Commercial Readiness Sample Clauses

Commercial Readiness. Licensee shall pay to POZEN a one-time non-creditable, non-refundable (which, for clarity, shall not preclude Licensee from recovering damages hereunder) payment in the amount of US$[* * *] (the “Commercial Readiness Payment”) within the later of (a) thirty (30) days following the date of Commercial Readiness, or (b) if Licensee’s termination right pursuant to Section 13.7 has not yet expired, the next Business Day immediately following expiration of Licensee’s right to terminate under Section 13.7, unless Licensee has provided notice of termination pursuant to and in accordance with Section 13.7 prior to or simultaneously with the expiration of either such thirty (30) day period following Commercial Readiness or at any time prior to the expiration of Licensee’s right to terminate under Section 13.7, then in either event no payment shall be due under this Section 7.2.2. For clarity, in no event will the Commercial Readiness Payment be made if the NDA Approval Payment has not been made.
AutoNDA by SimpleDocs
Commercial Readiness. During the Transition Request Window, each Interconnection Customer with Transition Requests must submit one of the following Commercial Readiness Milestone Options totaling the requested Interconnection Service amount, where applicable, to Transmission Provider no later than the close of the Transition Request Window. (a) Executed term sheet (or comparable evidence) related to a contract for sale, where the term of the sale is not less than five (5) years, for (i) the constructed Generating Facility, (ii) the Generating Facility’s energy or capacity, or (iii) the Generating Facility’s Ancillary Services; (b) Documentation from a Load-Serving Entity, commercial, industrial, large end-use customer, competitive retail supplier, power marketer, or other wholesale buyer of active negotiations (or the equivalent, e.g. for an ongoing relationship) for purchase of the output of Interconnection Customer’s Large Generating Facility. Interconnection Customer shall provide documentation that they continue to meet Commercial Readiness by providing evidence of another Commercial Readiness Milestone (e.g., executed term sheet under Section 2.1.2 (a) of this Attachment R) to Transmission Provider by: (1) for Late-Stage Projects, one hundred twenty (120) days after Interconnection Customer has been issued an Interconnection Facilities Study Report or (2) for Transition Projects in the Transition Cluster Study, during the Phase Two Customer Review Period; (c) Executed contract binding upon the parties for sale to a Load-Serving Entity, competitive retail supplier, power marketer, other wholesale buyer, or a commercial, industrial, or large end-use customer for: (i) the constructed Generating Facility, (ii) the Generating Facility’s energy or capacity where the term of sale is not less than five (5) years, or (iii) the Generating Facility’s Ancillary Services if the Generating Facility is an electric storage resource where the term of sale is not less than five (5) years; (d) Reasonable evidence that the Generating Facility has been selected by or for a Load-Serving Entity in a Resource Plan or is on the final shortlist for a Resource Solicitation Process by or for a Load-Serving Entity, if such a plan or final short list has been approved or acknowledged by the applicable authority (including for an Investor- Owned Utility its state utility commission, as applicable); (e) Site specific purchase order for Generating and/or Interconnection Facilities equipment specific to th...
Commercial Readiness. An Interconnection Customer with a Transition Request in the Transition Cluster wishing to proceed to a Phase Two Cluster Study must submit one of the following Commercial Readiness Milestone Options totaling the requested Interconnection Service amount, where applicable, to Transmission Provider no later than the completion of the Customer Review Period following the Phase One Cluster Study. (a) Executed term sheet (or comparable evidence) related to a contract for sale, where the term of the sale is not less than five (5) years, for (i) the constructed Generating Facility, (ii) the Generating Facility’s energy or capacity, or (iii) the Generating Facility’s Ancillary Services; (b) Documentation from a Load-Serving Entity, commercial, industrial, large end-use customer, competitive retail supplier, power marketer, or other wholesale buyer of active negotiations (or the equivalent,
Commercial Readiness 

Related to Commercial Readiness

  • Synchronization, Commissioning and Commercial Operation 4.1.1 The Power Producer shall give at least fifteen (15) days written notice to the SLDC / ALDC / DISCOM as the case may be, of the date on which it intends to synchronize the Power Project to the Grid System. 4.1.2 Subject to Article 4.1.1, the Power Project may be synchronized by the Power Producer to the Grid System when it meets all the connection conditions prescribed in the Grid Code and otherwise meets all other Indian legal requirements for synchronization to the Grid System. 4.1.3 The synchronization equipment and all necessary arrangements / equipment including Remote Terminal Unit (RTU) for scheduling of power generated from the Project and transmission of data to the concerned authority as per applicable regulation shall be installed by the Power Producer at its generation facility of the Power Project at its own cost. The Power Producer shall synchronize its system with the Grid System only after the approval of GETCO / SLDC / ALDC and GEDA. 4.1.4 The Power Producer shall immediately after each synchronization / tripping of generator, inform the sub-station of the Grid System to which the Power Project is electrically connected in accordance with applicable Grid Code. 4.1.5 The Power Producer shall commission the Project within SCOD. 4.1.6 The Power Producer shall be required to obtain Developer and/ or Transfer Permission, Key Plan drawing etc, if required, from GEDA. In cases of conversion of land from Agricultural to Non-Agriculture, the commissioning shall be taken up by GEDA only upon submission of N.A. permission by the Power Producer. 4.1.7 The Power Producer shall be required to follow the Forecasting and Scheduling procedures as per the Regulations issued by Hon’ble GERC from time to time. It is to clarify that in terms of GERC (Forecasting, Scheduling, Deviation Settlement and Related Matters of Solar and Wind Generation Sources) Regulations, 2019 the procedures for Forecasting, Scheduling & Deviation Settlment are applicable to all solar generators having combined installed capacity above 1 MW connected to the State Grid / Substation including those connected via pooling stations.

  • Normal Commercial Relations Anything contained in this Indenture to the contrary notwithstanding, the Loan Trustee, any Noteholder or any other party to any of the Operative Documents or the Pass Through Documents or any of their affiliates may conduct any banking or other financial transactions, and have banking or other commercial relationships, with the Company, fully to the same extent as if this Indenture were not in effect, including without limitation the making of loans or other extensions of credit to the Company for any purpose whatsoever, whether related to any of the transactions contemplated hereby or otherwise.

  • Construction Phase Services 3.1.1 – Basic Construction Services

  • COMMERCIAL REUSE OF SERVICES The member or user herein agrees not to replicate, duplicate, copy, trade, sell, resell nor exploit for any commercial reason any part, use of, or access to 's sites.

  • Commissioning Commissioning tests of the Interconnection Customer’s installed equipment shall be performed pursuant to applicable codes and standards. The ISO and Connecting Transmission Owner must be given at least five Business Days written notice, or as otherwise mutually agreed to by the Parties, of the tests and may be present to witness the commissioning tests.

  • Scope of Interconnection Service 1.3.1 The NYISO will provide Energy Resource Interconnection Service and Capacity Resource Interconnection Service to Interconnection Customer at the Point of Interconnection. 1.3.2 This Agreement does not constitute an agreement to purchase or deliver the Interconnection Customer’s power. The purchase or delivery of power and other services that the Interconnection Customer may require will be covered under separate agreements, if any, or applicable provisions of NYISO’s or Connecting Transmission Owner’s tariffs. The Interconnection Customer will be responsible for separately making all necessary arrangements (including scheduling) for delivery of electricity in accordance with the applicable provisions of the ISO OATT and Connecting Transmission Owner’s tariff. The execution of this Agreement does not constitute a request for, nor agreement to, provide Energy, any Ancillary Services or Installed Capacity under the NYISO Services Tariff or any Connecting Transmission Owner’s tariff. If Interconnection Customer wishes to supply or purchase Energy, Installed Capacity or Ancillary Services, then Interconnection Customer will make application to do so in accordance with the NYISO Services Tariff or Connecting Transmission Owner’s tariff.

  • Quality Management System Supplier hereby undertakes, warrants and confirms, and will ensue same for its subcontractors, to remain certified in accordance with ISO 9001 standard or equivalent. At any time during the term of this Agreement, the Supplier shall, if so instructed by ISR, provide evidence of such certifications. In any event, Supplier must notify ISR, in writing, in the event said certification is suspended and/or canceled and/or not continued.

  • Production Phase contract period in which the Development and the Production are to be performed.

  • 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.

  • Pre-Commencement Phase Services The services required to be provided by the Contractor for the Pre- Commencement Phase of the Project in accordance with the Contract Documents.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!