Commercial Operation Payments Sample Clauses

Commercial Operation Payments. Pursuant to the terms contained herein, Applicant shall pay the County a total of Five Million, Six Hundred Thousand Dollars ($5,600,000.00), the “Total Commercial Operations Payment. Upon the Solar Facility achieving Commercial Operation, the Total Commercial Operations Payment shall be payable pursuant to the terms below. As used herein, “Commercial Operation” or “Commercial Operation Date” means the date on which all or a portion of the Solar Facility becomes fully operational and begins selling power under the terms of a power purchase or offtake agreement. Generation of test energy shall not be deemed Commercial Operation. In the event the entire Solar Facility achieves Commercial Operation on a single Commercial Operation Date, the Total Commercial Operation Payment will be made in one lump sum within ninety (90) days of the Commercial Operation Date. In the event the Solar Facility achieves Commercial Operation in phases, the balance of the Total Commercial Operation Payment shall be made on a pro-rata basis based on the megawatt capacity of the individual phase of the Project achieving Commercial Operation relative to the total rated nameplate capacity of the Solar Facility, in MWac, (each a “Solar Commercial Operation Payment”). These pro-rata Solar Commercial Operation Payments shall be due within ninety (90) days of a given phase of the Solar Facility achieving Commercial Operation. By example and for the avoidance of doubt, three hundred (300) MWac phase of the Solar Facility achieves Commercial Operation, Applicant will pay the County a Solar Commercial Operation Payment of Two Million, Eight Hundred Thousand Dollars ($2,800,000.00) within ninety days of the Commercial operation date of that phase. The remaining balance of the Total Commercial Operation Payment will be due as the remaining phase or phases of the Solar Facility achieves Commercial Operation. Commercial operation payments for Solar Facilities ($5.6M) shall be prorated based on the nameplate capacity of the facility. If the nameplate capacity of the Solar Facility is less than 600 MWac, then the Commercial Operation Payment shall be reduced proportionally to reflect the reduced capacity. In the event that nameplate capacity at any later date is increased for any portion of Solar Facility, then the Commercial Operation Payment shall be adjusted upward accordingly and Applicant shall make such payments to the County at that time.
Sample 1
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Commercial Operation Payments. Five Million Dollars ($5,00,000.00) payable in installments as described below, commencing on the first anniversary of the Commercial Operation Date and continuing on each subsequent anniversary of the Commercial Operation Date thereafter for a period of seven (7) years:
Sample 1

Related to Commercial Operation Payments

  • REPORT ON CONTRACT SALES ACTIVITY AND ADMINISTRATIVE FEE PAYMENT A. CONTRACT SALES ACTIVITY REPORT. Each calendar quarter, Supplier must provide a contract sales activity report (Report) to the Sourcewell Supplier Development Administrator assigned to this Contract. Reports are due no later than 45 days after the end of each calendar quarter. A Report must be provided regardless of the number or amount of sales during that quarter (i.e., if there are no sales, Supplier must submit a report indicating no sales were made). The Report must contain the following fields: • Participating Entity Name (e.g., City of Staples Highway Department); • Participating Entity Physical Street Address; • Participating Entity City; • Participating Entity State/Province; • Participating Entity Zip/Postal Code; • Participating Entity Contact Name; • Participating Entity Contact Email Address; • Participating Entity Contact Telephone Number; • Sourcewell Assigned Entity/Participating Entity Number; • Item Purchased Description; • Item Purchased Price; • Sourcewell Administrative Fee Applied; and • Date Purchase was invoiced/sale was recognized as revenue by Supplier. B. ADMINISTRATIVE FEE. In consideration for the support and services provided by Sourcewell, the Supplier will pay an administrative fee to Sourcewell on all Equipment, Products, and Services provided to Participating Entities. The Administrative Fee must be included in, and not added to, the pricing. Supplier may not charge Participating Entities more than the contracted price to offset the Administrative Fee. The Supplier will submit payment to Sourcewell for the percentage of administrative fee stated in the Proposal multiplied by the total sales of all Equipment, Products, and Services purchased by Participating Entities under this Contract during each calendar quarter. Payments should note the Supplier’s name and Sourcewell-assigned contract number in the memo; and must be mailed to the address above “Attn: Accounts Receivable” or remitted electronically to Sourcewell’s banking institution per Sourcewell’s Finance department instructions. Payments must be received no later than 45 calendar days after the end of each calendar quarter. Supplier agrees to cooperate with Sourcewell in auditing transactions under this Contract to ensure that the administrative fee is paid on all items purchased under this Contract. In the event the Supplier is delinquent in any undisputed administrative fees, Sourcewell reserves the right to cancel this Contract and reject any proposal submitted by the Supplier in any subsequent solicitation. In the event this Contract is cancelled by either party prior to the Contract’s expiration date, the administrative fee payment will be due no more than 30 days from the cancellation date.

  • Post-Commercial Operation Date Testing and Modifications Each Party shall at its own expense perform routine inspection and testing of its facilities and equipment in accordance with Good Utility Practice as may be necessary to ensure the continued interconnection of the Large Generating Facility with the Participating TO’s Transmission System in a safe and reliable manner. Each Party shall have the right, upon advance written notice, to require reasonable additional testing of the other Party’s facilities, at the requesting Party’s expense, as may be in accordance with Good Utility Practice.

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