescombe, op. cit., p. 79-80. 5S K Xxxxxxxx, ‘Prospects of BOT (Build-Operate-Transfer) Projects for Infrastructure Development in Nepal’ (2011) 8 Journal of the Institute of Engineering 138–142 6ibid. 7 S M JAD, ‘Build, Operate, And Transfer (BOT). Project Development System In Saudi Arabia’, [web document] (2005),<xxxx://xxxxxxx.xxxxx.xxx.xx/CEM/assaf/Students_Reports/Build-Operate-and-Transfer-Project.pdf> accessed 9 Jan 2016. previously have seen direct funding.1The Turkish Government used the first BOT on a power plant project in the e...
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Build-Operate. Transfer type of Concession means, according to the Law on Concession, provision 4.1.1, the Concessionaire shall build the Concession item with its own and its own raised funds, operate it within term of agreement and transfer upon expiry of the Agreement to the state property as per conditions stated in the Agreement.

Related to Build-Operate

  • Use and Operation 3.1 Permitted Use ......................................................................................................

  • 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.

  • Management and Operations 15.1 The Operator shall prepare an annual work programme and budget for each Calendar Year during the term of this Agreement. Each such work programme and budget shall set out in reasonable details, the work to be carried out, facilities to be purchased or created, training and employment programme, establishment, salaries and wages, social welfare schemes to be undertaken, and an estimate of the Expenditure to be incurred. The Operator shall present such work programme and budget to the Government and the Working Interest Owners before the start of each Calendar Year and thereafter provide a quarterly update on the implementation of such work programme and budget.

  • Shift Operation When a three (3) shift operation is established by the Employer, the following conditions will apply: Those employees working on the day shift shall work eight (8) hours at the straight time rate. Those employees working on the afternoon shift shall work seven and one-half (7 1/2) hours per shift. A shift differential of one-seventh (1/7) shall be paid for all normal scheduled shift hours worked. Those employees working on the night shift shall work seven (7) hours per shift. A shift differential of one-fifth (1/5) shall be paid for all normal scheduled shift hours worked.

  • Co-operation 1. The Parties shall take all appropriate and necessary measures to ensure fulfilment of the obligations and objectives arising out of this programme agreement.

  • Limited Operation If any of the Connecting Transmission Owner’s Attachment Facilities or System Upgrade Facilities or System Deliverability Upgrades are not reasonably expected to be completed prior to the Commercial Operation Date of the Developer’s Large Generating Facility, NYISO shall, upon the request and at the expense of Developer, in conjunction with the Connecting Transmission Owner, perform operating studies on a timely basis to determine the extent to which the Developer’s Large Generating Facility and the Developer’s Attachment Facilities may operate prior to the completion of the Connecting Transmission Owner’s Attachment Facilities or System Upgrade Facilities or System Deliverability Upgrades consistent with Applicable Laws and Regulations, Applicable Reliability Standards, Good Utility Practice, and this Agreement. Connecting Transmission Owner and NYISO shall permit Developer to operate the Developer’s Large Generating Facility and the Developer’s Attachment Facilities in accordance with the results of such studies.

  • Maintenance and Operation Member-Generator agrees to maintain their system and facilities in accordance with applicable manufacturer's recommended maintenance schedule and standard prudent engineering practices. Member-Generator covenants and agrees to operate their system, facilities and equipment so as to minimize the likelihood for a malfunction or other disturbance, damaging or otherwise affecting or impairing Cooperative’s electrical system. Member-Generator shall comply with all applicable laws, regulations, zoning, building codes, safety rules and other environmental regulations or restrictions applicable to the design, installation, operation and maintenance of the Member-Generator's System. Member-Generator must, at least once every year, conduct a test to confirm that Member-Generator’s System automatically ceases to energize the output (interconnection equipment output voltage goes to zero) within two (2) seconds of being disconnected from Cooperative’s electrical system. Disconnecting the Member-Generator’s System from Cooperative’s electrical system at the visible disconnect switch and measuring the time required for the unit to cease to energize the output shall satisfy this test. Member-Generator shall maintain a record of the results of these tests and, upon request by Cooperative, shall provide a copy of the test results to Cooperative. If Member-Generator is unable to provide a copy of the test results upon request, Cooperative shall notify Member- Generator by mail that Member-Generator has thirty (30) days from the date Member-Generator receives the request to provide Cooperative with the results of a test. If Member-Generator does not provide Cooperative with the test results within the thirty (30) day time period or if the test results provided to Cooperative show that Member-Generator’s net metering unit is not functioning correctly, Cooperative may immediately disconnect Member-Generator’s System from Cooperative’s electrical system. If Member-Generator’s equipment ever fails this test, Member-Generator shall immediately disconnect Member-Generator’s System from Cooperative's electrical system. Member-Generator’s System shall not be reconnected to Cooperative's electrical system by the Member-Generator until Member-Generator’s System is repaired and operating in a normal and safe manner. Cooperative shall have the right to have a representative present and informed when any such tests are conducted. Cooperative does not warrant the testing procedures or results by the presence of its representative. Member-Generator is responsible for protecting their equipment from transient high voltage spikes caused by lightning and/or transient low voltage conditions caused by faults or short circuits, and from any other causes or events. Therefore, Cooperative shall not be responsible for damage to Member-Generator’s equipment allegedly caused by transient high voltage spikes caused by lightning and/or transient low voltage conditions caused by faults or short circuits or other causes or events. Member-Generator agrees to notify Cooperative no less than thirty (30) days prior to modification of the components or design of the Member-Generator’s System that in any way may degrade or significantly alter the System’s output characteristics. Member-Generator acknowledges that any such modifications will require submission of a new Application and Agreement to Cooperative.

  • Completed Operations For Construction Agreements, Contractor shall maintain insurance as required by this Agreement to the fullest amount allowed by law and shall maintain insurance for a minimum of five (5) years following the completion of this project. In the event Contractor fails to obtain or maintain completed operations coverage as required by this Agreement, the City at its sole discretion may purchase the coverage required and the cost will be paid by Contractor. THE FOLLOWING PROVISIONS APPLY TO ALL AGREEMENTS Deductibles and Self-Insured Retentions (“SIR”): Any deductibles or self-insured retentions must be declared to and approved by City. The City may require the Contractor or Consultant to purchase coverage with a lower deductible or retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. At the option of the City, either (1) the insurer shall reduce or eliminate such deductibles or self-insured retentions as respects the City, its elected and appointed officials, officers, attorneys, agents, and employees; or (2) the Contractor or Consultant shall procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. All SIRs must be disclosed to Risk Management for approval and shall not reduce the limits of liability. Policies containing any SIR provision shall provide or be endorsed to provide that the SIR may be satisfied by either the named insured or the City. City reserves the right to obtain a full-certified copy of any insurance policy and endorsements. Failure to exercise this right shall not constitute a waiver of right to exercise later. Acceptability of Insurers: Insurance is to be placed with insurers with a current A.M. Best’s rating of no less than A-:VII, unless otherwise acceptable to City. Claims Made Policies: (note - should be applicable only to professional liability, see below)

  • Initial Operation The following requirements shall be satisfied prior to Initial Operation of the Customer Facility:

  • STANDARDS OF MANAGEMENT AND OPERATIONS In performing its obligations hereunder, during the term of this ESA, the Competitive Supplier shall exercise reasonable care to assure that its facilities are prudently and efficiently managed; that it employs an adequate number of competently trained and experienced personnel to carry out its responsibilities; that it delivers or arranges to deliver a safe and reliable supply of such amounts of electricity to the Point of Delivery as are required under this ESA; that it complies with all relevant industry standards and practices for the supply of electricity to Participating Consumers; and that, at all times with respect to Participating Consumers, it exercises good practice for a Competitive Supplier and employs Commercially Reasonable skills, systems and methods available to it.

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