Common use of Construction Milestones Clause in Contracts

Construction Milestones. (i) The Parties agree time is of the essence in regards to the Transaction. As such, the Parties also agree certain milestones for the construction of the Project as set forth in Appendix III hereto (“Milestones”) must be achieved in a timely fashion or Buyer will suffer damages. Seller shall provide Buyer with any requested documentation to support the achievement of Milestones within ten (10) Business Days of receipt of such request by Seller. (ii) If Seller misses three (3) or more Milestones, other than a Guaranteed Project Milestone, or misses any one (1) by more than ninety (90) days, except as the result of Force Majeure, Seller shall submit to Buyer, within ten (10) Business Days of such missed Milestone completion date, a remedial action plan (“Remedial Action Plan”), which shall provide a detailed description of Seller’s course of action and plan to achieve the missed Milestones and all subsequent Milestones by the Guaranteed Commercial Operation Date; provided, that delivery of any Remedial Action Plan shall not relieve Seller of its obligation to meet any subsequent Milestones and the Guaranteed Commercial Operation Date. If the missed Milestone(s) is a Guaranteed Project Milestone, then subsection (iv) below shall apply.

Construction Milestones. (i) The Parties agree time is of the essence in regards to the Transaction. As such, the Parties also agree certain milestones for the construction of the Project as set forth in Appendix III hereto (“Milestones”) must be achieved in a timely fashion or Buyer will suffer damages. Seller shall provide Buyer with any requested documentation to support the achievement of Milestones and dates below within ten (10) Business Days of receipt of such request by Seller. (ii) If Seller misses three (3) or more Milestones, other than a Guaranteed Project Milestone, Milestones or misses any one (1) by more than ninety (90) 90 days, except as the result of Force Majeure, Seller shall submit to Buyer, within ten (10) Business Days days of such missed Milestone completion date, a remedial action plan (“Remedial Action PlanRAP”), which shall provide a detailed description of Seller’s course of action and plan to achieve the missed Milestones and all subsequent Milestones by the Guaranteed Commercial Operation Date. Seller shall obtain approval from Buyer, which approval shall not be unreasonably withheld or delayed, with respect to remedial efforts detailed in the RAP; providedprovided however, that delivery such approval or withholding of any Remedial Action Plan approval shall not relieve Seller of its obligation to meet any subsequent Milestones and the Guaranteed Commercial Operation Date. If the missed Milestone(s) is a Guaranteed Project Milestone, then subsection (iv) below shall apply.