Common use of Construction and Completion of Purchaser Interconnection Facilities Clause in Contracts

Construction and Completion of Purchaser Interconnection Facilities. (a) On or after the Effective Date, the Seller shall give to the Purchaser not less than [●] months prior written notice of the Scheduled Commercial Operations Date then anticipated by the Seller. Following the receipt of such notice, the Purchaser shall commence the final design of the Purchaser Interconnection Facilities. Thereafter, the Purchaser shall give the Seller reports on the progress of the Purchaser Interconnection Works as appropriate until the same are completed. The Purchaser shall complete the Purchaser Interconnection Works so as to be able to accept Net Delivered Energy at the Interconnection Point to carry out the Commissioning Tests no later than one hundred eighty (180) days prior to the Scheduled Commercial Operations Date provided to the Purchaser pursuant to the first sentence of this Section 6.5(a); provided, however, that such completion date shall be extended on a Day-for-Day basis for any changes in the Scheduled Commercial Operations Date and to the extent necessary because of the occurrence of any of the following: (i) the failure by the Seller to execute, in sufficient time for the Purchaser to complete the Purchaser Interconnection Facilities, such easements, rights-of-way, licenses and other documents, each in recordable form, as the Purchaser may reasonably require to record the deeds, easements, rights-of-way and licenses granted pursuant to Section 6.4; (ii) the failure by the Seller to provide the Purchaser, on a timely basis, with any technical data not included in Schedule 3 available to the Seller and requested by the Purchaser relating to the Complex reasonably necessary for the Purchaser to undertake the design, construction, installation, commissioning, maintenance and operation of the Purchaser Interconnection Facilities; (iii) a Force Majeure Event that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; (iv) any other failure by the Seller to perform in accordance with this Agreement that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; provided, however, that no extension shall be granted to the Purchaser to the extent that such failure or delay would have nevertheless been experienced by the Purchaser. (b) If the Purchaser has not completed, commissioned and energized the Purchaser Interconnection Facilities by the date required in Section 6.5(a), as such date may be extended in accordance with this Section 6.5(a)(i), (ii), (iii) or (iv), and such delay causes a delay in the Commissioning of the Complex, the Required Commercial Operations Date shall be extended Day-for-Day until the date on which the Purchaser Interconnection Works are completed. In addition, if the Purchaser has not completed the Purchaser Interconnection Works by the date which is fifteen (15) Days following the date by which the Purchaser Interconnection facilities were required to be completed in accordance with Section 6.5(a) as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv), and such delay causes a delay in Commissioning of the Complex, as certified by the Engineer, then the Purchaser shall pay to the Seller Monthly, in arrears, an amount equal to Carrying Costs, plus fifty percent (50 %) of the O&M Component and fifty percent (50 %) of the Insurance Componentmultiplied by the Average Daily Energy for the number of Days of such delay. Such payments shall commence on the Scheduled Commercial Operations Date prevailing immediately prior to such delay and shall continue until the earlier of: (i) the end of a period equal to the period of delay in completing the Purchaser Interconnection Facilities, and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); provided, however, that the payment of such amounts by the Purchaser and extension of the Required Commercial Operations Date shall be subject to issuance by the Engineer of the Certificate of Readiness for Energization of the Seller Interconnection Facilities and a simultaneous certificate that the delay caused by the Purchaser has caused the then scheduled Commissioning Tests to be delayed. In addition to payment of Carrying Costs, plus fifty percent (50 %) of the O&M Component and fifty percent (50 %) of the Insurance Component multiplied by the Average Daily Energy for the number of Days of such delay, if the delay by the Purchaser in completing the Purchaser Interconnection Facilities continues beyond the one hundred and fiftieth(150th) Day following the date in Section 6.5(a) (as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv)) and the Engineer has certified that the delay caused by the Purchaser would likely cause the then scheduled Commissioning Tests to be delayed as confirmed by Engineer pursuant to the two certificates mentioned in this Section, then the Purchaser shall also be required to pay the principal debt payments when due pursuant to the repayment schedule (as certified to the Purchaser by the Lenders or Agent). Such principal debt payment by the Purchaser shall commence on the later of thirty (30) Days following receipt of an invoice therefor or the due date for such payment under the repayment schedule (as certified to the Purchaser by the Lenders or Agent), but in no event earlier than the sixtieth (60th) day following the Scheduled Commercial Operations Date prevailing immediately prior to such delay, which invoice shall be signed by the Lenders or the Agent certifying the amount shown therein to be correct and stating the due date for such payment of principal debt under the repayment schedule (as certified to the Purchaser by the Lenders or Agent). Such payments shall continue until the earlier of: (i) the end of a period equal to the period of delay or deferal of any Commissioning Tests, and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); Provided that any payment(s) that are made by the Purchaser pursuant to this Section 6.5(b) on account of principal debt paymentsshall be recovered,together with interest at KIBOR plus 4.5% per annum (on the monthly outstanding balance of such amounts) commencing on the date of such payments by the Purchaser and ending on the date of complete repayment thereof by the Seller,through successive deductions of the Return on Equity Component from the monthly Energy Payments until the aforesaid amounts have been completely recovered. (c) The Purchaser shall have no obligation to make the payments provided in this Section 6.5 if and to the extent that the delay in the Commissioning Tests would nevertheless have occurred regardless of the Purchaser’s delay or deferral of such tests. If payments by the Purchaser under this Section 6.5 shall have commenced or the obligation for such payments shall have accrued, the Complex shall be tested at the first available opportunity thereafter. Except as provided in this Section 6.5, Section 8.1, Section 15.6 and Section 16.2(h), the Seller shall be entitled to no other compensation or claim for damages under this Agreement as a result of delay in the completion of the Purchaser Interconnection Facilities or deferral of the Commissioning Tests by the Purchaser.

Appears in 1 contract

Samples: Energy Purchase Agreement

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Construction and Completion of Purchaser Interconnection Facilities. (a) On or within ten (10) Days after the Effective Date, the Seller shall give to the Purchaser not less than [●] months prior written notice of the Scheduled Commercial Operations Date then anticipated by the Seller. Following the receipt of such notice, the Purchaser shall commence or cause to be commenced the final design of the Purchaser Interconnection Facilities. Thereafter, the Purchaser shall give or cause to be given the Seller reports on the progress of the Purchaser Interconnection Works as appropriate until the same are completed. The Purchaser shall complete or cause to be completed the Purchaser Interconnection Works so as to and be able to accept Net Delivered Energy at absorb into the Interconnection Point Grid System electrical power generated by the Complex as is necessary to enable the Seller to carry out the pre-commissioning of the Complex and the Commissioning Tests no later than one one-hundred eighty twenty (180120) days Days prior to the Scheduled Commercial Operations Date provided to the Purchaser pursuant to the first sentence of this Section 6.5(a); provided, however, that such completion date shall be extended on a Day-for-Day basis for any changes in the Scheduled Commercial Operations Date and to the extent necessary because of the occurrence of any of the following: (i) the failure by the Seller to execute, in sufficient time for the Purchaser to complete or cause to be completed the Purchaser Interconnection Facilities, such easements, rights-of-way, licenses and other documents, each in recordable form, as the Purchaser or its nominee may reasonably require to record the deeds, easements, rights-of-way and licenses granted pursuant to Section 6.4; (ii) the failure by the Seller to provide the PurchaserPurchaser or its nominee, on a timely basis, with any technical data not included in Schedule 3 available to the Seller and requested by the Purchaser or its nominee relating to the Complex and reasonably necessary for the Purchaser or its nominee to undertake the design, construction, completion, installation, commissioning, maintenance and operation of the Purchaser Interconnection Facilities; (iii) a Force Majeure Event that materially and adversely affects the Purchaser’s or its nominee’s ability to perform its obligations in accordance with this Article VI; (iv) any other failure by the Seller to perform in accordance with this Agreement that materially and adversely affects the Purchaser’s or its nominee’s ability to perform its obligations in accordance with this Article VI; provided, however, that no extension shall be granted to the Purchaser or its nominee to the extent that such failure or delay would have nevertheless been experienced by the PurchaserPurchaser or its nominee. (b) If the Purchaser has not completed, commissioned and energized or caused to be completed, commissioned and energized the Purchaser Interconnection Facilities Works by the date required in this Section 6.5(a)6.5, as such date may be extended as provided in accordance with this Section 6.5(a)(i), (ii), (iii) or (iv)6.5, and such delay causes a delay in the Commissioning of the Complex, the Required Commercial Operations Date shall be extended Day-for-for- Day until the date on which the Purchaser Interconnection Works are completed. In addition, if the Purchaser has not completed or caused to be completed the Purchaser Interconnection Works by the date which is fifteen (15) Days following the date by which the Purchaser Interconnection facilities Works were required to be completed in accordance with Section 6.5(a) as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv), and such delay causes a delay in Commissioning of the Complex, as certified by the EngineerEngineer under Section 8.3, then the Purchaser shall pay to the Seller Monthly, in arrears, (and prorated for any portion of a Month) an amount equal to (i) the Carrying CostsCosts plus, plus fifty percent (50 %) of the O&M Component and fifty percent (50 50%) of the Insurance Componentmultiplied Component, and fifty percent (50%) of the Fixed O&M Component multiplied by the Average Daily Energy for each Day during the number of Days period of such delay. Such payments shall commence on the Scheduled Commercial Operations Date prevailing immediately prior to such delay and shall continue until the earlier of: of (i) the end of a period equal to the period of delay in completing the Purchaser Interconnection Facilities, and Facilities and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); provided, however, that the payment of such amounts by the Purchaser and extension of the Required Commercial Operations Date shall be subject to issuance by the Engineer of the Certificate of Readiness for Energization of the Seller Interconnection Facilities [Synchronization] and a simultaneous certificate certification by the Engineer that the delay caused by the Purchaser has caused the then scheduled Commissioning Tests to be delayed. In addition to the payment of Carrying Costs, plus fifty percent (50 %) of the O&M Component and fifty percent (50 %) of the Insurance Component multiplied by the Average Daily Energy for the number of Days of such delayaforesaid amounts, if the delay by the Purchaser in completing the Purchaser Interconnection Facilities continues beyond the one hundred and fiftieth(150thninetieth (90th) Day following the date in Section 6.5(a) (as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv)) and of the issuance by the Engineer has certified of the Certificate of Readiness for [Synchronization] and a simultaneous certification by the Engineer that the delay caused by the Purchaser would likely cause the then scheduled Commissioning Tests to be delayed as confirmed by Engineer pursuant to the two certificates mentioned in this Sectiondelayed, then the Purchaser shall also be required to pay the principal debt payments when due under the Financing Documents pursuant to the repayment schedule agreed between the Seller and the Senior Lenders at Financial Closing (as certified such repayment schedule to be consistent with Annex ● of the Tariff Determination), with a copy of such repayment schedule being furnished to the Purchaser accompanied by the Lenders or Agent)Lender Debt Certification. . Such principal debt payment by shall be due from the Purchaser shall commence on the later of within thirty (30) Days following receipt of an invoice therefor or the due date for such payment under the repayment schedule (as certified to the Purchaser by the Lenders or Agent), but in no event earlier than the sixtieth ninetieth (60th90th) day following the Scheduled Commercial Operations Date prevailing immediately prior to such delay), which invoice shall be signed by the Lenders or the Agent certifying the amount shown therein to be correct and stating the due date for such payment of principal debt under the aforesaid repayment schedule (as certified to the Purchaser by the Lenders or Agent)schedule. Such payments shall continue until the earlier of: of (i) the end of a period equal to the period of delay or deferal deferral of any Commissioning Tests, and Test or Commissioning Tests and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); Provided that any payment(s) that are . Any payments made by the Purchaser pursuant to this Section 6.5(b) on account of principal debt paymentsshall payments under the Financing Documents shall be recovered,recovered by the Purchaser, together with interest at KIBOR plus 4.53.5% per annum (on the monthly outstanding balance of such amounts) ), commencing on the date of such payments by the Purchaser Commercial Operations Date and ending on the date of complete repayment thereof by the Seller,, through successive deductions of the Return on Equity Component from the monthly Energy Payments until the aforesaid amounts have been completely recoveredrecovered by the Purchaser. (c) The Purchaser shall have no obligation to make the payments provided in this Section 6.5 if and to the extent that the delay in the Commissioning Tests would nevertheless have occurred regardless of the Purchaser’s delay or deferral of such tests. If payments by the Purchaser under this Section 6.5 shall have commenced or the obligation for such payments shall have accrued, the Complex shall be tested at the first available opportunity thereafter. Except as provided in this Section 6.5, Section 8.1, Section 15.6 8.1 and Section 16.2(h)16.2, the Seller shall be entitled to no other compensation or claim for damages under this Agreement as a result of delay in the completion of the Purchaser Interconnection Facilities or deferral of the Commissioning Tests by the Purchaser.

Appears in 1 contract

Samples: Energy Purchase Agreement

Construction and Completion of Purchaser Interconnection Facilities. (a) On or within ten (10) Days after the Effective Date, the Seller shall give to the Purchaser not less than [●] months prior written notice of the Scheduled Commercial Operations Date then anticipated by the Seller. Following the receipt of such notice, the Purchaser shall commence or cause to be commenced the final design of the Purchaser Interconnection Facilities. Thereafter, the Purchaser shall give or cause to be given the Seller reports on the progress of the Purchaser Interconnection Works as appropriate until the same are completed. The Purchaser shall complete or cause to be completed the Purchaser Interconnection Works so as to and be able to accept Net Delivered Energy at absorb into the Interconnection Point Grid System electrical power generated by the Complex as is necessary to enable the Seller to carry out the pre-commissioning of the Complex and the Commissioning Tests no later than one one-hundred eighty twenty (180120) days Days prior to the Scheduled Commercial Operations Date provided to the Purchaser pursuant to the first sentence of this Section 6.5(a); provided, however, that such completion date shall be extended on a Day-for-Day basis for any changes in the Scheduled Commercial Operations Date and to the extent necessary because of the occurrence of any of the following: (i) : the failure by the Seller to execute, in sufficient time for the Purchaser to complete or cause to be completed the Purchaser Interconnection Facilities, such easements, rights-of-way, licenses and other documents, each in recordable form, as the Purchaser or its nominee may reasonably require to record the deeds, easements, rights-of-way and licenses granted pursuant to Section 6.4; (ii) ; the failure by the Seller to provide the PurchaserPurchaser or its nominee, on a timely basis, with any technical data not included in Schedule 3 available to the Seller and requested by the Purchaser or its nominee relating to the Complex and reasonably necessary for the Purchaser or its nominee to undertake the design, construction, completion, installation, commissioning, maintenance and operation of the Purchaser Interconnection Facilities; (iii) a Force Majeure Event that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; (iv) any other failure by the Seller to perform in accordance with this Agreement that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; provided, however, that no extension shall be granted to the Purchaser to the extent that such failure or delay would have nevertheless been experienced by the Purchaser. (b) If the Purchaser has not completed, commissioned and energized the Purchaser Interconnection Facilities by the date required in Section 6.5(a), as such date may be extended in accordance with this Section 6.5(a)(i), (ii), (iii) or (iv), and such delay causes a delay in the Commissioning of the Complex, the Required Commercial Operations Date shall be extended Day-for-Day until the date on which the Purchaser Interconnection Works are completed. In addition, if the Purchaser has not completed the Purchaser Interconnection Works by the date which is fifteen (15) Days following the date by which the Purchaser Interconnection facilities were required to be completed in accordance with Section 6.5(a) as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv), and such delay causes a delay in Commissioning of the Complex, as certified by the Engineer, then the Purchaser shall pay to the Seller Monthly, in arrears, an amount equal to Carrying Costs, plus fifty percent (50 %) of the O&M Component and fifty percent (50 %) of the Insurance Componentmultiplied by the Average Daily Energy for the number of Days of such delay. Such payments shall commence on the Scheduled Commercial Operations Date prevailing immediately prior to such delay and shall continue until the earlier of: (i) the end of a period equal to the period of delay in completing the Purchaser Interconnection Facilities, and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); provided, however, that the payment of such amounts by the Purchaser and extension of the Required Commercial Operations Date shall be subject to issuance by the Engineer of the Certificate of Readiness for Energization of the Seller Interconnection Facilities and a simultaneous certificate that the delay caused by the Purchaser has caused the then scheduled Commissioning Tests to be delayed. In addition to payment of Carrying Costs, plus fifty percent (50 %) of the O&M Component and fifty percent (50 %) of the Insurance Component multiplied by the Average Daily Energy for the number of Days of such delay, if the delay by the Purchaser in completing the Purchaser Interconnection Facilities continues beyond the one hundred and fiftieth(150th) Day following the date in Section 6.5(a) (as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv)) and the Engineer has certified that the delay caused by the Purchaser would likely cause the then scheduled Commissioning Tests to be delayed as confirmed by Engineer pursuant to the two certificates mentioned in this Section, then the Purchaser shall also be required to pay the principal debt payments when due pursuant to the repayment schedule (as certified to the Purchaser by the Lenders or Agent). Such principal debt payment by the Purchaser shall commence on the later of thirty (30) Days following receipt of an invoice therefor or the due date for such payment under the repayment schedule (as certified to the Purchaser by the Lenders or Agent), but in no event earlier than the sixtieth (60th) day following the Scheduled Commercial Operations Date prevailing immediately prior to such delay, which invoice shall be signed by the Lenders or the Agent certifying the amount shown therein to be correct and stating the due date for such payment of principal debt under the repayment schedule (as certified to the Purchaser by the Lenders or Agent). Such payments shall continue until the earlier of: (i) the end of a period equal to the period of delay or deferal of any Commissioning Tests, and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); Provided that any payment(s) that are made by the Purchaser pursuant to this Section 6.5(b) on account of principal debt paymentsshall be recovered,together with interest at KIBOR plus 4.5% per annum (on the monthly outstanding balance of such amounts) commencing on the date of such payments by the Purchaser and ending on the date of complete repayment thereof by the Seller,through successive deductions of the Return on Equity Component from the monthly Energy Payments until the aforesaid amounts have been completely recovered. (c) The Purchaser shall have no obligation to make the payments provided in this Section 6.5 if and to the extent that the delay in the Commissioning Tests would nevertheless have occurred regardless of the Purchaser’s delay or deferral of such tests. If payments by the Purchaser under this Section 6.5 shall have commenced or the obligation for such payments shall have accrued, the Complex shall be tested at the first available opportunity thereafter. Except as provided in this Section 6.5, Section 8.1, Section 15.6 and Section 16.2(h), the Seller shall be entitled to no other compensation or claim for damages under this Agreement as a result of delay in the completion of the Purchaser Interconnection Facilities or deferral of the Commissioning Tests by the Purchaser.

Appears in 1 contract

Samples: Energy Purchase Agreement

Construction and Completion of Purchaser Interconnection Facilities. (a) On or after the Effective Date, the Seller shall give to the Purchaser not less than [●] six months prior written notice of the Scheduled Commercial Operations Date then anticipated by the SellerSeller (which date shall not in any event be earlier than the earliest date on which the Commercial Operations Date may occur hereunder). Following the receipt of such notice, the Purchaser shall commence the final design of the Purchaser Interconnection Facilities. Thereafter, the Purchaser shall give provide to the Seller reports on the progress of the Purchaser Interconnection Works as appropriate until the same are completedtheir completion. The Purchaser shall complete the Purchaser Interconnection Works so as to be able to accept Net Delivered Energy at the Interconnection Point Point, to carry out the Commissioning Tests no later than one hundred eighty sixty (18060) days Days prior to the Scheduled Commercial Operations Date provided notified by the Seller to the Purchaser pursuant to the first sentence of this Section 6.5(a); provided, however, that such completion date shall be extended on a Day-for-Day basis for any changes in the Scheduled Commercial Operations Date Date, and to the extent necessary because of the occurrence of any of the following: (i) the Seller’s failure by the Seller to execute, in sufficient time for the Purchaser to complete the Purchaser Interconnection Facilities, such easements, rights-of-way, licenses and other documents, each in recordable form, as the Purchaser may reasonably require to record the deeds, easements, rights-of-way and licenses granted pursuant to Section 6.4; (ii) the Seller’s failure by the Seller to provide the Purchaser, on a timely basis, with any technical data relating to the Complex and available to the Seller but not included in Schedule 3 available to the Seller and 3, requested by the Purchaser relating to the Complex and reasonably necessary for the Purchaser to undertake the design, construction, installation, commissioning, maintenance and operation of the Purchaser Interconnection Facilities; (iii) a Force Majeure Event that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; (iv) any other failure by the Seller to perform in accordance with this Agreement that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; provided, however, that no extension shall be granted to the Purchaser to the extent that such failure or delay would nevertheless have nevertheless been experienced by the Purchaser. (b) If the Purchaser has not completed, commissioned and energized the Purchaser Interconnection Facilities by the date required in Section 6.5(a), as such date may be extended in accordance with this Section 6.5(a)(i), (ii), (iii) or (iv), and such delay causes a delay in the Commissioning of the Complex, the Required Commercial Operations Date shall be extended Day-for-Day until the date on which the Purchaser Interconnection Works are completed. In addition, if the Purchaser has not completed the Purchaser Interconnection Works by the date which is fifteen (15) Days following the date by which the Purchaser Interconnection facilities were required to be completed in accordance with Section 6.5(a) as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv), and such delay causes a delay in Commissioning of the Complex, as certified by the Engineer, then the Purchaser shall pay to the Seller Monthly, in arrears, an amount equal to the Carrying Costs, Costs plus fifty percent (50 50%) of the O&M Component and fifty percent (50 50%) of the Insurance Componentmultiplied Component multiplied by the Average Daily Energy for each Day during the number of Days period of such delay. Such payments shall commence on the Scheduled Commercial Operations Date prevailing immediately prior to such delay and shall continue until the earlier of: (i) the end of a period equal to the period of delay in completing the Purchaser Interconnection Facilities, and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed such tests be successful or not); provided, however, that the payment of such amounts by the Purchaser and extension of the Required Commercial Operations Date shall be subject to issuance by the Engineer of the Certificate of Readiness for Energization of the Seller Interconnection Facilities and a simultaneous certificate that the delay caused by the Purchaser has caused the then scheduled Commissioning Tests to be delayed. In addition to payment of the Carrying Costs, Costs plus fifty percent (50 50%) of the O&M Component and fifty percent (50 50%) of the Insurance Component multiplied by the Average Daily Energy for the number of Days period of such delay, if the delay by the Purchaser in completing the Purchaser Interconnection Facilities continues beyond the one hundred and fiftieth(150thfiftieth (150th) Day following the date stipulated in Section 6.5(a) ), (as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv)) and the Engineer has certified that the delay caused by the Purchaser would likely cause the then then-scheduled Commissioning Tests to be delayed as confirmed by the Engineer pursuant to the two certificates mentioned specified in this Section, then the Purchaser shall also be required to pay the principal sum of the debt payments when due pursuant to the repayment schedule (as certified to the Purchaser by the Lenders Lender or Agent, such repayment schedule to be consistent with Xxxxx XX of the Tariff Determination, as may be revised on account of Interest Margin Savings). Such payment of the principal sum of the debt payment by the Purchaser shall commence on the later of thirty (30) Days following receipt of an invoice therefor or the due date for such payment under the repayment schedule (as certified to the Purchaser by the Lenders or Agent), but in no event earlier than the sixtieth (60th) day following the Scheduled Commercial Operations Date prevailing immediately prior to such delay, delay which invoice shall be signed by the Lenders or the Agent Agent, certifying the amount shown therein to be correct and stating the due date for such payment of principal debt under the repayment schedule (as certified to the Purchaser by the Lenders or Agent). Such payments shall continue until the earlier of: of (iA) the end of a the period equal to the period of delay or deferal of any Commissioning Testsin completing the Purchaser Interconnection Facilities, and and (iiB) the completion of the first attempted Commissioning Tests (whether successfully completed or not); Provided , provided, that any payment(s) that are payments made by the Purchaser pursuant to this Section 6.5(b) on account of payments of principal sum of the debt paymentsshall shall be recovered,, together with interest at KIBOR plus 4.53% per annum (on the monthly outstanding balance of such amounts) commencing on the date of such payments by the Purchaser and ending on the date of complete repayment thereof by the Seller,Seller through successive deductions of the Return on Equity Component from the monthly Energy Payments until the aforesaid such amounts have been completely recovered. (c) The Purchaser shall have no obligation to make the payments provided in this Section 6.5 if if, and to the extent that that, the delay in the Commissioning Tests would nevertheless have occurred regardless of the Purchaser’s delay or deferral of such tests. If payments by the Purchaser under this Section 6.5 shall have commenced commenced, or the obligation for such payments shall have accrued, the Complex shall be tested at the first available opportunity thereafter. Except as provided in this Section 6.5, Section 8.1, Section 15.6 and Section 16.2(h), the Seller shall be entitled to no other compensation or claim for damages under this Agreement as a result of delay in the completion of the Purchaser Interconnection Facilities or deferral of the Commissioning Tests by the Purchaser, as the case may be.

Appears in 1 contract

Samples: Energy Purchase Agreement

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Construction and Completion of Purchaser Interconnection Facilities. (a) On or after the Effective Date, the Seller shall give to the Purchaser not less than [●[ ] months prior written notice of the Scheduled Commercial Operations Date then anticipated by the Seller. Following the receipt of such notice, the Purchaser shall commence the final design of the Purchaser Interconnection Facilities. Thereafter, the Purchaser shall give the Seller reports on the progress of the Purchaser Interconnection Works as appropriate until the same are completed. The Purchaser shall complete the Purchaser Interconnection Works so as to be able to accept Net Delivered Energy at the Interconnection Point to carry out the Commissioning Tests no later than one hundred eighty (180) days prior to the Scheduled Commercial Operations Date provided to the Purchaser pursuant to the first sentence of this Section 6.5(a); provided, however, that such completion date shall be extended on a Day-for-Day basis for any changes in the Scheduled Commercial Operations Date and to the extent necessary because of the occurrence of any of the following: (i) the failure by the Seller to execute, in sufficient time for the Purchaser to complete the Purchaser Interconnection Facilities, such easements, rights-of-way, licenses and other documents, each in recordable form, as the Purchaser may reasonably require to record the deeds, easements, rights-of-way and licenses granted pursuant to Section 6.4; (ii) the failure by the Seller to provide the Purchaser, on a timely basis, with any technical data not included in Schedule 3 available to the Seller and requested by the Purchaser relating to the Complex reasonably necessary for the Purchaser to undertake the design, construction, installation, commissioning, maintenance and operation of the Purchaser Interconnection Facilities; (iii) a Force Majeure Event that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; (iv) any other failure by the Seller to perform in accordance with this Agreement that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; provided, however, that no extension shall be granted to the Purchaser to the extent that such failure or delay would have nevertheless been experienced by the Purchaser. (b) If the Purchaser has not completed, commissioned and energized the Purchaser Interconnection Facilities by the date required in Section 6.5(a), as such date may be extended in accordance with this Section 6.5(a)(i), (ii), (iii) or (iv), and such delay causes a delay in the Commissioning of the Complex, the Required Commercial Operations Date shall be extended Day-for-Day until the date on which the Purchaser Interconnection Works are completed. In addition, if the Purchaser has not completed the Purchaser Interconnection Works by the date which is fifteen (15) Days following the date by which the Power Purchaser Interconnection facilities were required to be completed in accordance with Section 6.5(a) as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv), and such delay causes a delay in Commissioning of the Complex, as certified by the Engineer, then the Purchaser shall pay to the Seller Monthly, in arrears, an amount equal to Carrying Costs, plus fifty percent (50 %) of the O&M Component and fifty percent (50 50%) of the Insurance Componentmultiplied Component, plus fifty percent (50%) of the Fixed O&M Component (Local), plus fifty percent (50%) of the Fixed O&M Component (Foreign) of the Reference Tariff, multiplied by the Average Monthly Benchmark Energy (prorated on Daily Energy basis for such period). The Return on Equity Component during the number of Days extended construction period on account of such delaydelay shall be accrued and payable through the Term by updating of the Reference Tariff Table in Schedule 1 on at the time of the Commercial Operations Date. Such payments shall commence on the Scheduled Commercial Operations Date prevailing immediately prior to such delay and shall continue until the earlier of: (i) the end of a period equal to the period of delay in completing the Purchaser Interconnection Facilities, Facilities and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); provided, however, that the payment of such amounts by the Purchaser and extension of the Required Commercial Operations Date shall be subject to issuance by the Engineer of the Certificate of Readiness for Energization of the Seller Interconnection Facilities and a simultaneous certificate that the delay caused by the Purchaser has caused the then scheduled Commissioning Tests to be delayed. In addition to the payment of the Carrying Costs, Costs plus fifty percent (50 %) of the O&M Component and fifty percent (50 50%) of the Insurance Component plus fifty percent (50%) of the Fixed O&M Component (Local) and fifty percent (50%) of the Fixed O&M Component (Foreign), of the Reference Tariff, multiplied by the Average Monthly Benchmark Energy (prorated on Daily Energy basis for the number of Days of such delayperiod), if the delay by the Purchaser in completing the Purchaser Interconnection Facilities continues beyond the one hundred and fiftieth(150thsixtieth (60th) Day following the date in Section 6.5(a) (as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv)) and the Engineer has certified that the delay caused by the Purchaser would likely cause the then scheduled Commissioning Tests to be delayed as confirmed by Engineer pursuant to the two certificates mentioned in this Section, then the Purchaser shall also be required to pay the principal debt payments when due pursuant to under the repayment schedule (as certified to Financing Documents; provided that such principal debt payments made by the Purchaser under this Section 6.5 shall be excluded in the determination or calculation of the Tariff at the Commercial Operations Date to be paid by the Lenders or Agent)Purchaser hereunder. Such principal debt payment by the Purchaser shall commence on the later of thirty (30) Days following receipt of an invoice therefor or the due date for such payment under the repayment schedule Financing Documents (as certified to the Purchaser by the Lenders or Agent), but in no event earlier than the sixtieth (60th) day Day following the Scheduled Commercial Operations Date prevailing immediately prior to such delay), which invoice shall be signed by the Lenders or the Agent certifying the amount shown therein to be correct and stating the due date for such payment of principal debt under the repayment schedule (as certified to the Purchaser by the Lenders or Agent)Financing Documents. Such payments shall continue until the earlier of: (i) the end of a the period equal to the period of delay or deferal deferral of any Commissioning Tests, Test and (ii) the completion of the first attempted Commissioning Tests (whether successfully completed or not); Provided that any payment(s) that are made by the Purchaser pursuant to this Section 6.5(b) on account of principal debt paymentsshall be recovered,together with interest at KIBOR plus 4.5% per annum (on the monthly outstanding balance of such amounts) commencing on the date of such payments by the Purchaser and ending on the date of complete repayment thereof by the Seller,through successive deductions of the Return on Equity Component from the monthly Energy Payments until the aforesaid amounts have been completely recovered. (c) The Purchaser shall have no obligation to make the payments provided in this Section 6.5 if and to the extent that the delay in the Commissioning Tests would nevertheless have occurred regardless of the Purchaser’s delay or deferral of such tests. If payments by the Purchaser under this Section 6.5 shall have commenced or the obligation for such payments shall have accrued, the Complex shall be tested at the first available opportunity thereafter. Except as provided in this Section 6.5, Section 8.1, Section 15.6 and Section 16.2(h), the Seller shall be entitled to no other compensation or claim for damages under this Agreement as a result of delay in the completion of the Purchaser Interconnection Facilities or deferral of the Commissioning Tests by the Purchaser.

Appears in 1 contract

Samples: Energy Purchase Agreement

Construction and Completion of Purchaser Interconnection Facilities. (a) On or after Within seven (7) Days of the Effective Date, the Seller shall give to the Purchaser not less than [●] months prior written notice of the Scheduled Commercial Operations Date then anticipated by the SellerSeller (which date shall not in any event be earlier than the earliest date on which the Commercial Operations Date may occur hereunder). Following the receipt of such notice, the Purchaser shall commence the final design of the Purchaser Interconnection Facilities. Thereafter, the Purchaser shall give provide to the Seller reports on the progress of the Purchaser Interconnection Works as appropriate until the same are completedtheir completion. The Purchaser shall complete the Purchaser Interconnection Works so as to be able to accept Net Delivered Energy at the Interconnection Point to carry out the Commissioning Tests no later than one hundred eighty forty five (18045) days Days prior to the Scheduled Commercial Operations Date provided notified by the Seller to the Purchaser pursuant to the first sentence of this Section 6.5(a); provided, however, that such completion date shall be extended on a Day-for-Day basis for any changes in the Scheduled Commercial Operations Date Date, and to the extent necessary because of the occurrence of any of the following: (i) the Seller’s failure by the Seller to execute, in sufficient time for the Purchaser to complete the Purchaser Interconnection Facilities, such easements, rights-of-way, licenses and other documents, each in recordable form, as the Purchaser may reasonably require to record the deeds, easements, rights-of-way and licenses granted pursuant to Section 6.4; (ii) the Seller’s failure by the Seller to provide the Purchaser, on a timely basis, with any technical data relating to the Complex and available to the Seller but not included in Schedule 3 available to the Seller and 3, requested by the Purchaser relating to the Complex and reasonably necessary for the Purchaser to undertake the design, construction, installation, commissioning, maintenance and operation of the Purchaser Interconnection Facilities; (iii) a Force Majeure Event that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; or any circumstances events that are beyond Purchaser’s reasonable control and cause delay in construction or operations of Purchaser Interconnection Facilities; (iv) any other failure by the Seller to perform in accordance with this Agreement Agreement, including but not limited to the Seller’s obligations assumed under Schedule 3, that materially and adversely affects the Purchaser’s ability to perform its obligations in accordance with this Article VI; provided, however, that no extension shall be granted to the Purchaser to the extent that such failure or delay would nevertheless have nevertheless been experienced by the Purchaser. (b) . If the Purchaser has not completed, commissioned and energized the Purchaser Interconnection Facilities Facilities, by the date required in Section 6.5(a), as such date may be extended in accordance with this Section 6.5(a)(i), (ii), (iii) or (iv), and such delay causes a delay in the Commissioning of the Complex, the Required Commercial Operations Date shall be extended Day-for-Day until the date on which the Purchaser Interconnection Works are completed. , provided however, the Required Commercial Operations Date shall not be extended on account of any extension of the completion date of the Purchaser Interconnection Works under Section 6.5(a)(i), (ii) and (iv). (b) In addition, if the Purchaser has not completed the Purchaser Interconnection Works by the date which is fifteen ninety (1590) Days following the date by which the Purchaser Interconnection facilities Facilities were required to be completed in accordance with Section 6.5(a) as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv), and such delay causes a delay in Commissioning of the Complex, as certified by the Engineer, then the Purchaser shall pay to the Seller Monthlymonthly, in arrears, (and prorated for any portion of a Month) an amount equal to the Carrying Costs, Cost plus fifty (50%) of actual O&M and insurance costs for the period but not exceeding six percent (50 6%) of the O&M Component and fifty percent (50 %) of the Insurance Componentmultiplied Energy Price multiplied by the Average Daily Energy for each Day during the number of Days period of such delaydelay provided reasonable and verifiable documentary evidence is submitted by the Seller to the Purchaser in respect of Carrying Cost, actual O&M and insurance costs. Such payments shall commence on the Scheduled Commercial Operations Date prevailing immediately prior to such delay and shall continue until the earlier of: (i) the end of a period equal to the period of delay in completing the Purchaser Interconnection Facilities, andor (ii) the completion of the first attempted Commissioning Tests (whether successfully completed such tests be successful or not); providedProvided, however, that the payment of such amounts by the Purchaser and extension of the Required Commercial Operations Date shall be subject to issuance by the Engineer of of (A) the Certificate of Readiness for Energization of the Seller Interconnection Facilities Synchronization and (B) a simultaneous certificate certification by the Engineer that the delay caused by the Purchaser has caused would likely cause the then scheduled Commissioning Tests to be delayed. . (c) In addition to payment of Carrying Costs, plus fifty percent (50 %set out in Section 6.5(b) of the O&M Component and fifty percent (50 %) of the Insurance Component multiplied by the Average Daily Energy above for the number of Days period of such delay, if the delay by the Purchaser in completing the Purchaser Interconnection Facilities continues beyond the one hundred and fiftieth(150theighty(180) Day following the date in Section 6.5(a) (as such date may be extended pursuant to Section 6.5(a)(i), (ii), (iii) and (iv)) and of the issuance by the Engineer has certified of the Certificate of Readiness for Synchronization and a simultaneous certificate by the Engineer that the delay caused by the Purchaser would likely cause the then then-scheduled Commissioning Tests to be delayed as confirmed by Engineer pursuant to the two certificates mentioned in this Sectiondelayed, then the Purchaser shall also be required to pay the principal sum of the debt payments when due pursuant to the repayment schedule as set out under the relevant Financing Document (as certified to the Purchaser by the Lenders Lender or Agent). Such payment of the principal sum of the debt payment by the Purchaser shall commence on the later of be made within thirty (30( 30 ) Days following receipt of an invoice therefor or the due date for such payment under the repayment schedule (as certified to the Purchaser by the Lenders or Agent)therefor, but in no event earlier than the sixtieth two hundred ten (60th210) day Days following the Scheduled Commercial Operations Date prevailing immediately prior to such delay, delay which invoice shall be signed by the Lenders or the Agent Agent, certifying the amount shown therein to be correct and stating the due date for such payment of principal debt under the repayment schedule as set out under the relevant Financing Document (as certified to the Purchaser by the Lenders or Agent). Such payments shall continue until the earlier of: of (iA) the end of a the period equal to the period of delay or deferal deferral of any Commissioning TestsTest, and or (iiB) the completion of the first attempted Commissioning Tests (whether successfully completed or not); Provided , provided, that any payment(s) that are payments made by the Purchaser pursuant to this Section 6.5(b6.5(c) on account of payments of principal sum of the debt paymentsshall shall be in the form of a loan from the Purchaser to the Seller in order to facilitate the Seller to meet its debt servicing obligations and the same shall be recovered,, together with interest at KIBOR plus 4.5% per annum a spread of two and half percent (2.5%) (on the monthly outstanding balance of such amounts) commencing on the date of such payments by the Purchaser and ending on the date of complete repayment thereof by the Seller,, through successive deductions of twenty five percent (25%) of the Return on Equity Component Energy Price from the monthly Energy Payments until the aforesaid such amounts have been completely recovered. (c) . The Purchaser shall have no obligation to make the payments provided in this Section 6.5 if if, and to the extent that that, the delay in the Commissioning Tests would nevertheless have occurred regardless of the Purchaser’s delay or deferral of such tests. If payments by the Purchaser under this Section 6.5 shall have commenced commenced, or the obligation for such payments shall have accrued, the Complex shall be tested at the first available opportunity thereafter. Except as provided in this Section 6.5, Section 8.1, Section 15.6 and Section 16.2(h), the Seller shall be entitled to no other compensation or claim for damages under this Agreement as a result of delay in the completion of the Purchaser Interconnection Facilities or deferral of the Commissioning Tests by the Purchaser, as the case may be.

Appears in 1 contract

Samples: Energy Purchase Agreement

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