Common use of Failure to Meet the Guaranteed Commercial Operation Date Clause in Contracts

Failure to Meet the Guaranteed Commercial Operation Date. Seller shall cause the Project to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date. If the Commercial Operation Date occurs after the Guaranteed Commercial Operation Date after giving effect to Permitted Extensions, then Buyer shall be entitled to declare an Event of Default and collect the Damage Payment pursuant to Article Five. [The following subsections (d) and (e) shall only apply to a New Project:]

Appears in 10 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

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