Final Operating Fee Payment. The final operating fee payment is due on the Lease Anniversary prior to the End Date. The final operating fee payment covers the last year of Commercial Operations on the lease and will be calculated in accordance with the formula in subsection (4) below.
Appears in 7 contracts
Samples: Commercial Lease of Submerged Lands for Renewable Energy Development, Commercial Lease of Submerged Lands for Renewable Energy Development, Commercial Lease of Submerged Lands for Renewable Energy Development
Final Operating Fee Payment. The final operating fee payment is due on the Lease Anniversary prior to the End Date. The final operating fee payment covers the last year of Commercial Operations on the lease and will be calculated in accordance with the formula in subsection (4) belowas follows.
Appears in 3 contracts
Samples: Commercial Lease, Commercial Lease of Submerged Lands for Renewable Energy Development, Commercial Lease
