Decommissioning Security Clause Samples

The Decommissioning Security clause requires a party, typically the operator of a facility or project, to provide financial assurance or security to cover the costs of decommissioning and site restoration at the end of the project's life. This security can take the form of bonds, letters of credit, or escrow accounts, and is usually calculated based on estimated decommissioning expenses. By mandating this financial safeguard, the clause ensures that sufficient funds will be available to safely dismantle infrastructure and remediate the site, thereby protecting stakeholders and the environment from the risk of abandonment or insufficient cleanup.
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Decommissioning Security. Concurrently with the execution of this Lease, PEF has furnished Ranchcorp with security for its obligations under Section 8.13 in the form required under Section 4.2(e) of the Option Agreement.
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Decommissioning Security. (a) Prior to Decommissioning, Security pursuant to the Decommissioning Security Agreement shall be provided by the Contractor in an amount equal to the sum of provisions made to the Decommissioning Costs Reserve, and taken as Recoverable Costs, in all previous years together with interest on such Recoverable Costs calculated to the end of the previous Calendar Year at the actual rate of Uplift. (b) After Decommissioning commences, the Designated Authority shall at the end of each Calendar Year review the amount of Security required for the outstanding Decommissioning and shall take into consideration any Decommissioning costs that have already been incurred. (c) Failure of the Contractor to provide Security and otherwise to fulfill its obligations under the Decommissioning Security Agreement, shall be a breach of this Agreement.
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Decommissioning Security. (a) Security pursuant to the Decommissioning Security Agreement shall be provided in an amount equal to the sum of provisions for Decommissioning Costs made, and taken as Recoverable Costs, in all previous years together with interest on such Recoverable Costs calculated to the end of the previous Calendar Year at the actual rate of Uplift. (b) Failure of each Contractor to provide Security and otherwise to fulfil its obligations under the Decommissioning Security Agreement, shall be a breach of this Agreement.
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Decommissioning Security. 10.1 Each Party shall provide Security for its share of Decommissioning Costs (as set out in Clause 9) in accordance with the provisions of this Agreement by not later than the Relevant Date and by not later than [fourteen] days prior to each anniversary thereof. 10.2 The Security shall be reviewed and amended if appropriate on each anniversary of the Relevant Date.
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Decommissioning Security. 10.1 Petrofina shall provide Security for its share of Decommissioning Costs (as set out in Clause 9) in accordance with the provisions of this Agreement by not later than the Relevant Date and by not later than [fourteen] days prior to each anniversary thereof. 10.2 The Security shall be reviewed and amended if appropriate on each anniversary of the Relevant Date.
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Decommissioning Security. Lessee shall maintain such bond, letter of credit or other security ("Decommissioning Security") securing payment of decommissioning costs for Solar Energy Facilities located on the Property as and to the extent required by applicable governmental authorities in connection with (and as part of) land use and permitting approvals for the Project. If the applicable governmental authority does not require Decommissioning Security, then on the date that is twenty-one (21) years after the Operations Date (the “Bonding Date”), Lessee shall obtain, and maintain in effect for Landowner's benefit throughout the remainder of the Extended Term, Decommissioning Security in an amount equal to the estimated costs of removing the Solar Energy Facilities and restore the Property in accordance with Section 12.3 above. The amount of such costs initially shall be as estimated by a reputable, independent contractor selected by ▇▇▇▇▇▇. From and after the Bonding Date, the amount of Decommissioning Security may be reviewed at Landowner's request every five (5) years. In the event such review indicates that the net decommissioning costs have increased since the Bonding Date, then the amount of the Decommissioning Security will be increased consistent with such revised estimate. The revised estimate will be obtained from a reputable, independent contractor selected by ▇▇▇▇▇▇. The Decommissioning Security shall further be available to Landowner with respect to any failure by Lessee to remediate hazardous materials released on the Property by Lessee, its agents or contractors.
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Decommissioning Security 
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Related to Decommissioning Security

  • Decommissioning 28.1 ▇▇▇ has the right to decommission Services without prejudice to the Provider on the grounds of quality, reconfiguration or workforce requirement alterations by submitting to the Provider a notice of variation which shall take unilateral effect on the date specified in the variation. This notice will take into account the Healthcare System, Learners and Service needs, with appropriate action to be taken by HEE.

  • Participating TO’s Interconnection Facilities The Participating TO shall design, procure, construct, install, own and/or control the Participating TO’s Interconnection Facilities described in Appendix A at the sole expense of the Interconnection Customer. Unless the Participating TO elects to fund the capital for the Participating TO’s Interconnection Facilities, they shall be solely funded by the Interconnection Customer.

  • Cost Responsibility for Interconnection Facilities and Distribution Upgrades 4.1 Interconnection Facilities 4.2 Distribution Upgrades

  • Interconnection Customer’s Interconnection Facilities The Interconnection Customer shall design, procure, construct, install, own and/or control the Interconnection Customer’s Interconnection Facilities described in Appendix A at its sole expense.

  • Commissioning Commissioning tests of the Interconnection Customer’s installed equipment shall be performed pursuant to applicable codes and standards. The ISO and Connecting Transmission Owner must be given at least five Business Days written notice, or as otherwise mutually agreed to by the Parties, of the tests and may be present to witness the commissioning tests.