Common use of Commercialization Date Clause in Contracts

Commercialization Date. The “Commercialization Date” for the Solar Facility means the date on which Groundbreaking occurs. As used herein, “Groundbreaking” shall mean the earlier of (a) when earth is moved for the improvement of the Leased Property for the construction of the Solar Facility, (b) when the first Solar Facility support structure is installed below grade at the Leased Property, or (c) when Company elects to make the first annual Commercial Term rent payment in the amount set forth in Section 5.2(a). Movement of earth for evaluation of the Leased Property shall not be considered Groundbreaking and shall not cause the Commercialization Date to occur. Company shall notify Landowner promptly if and when the Commercialization Date occurs.

Commercialization Date. The “Commercialization Date” for the Solar Facility means the date on which Groundbreaking “Groundbreaking” occurs. As used herein, “Groundbreaking” shall mean the earlier of (a) when earth is moved for the improvement of the Leased Property for the construction of the Solar Facility, (b) when the first Solar Facility support structure is installed below grade at the Leased Property, or (c) when Company elects to make the first annual Commercial Term rent payment in the amount set forth in Section 5.2(a). Movement of earth for evaluation of the Leased Property shall not be considered Groundbreaking and shall not cause the Commercialization Date to occur. Company shall notify Landowner promptly if and when the Commercialization Date occurs.