Developer Defaults. Utility may give a notice of default under this Agreement (a "Utility Notice of Default") upon the occurrence of any of the following events, unless caused by a breach by Utility of this Agreement (each a "Developer Event of Default"). 10.2.1 Abandonment of construction of the Project by the Developer after the commencement of Construction, without the written consent of Utility. 10.2.2 Failure of Developer to achieve the requirements for the Commercial Operations Date within 1 calendar year after the Required Commercial Operations Date. Unless, prior to the expiration of such 1-year period, Utility and Developer agree on the length, and terms and conditions of an extension of the Required Commercial Operations Date, at the expiration of the initial 1 year period Utility shall either declare a default or waive its right to declare a default pursuant to this Paragraph. Utility may waive its right to demand payment of the liquidated damages determined in accordance with the liquidated damages provisions of Schedule B (Calculation of Payments).
Appears in 4 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
