Common use of Failure to Meet Commercial Operation Deadline Clause in Contracts

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: (A) The entire Development Security, including the right to draw on and retain for its sole benefit any Letter of Credit and the proceeds thereof, as well as any cash, posted as Development Security; and (B) Terminate this Agreement; If SCE terminates this Agreement pursuant to this Section 3.06(d), any amount of Development Security that Seller has not yet posted with SCE will be immediately due and payable by Seller to SCE. In addition, subject to Section 2.04(b), if SCE terminates this Agreement pursuant to this Section 3.06(d), neither Party shall have liability for damages for failure to deliver or purchase Product after the effective date of such termination, and the Forward Settlement Amount will be Zero dollars ($0).

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: (A) The entire Development Security, including the right to draw on and retain for its sole benefit any Letter of Credit and the proceeds thereof, as well as any cash, posted as Development Security; and (B) Terminate this Agreement; If SCE terminates this Agreement pursuant to this Section 3.06(d), any amount of Development Security that Seller has not yet posted with SCE will be immediately due and payable by Seller to SCE. In addition, subject to Section 2.04(b2.05(b), if SCE terminates this Agreement pursuant to this Section 3.06(d), neither Party shall have liability for damages for failure to deliver or purchase Product after the effective date of such termination, and with the Forward Settlement Amount will be being Zero dollars ($0).

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 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; (iiA) the Commercial Operation Date does not occur, or (B) Anaheim reasonably determines that the Commercial Operation Date will not 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 (iii) Seller abandons B), Anaheim shall, subject to the Generating Facilityproviso following Section 3.06(d)(ii), SCE shall be entitled to: (Ai) The 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, as well as any cash, posted as Development Security; and (Bii) Terminate this Agreement; provided, Anaheim shall give Notice to Seller of Anaheim’s determination under this Section 3.06(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 3.06(d). (iii) If SCE Anaheim terminates this Agreement pursuant to this Section 3.06(d), any amount of Development Security that Seller has not yet posted with SCE Anaheim will be immediately due and payable by Seller to SCE. Anaheim. (iv) In addition, subject to Section 2.04(b), if SCE terminates this Agreement pursuant to this Section 3.06(d2.06(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. (v) Notwithstanding anything to the Forward Settlement Amount will contrary within this Section 3.06(d), the Commercial Operation Deadline shall not be Zero dollars ($0extended beyond the date set forth in Section 1.04(b).

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: (A) The entire Development Security, including the right to draw on and retain for its sole benefit any Letter of Credit and the proceeds thereof, as well as any cash, posted as Development Security; and (B) Terminate this Agreement; provided, SCE shall give Notice to Seller of any determination under Section 3.06(d)(iii) 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 SCE’s reasonable satisfaction that Seller has not abandoned the Generating Facility and that the Commercial Operation Date is likely to occur on or before the Commercial Operation Deadline, SCE 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 (i) of the first paragraph of this Section 3.06(d). If SCE terminates this Agreement pursuant to this Section 3.06(d), any amount of Development Security that Seller has not yet posted with SCE will be immediately due and payable by Seller to SCE. In addition, subject to Section 2.04(b2.05(b), if SCE terminates this Agreement pursuant to this Section 3.06(d), neither Party shall have liability for damages for failure to deliver or purchase Product after the effective date of such termination, and with the Forward Settlement Amount will be being Zero dollars ($0).

Failure to Meet Commercial Operation Deadline. Subject to Seller’s '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: (A) The entire Development Security, including the right to draw on and retain for its sole benefit any Letter of Credit and the proceeds thereof, as well as any cash, posted as Development Security; and (B) Terminate this Agreement; If SCE terminates this Agreement pursuant to this Section 3.06(d), any amount of Development Security that Seller has not yet posted with SCE will be immediately due and payable by Seller to SCE. In addition, subject to Section 2.04(b2.05(b), if SCE terminates this Agreement pursuant to this Section 3.06(d), neither Party shall have liability for damages for failure to deliver or purchase Product after the effective date of such termination, and with the Forward Settlement Amount will be being Zero dollars ($0).

Failure to Meet Commercial Operation Deadline. (a) Subject to Seller’s right to extend the Guaranteed Commercial Operation Deadline Date as provided in Section 1.04, Section 3.06(c), 2.4 and Section 5.03 (for Force Majeure where Seller is the Claiming Party)2.5, in the event that (i1) Seller and SCE Buyer mutually agree that Commercial Operation will not occur on or before the Guaranteed Commercial Operation DeadlineDate; (ii2) 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 DeadlineDate; or (iii3) Seller abandons the Generating Facility, SCE Buyer shall be entitled to: (Ai) The entire Development Security, including the right to draw on and retain for its sole benefit any Letter of Credit and the proceeds thereof, as well as any cash, posted as Development Security; and (Bii) Terminate this Agreement; . (b) If SCE Buyer terminates this Agreement pursuant to this Section 3.06(d)12.6, any amount of Development Security that Seller has not yet posted with SCE Buyer will be immediately due and payable by Seller to SCEBuyer. In addition, subject to Section 2.04(b), if SCE Buyer terminates this Agreement pursuant to this Section 3.06(d12.6(b), neither Party shall have liability for damages for failure to deliver or purchase Product after the effective date of such termination, and the Forward Settlement Amount will Termination Payment shall be Zero deemed to be zero dollars ($0).