Common use of Completion of Seller’s Project Clause in Contracts

Completion of Seller’s Project. The installation of Seller’s Project at the Facility shall have been completed; provided that Seller shall have previously notified Purchaser in writing that Seller’s Project is substantially complete, and Purchaser, at its option and discretion, shall have verified within fourteen (14) days of Seller’s notice that Seller’s Project has achieved operation. For purposes of this Agreement, in the event the Commencement Date has not occurred within one year of the Effective Date, Purchaser shall have the right, exercisable upon written notice to Seller, to terminate this Agreement without further obligation or liability to Seller and shall be under no further obligation to advance this Agreement. Such one-year period may be extended only by Order of the Board following formal petition to the Board for such an extension.

Completion of Seller’s Project. The installation of Seller’s Project at the Facility shall have been completed; provided that Seller shall have previously notified Purchaser in writing that Seller’s Project is substantially complete, and Purchaser, at its option and discretion, shall have verified within fourteen (14) 14 days of Seller’s notice that Seller’s Project has achieved operation. For purposes of this Agreement, in the event the Commencement Date has not occurred within one year of the Effective Date, Purchaser shall have the right, exercisable upon written notice to Seller, to terminate this Agreement shall terminate without further obligation or liability to Seller the Parties and the Parties shall be under no further obligation to advance this Agreement. Such one-year period may be extended only by Order of the Board following formal petition to the Board by Seller for such an extension.