Failure to Meet Commercial Operation Deadline Sample Clauses

Failure to Meet Commercial Operation Deadline. Subject to Seller’s right to extend the Commercial Operation Deadline as provided in Section 1.04, Section 3.06(c), and Section 5.03 (for Force Majeure where Seller is the Claiming Party), in the event that (i) Seller and SCE mutually agree that Commercial Operation will not occur on or before the Commercial Operation Deadline; (ii) the Commercial Operation Date will not occur due to any termination of this Agreement as a result of an Event of Default by Seller occurring on or before the Commercial Operation Deadline; or (iii) Seller abandons the Generating Facility, SCE shall be entitled to:
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Failure to Meet Commercial Operation Deadline. Subject to Seller’s right to extend the Commercial Operation Deadline as provided in Section 1.04, Section 3.06(c), and Section 5.03 (for Force Majeure where Seller is the Claiming Party), in the event that (A) the Commercial Operation Date does not occur, or (B) SCE reasonably determines that the Commercial Operation Date will be unlikely to occur (including due to any termination of this Agreement as a result of an Event of Default by Seller occurring prior to the Commercial Operation Deadline) on or before the Commercial Operation Deadline, then, in either case (A) or (B), SCE shall, subject to the proviso following Section 3.06(d)(ii), be entitled to:
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Failure to Meet Commercial Operation Deadline. Subject to Seller’s right to extend the Commercial Operation Deadline as provided in Section 1.03, Section 3.06(c), and Section 5.03(for Force Majeure where Seller is the Claiming Party), in the event that the Commercial Operation Date does not occur on or before the Commercial Operation Deadline, then Anaheim shall, subject to the proviso following Section 3.06(d)(ii), be entitled to:
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Failure to Meet Commercial Operation Deadline. Subject to Seller’s right to extend the Commercial Operation Deadline as provided in Section 3.06(c), Section 1.04, and Section 5.03 (for Force Majeure where Seller is the Claiming Party), in the event that (A) the Commercial Operation Date does not occur, or Seller and SCE mutually agree will not occur, on or before the Commercial Operation Deadline (including due to any termination of this Agreement as a result of an Event of Default by Seller occurring prior to the Commercial Operation Deadline); (B) an interconnection request application is not submitted within one hundred twenty (120) days after the applicable date set forth in the Milestone Schedule; (C) groundbreaking for the Generating Facility does not occur within ninety (90) days after the applicable date set forth in the Milestone Schedule; (D) the procurement of [the applicable electrical generating equipment] for the Generating Facility does not occur within ninety (90) days after the applicable date set forth in the Milestone Schedule; (E) close of construction financing for the Generating Facility is not completed within one hundred twenty (120) days after the applicable date set forth in the Milestone Schedule; or (F) abandonment of the Generating Facility, SCE shall be entitled to:
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Failure to Meet Commercial Operation Deadline. (a) Subject to Seller’s right to extend the Guaranteed Commercial Operation Date as provided in Section 2.4 and Section 2.5, in the event that (1) Seller and Buyer mutually agree that Commercial Operation will not occur on or before the Guaranteed Commercial Operation Date; (2) the Commercial Operation Date will not occur due to any termination of this Agreement as a result of an Event of Default by Seller occurring on or before the Guaranteed Commercial Operation Date; or (3) Seller abandons the Facility, Buyer shall be entitled to:
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Failure to Meet Commercial Operation Deadline. Subject to Seller’s right to extend the Commercial Operation Deadline as provided in Section Two.4, Section Five.6(c), and Section Seven.3(for Force Majeure where Seller is the Claiming Party), in the event that (A) the Commercial Operation Date does not occur, or (B) Anaheim reasonably determines that the Commercial Operation Date will be unlikely to occur (including due to any termination of this Agreement as a result of an Event of Default by Seller occurring prior to the Commercial Operation Deadline) on or before the Commercial Operation Deadline, then, in either case (A) or (B), Anaheim shall, subject to the proviso following Section Five.6(d)(ii), be entitled to: Retain the entire Development Security, including the right to draw on and retain for its sole benefit any Letter of Credit and the proceeds thereof, posted as Development Security; and Terminate this Agreement; provided, Anaheim shall give Notice to Seller of Anaheim’s determination under this Section Five.6(d) that the Commercial Operation Date is unlikely to occur on or before the Commercial Operation Deadline, and if within thirty (30) days from the date of such Notice Seller can establish to Anaheim’s reasonable satisfaction that Commercial Operation Date is likely to occur on or before the Commercial Operation Deadline, Anaheim may not terminate the Agreement prior to the Commercial Operation Deadline or retain the Development Security at that time, but shall retain all other rights under this Agreement, including the right to terminate the Agreement and retain the entire Development Security if the Commercial Operation Date does not occur on or before the Commercial Operation Deadline in accordance with clause (A) of the first paragraph of this Section Five.6(d). If Anaheim terminates this Agreement pursuant to this Section Five.6(d), any amount of Development Security that Seller has not yet posted with Anaheim will be immediately due and payable by Seller to Anaheim. In addition, subject to Section Four.6(b), neither Party shall have liability for damages for failure to deliver or purchase Product after the effective date of such termination; provided however, such termination does not alter Seller's obligation to deliver the RECs that are associated with previously sold and purchased Product. Notwithstanding anything to the contrary within this Section Five.6(d), the Commercial Operation Deadline shall not be extended beyond the date set forth in Section Two.4(b).
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Related to Failure to Meet Commercial Operation Deadline

  • Cure Period Prior to any claim for default being made, either the Buyer or Seller will have an opportunity to cure any alleged default. If either Buyer or Seller fails to comply with any provision of this Agreement, the other party will deliver written notice to the non- complying party specifying such non-compliance. The non-complying party shall have calendar days after delivery of such notice to cure the non-compliance.

  • Election Deadline A Form of Election must be received by the Exchange Agent by the close of business on the third business day prior to the Effective Time (the “Election Deadline”) in order to be effective. All elections will be irrevocable.

  • Termination for Failure to Close This Agreement shall automatically be terminated if the Closing Date shall not have occurred by July 7, 2016; provided, that the right to terminate this Agreement pursuant to this Section 7.2 shall not be available to any Party whose breach of any provision of this Agreement results in the failure of the Closing to have occurred by such time.

  • Response Time PROVIDING PARTY shall respond to and resolve any problems in connection with the Corporate Services for RECEIVING PARTY within a commercially reasonable period of time, using response and proposed resolution times consistent with its response and resolution of such problems for itself.

  • Failure to Close (A) If Seller(s) fails to convey the property as provided in this contract: Buyer(s) may exercise legal remedies including suit for specific performances or damages. Agent may xxx Xxxxxx(s) to recover loss of commission. Agent may pay Xxxxxxx Money into a court of competent jurisdiction, or retain Xxxxxxx Money until directed to distribute the same by a court of competent jurisdiction.

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.

  • Time Deadlines Tenant shall use its best, good faith, efforts and all due diligence to cooperate with the Architect, the Engineers, and Landlord to complete all phases of the Construction Drawings and the permitting process and to receive the permits, and with Contractor for approval of the "Cost Proposal," as that term is defined in Section 4.2 of this Tenant Work Letter, as soon as possible after the execution of the Lease, and, in that regard, shall meet with Landlord on a scheduled basis to be determined by Landlord, to discuss Tenant's progress in connection with the same. The applicable dates for approval of items, plans and drawings as described in this Section 3, Section 4, below, and in this Tenant Work Letter are set forth and further elaborated upon in Schedule 1 (the "Time Deadlines"), attached hereto. Tenant agrees to comply with the Time Deadlines.

  • Inspection Period Buyer shall be under no obligation to purchase the Property or otherwise perform under this Agreement unless Buyer determines the Property to be, in all respects, suitable for its intended purposes. The decision as to whether the Property is suitable for its intended purposes shall be the sole decision of Buyer, determined in the absolute discretion of Buyer, with Buyer’s decision being final and binding upon both Parties. Buyer shall have until , 20 , at : ☐ AM ☐ PM to notify Seller of its termination of this Agreement due to Buyer's determination that the Property is unsuitable for its intended purpose ("Inspection Period"). In the event Buyer elects to terminate this Agreement, Buyer shall provide written notice of termination to Seller prior to the expiration of the Inspection Period. In the event Buyer provides said notice of termination, Seller and any Escrow Agent shall be obligated to return the Escrow Money to the Buyer as provided in Section V hereof, and neither party shall have any further rights or obligations under this Agreement. In the event Buyer does not submit written notice of termination prior to the expiration of the Inspection Period, the Buyer shall be deemed to be satisfied with its inspections of the Property and this contingency shall be deemed to be fulfilled. The Seller, at no expense, shall fully cooperate with Buyer in obtaining any and all approvals required from any Federal, State, or Local Government ("Governmental Approvals") necessary for Buyer to satisfy their needs during the Inspection Period for the suitability of the Property. Said Governmental Approvals shall be obtained during the Inspection Period unless the Parties agree otherwise. Any additional agreements related to this Section must be done in writing and attached to this Agreement.

  • Completion Date The Work under this Contract shall be completed by midnight of the date required in the Contract as the Material Completion and Occupancy Date unless extended by approved requests for extension of time.

  • Study Period (a) The Acquiror shall have the right, until 5:00 p.m. on the last day of the Study Period, and thereafter if the Acquiror notifies the Contributor that the Acquiror has elected to proceed to Closing in the manner described below, to enter upon the Real Property and to perform, at the Acquiror's expense, such economic, surveying, engineering, environmental, topographic and marketing tests, studies and investigations as the Acquiror may deem appropriate. If such tests, studies and investigations warrant, in the Acquiror's sole, absolute and unreviewable discretion, the acquisition of the Property for the purposes contemplated by the Acquiror, then the Acquiror may elect to proceed to Closing and shall so notify the Contributor prior to the expiration of the Study Period. If for any reason the Acquiror does not so notify the Contributor of its determination to proceed to Closing prior to the expiration of the Study Period, or if the Acquiror notifies the Contributor, in writing, prior to the expiration of the Study Period that it has determined not to proceed to Closing, this Agreement automatically shall terminate, the Acquiror shall be released from any further liability or obligation under this Agreement.

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