Common use of Construction Milestone Schedule Clause in Contracts

Construction Milestone Schedule. (a) Lessor shall use commercially reasonable efforts to achieve each of the Milestones by its respective Milestone Date as set forth in the Construction Milestone Schedule attached hereto as Schedule 3.2(a). (b) Lessor shall provide Lessee, with a copy to the PSCW and to the Independent Evaluator, with prompt written notice of the date upon which it has achieved each Milestone. (c) During the Construction Term, Lessor shall provide Lessee with monthly status reports, with a copy to the PSCW and to the Independent Evaluator (which shall include, among other things, the status of all material Government Approvals required by Lessor to perform its obligations under Section 3.1(a)) and shall inform Lessee of any expected delays (and their duration) in achieving any Milestone by the respective Milestone Date. Should Lessor fail to achieve any Milestone by the respective Milestone Date, Lessor shall, as soon as practicable (and in any event within ten (10) days after such Milestone Date), provide Lessee with a Remedial Action Plan, with a copy to the PSCW and to the Independent Evaluator. (d) If and to the extent Lessor fails as a result of Force Majeure or an Excused Event to achieve a Milestone by the respective Milestone Date, then such Milestone Date and all subsequent Milestone Dates, if any, shall be adjusted by a reasonable amount of time (not to exceed three hundred sixty five (365) days) attributable to the delay caused by such Force Majeure or Excused Event.