Common use of COD Delay Termination Right Clause in Contracts

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level and/or Net Generation Capacity level (as applicable) lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date 36 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level and/or Net Generation Capacity level (as applicable) lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD 37 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if If the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial 15 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the liquidated damages amount contemplated required by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level lower than the COD Capacity Threshold (prior to any resizing) and/or at 17 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to:: 17 NTD: NTD: The 150-day period assumes the Guaranteed Commercial Operation Date on the Effective Date is May 31, 2025. If the Guaranteed Commercial Operation Date on the Effective Date is earlier than May 31, 2025, the cap on Force Majeure Extension will be increased day-for-day, up to a maximum of thirty (30) additional days. If the Guaranteed Commercial Operation Date on the Effective Date is later than May 31, 2025, the cap on Force Majeure Extension will be reduced day-for-day until the cap is zero (0) days. 18 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level and/or Net Generation Capacity level (as applicable) lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level and/or Net Generation Capacity level (as applicable) lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by 16 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.

COD Delay Termination Right. (a) Without limiting Section 15.2, if the Commercial Operation Date does not occur on or before the COD Termination Deadline, then Buyer shall have the right, exercisable by notice to Seller at any time thereafter until the Commercial Operation Date occurs, to: (i) terminate this Agreement upon notice to Seller (and to receive the Termination Payment); or (ii) if, at a lower COD Capacity Threshold and/or Storage COD Capacity Threshold, Seller would have satisfied all of the conditions to the Commercial Operation Date, require Seller to resize (A) the Expected Capacity to the highest COD Capacity Threshold and/or (B) the Storage Expected Capacity to the highest Storage COD Capacity Threshold, in each case, at which Seller satisfies all of the conditions to the Commercial Operation Date. (b) If (i) Buyer’s right to terminate set forth in Section 3.8(a) applies and Buyer has not elected to terminate within sixty (60) Days after the COD Termination Deadline, (ii) at an Available Capacity level lower than the COD Capacity Threshold (prior to any resizing) and/or at a Storage Available Capacity level lower than the Storage COD Capacity Threshold (prior to any resizing), Seller has satisfied all of the conditions to the Commercial Operation Date and (iii) Seller is in compliance with its obligation under Section 3.13, Seller shall have the right, exercisable by notice to Buyer and payment of the amount contemplated by Section 3.9 at any time thereafter until the Commercial Operation Date occurs, to resize (A) the Expected Capacity to the highest Available Capacity level (which may be less than the COD Capacity Threshold (prior to any 16 NTD: Amount to be calculated by multiplying the Expected Capacity by $500/MW. resizing)) and/or (B) the Storage Expected Capacity to the highest Storage Available Capacity level (which may be less than the Storage COD Capacity Threshold (prior to any resizing)) at which Seller satisfies all of the conditions to the Commercial Operation Date.