Guaranteed Commercial Operation Deadline Sample Clauses

Guaranteed Commercial Operation Deadline. The “Guaranteed Commercial Operation Deadline” is December 31, 2025.
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Guaranteed Commercial Operation Deadline. The guaranteed deadline for Commercial Operation for the Project is December 31, 2028, which date may not be extended. Failure to achieve Commercial Operation by such date constitutes an Event of Default by Owner and will result in the automatic termination of the ESSA. Substantial Completion Substantial Completion means, among other things: the Project has been interconnected to the grid in compliance with an executed Interconnection Agreement; Owner has delivered to Company a certificate of an Independent Engineer certifying the Project is mechanically completed in all material respects; Owner has received all Permits necessary for Owner to perform its obligations under the ESSA and such Permits are in final form and in full force and effect; Owner has FERC market-based rate authority and is registered as a market participant in NYISO for the Project; the Project has been registered with the NYISO as a dispatchable energy storage resource capable of operating in NYISO; Owner has completed registrations with NERC as the owner and operator of the Project; if applicable, a NYSERDA Agreement (between NYSERDA and Owner) shall be in full force and effect; and other conditions as set forth in the definitive agreements. Commercial Operation Commercial Operation means, among other things: Substantial Completion shall have occurred; testing and commissioning of the Project to verify mechanical, electrical and structural performance per the specifications in the ESSA, including verification of Contract Capacity and Guaranteed Round-Trip Efficiency, among other performance criteria, shall have been completed; Owner shall have obtained all Permits necessary for Owner to perform its obligations under the ESSA; Owner shall have delivered Performance Assurance; Owner shall have designated Company as the Financially Responsible Party for the Project; Owner shall have obtained confirmation from NYISO that it has satisfied all NYISO requirements to obtain Capacity Resource Interconnection Service (or XXXX) and Energy Resource Interconnection Service (or ERIS) and in amounts not less than the Contract Capacity and the commensurate Contract Capacity Energy; if applicable, NYSERDA shall have confirmed that Owner has satisfied all conditions to Commercial Operation under the NYSERDA Agreement; the Project is not subject to any Encumbrances other than Permitted Encumbrances; and Owner is not in default under the ESSA. Construction Milestones / Recovery Plan Owner will comply wi...
Sample 1

Related to Guaranteed Commercial Operation Deadline

  • Commercial Operation Date (COD) Bus Terminal and Commercial Complex shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Bus Terminal and Commercial Complex shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Fee in accordance with provisions of Article 27 and that the entry of Bus Terminal or part thereof into commercial service shall always be subject to compliance with the provisions of Clause 18.3 and Clause 26.2.

  • Grant Completion Deadline The grant completion deadline is [INSERT DATE]. The Grant Completion Deadline is the date when the project is 100% complete and all grant and matching funds have been paid out in accordance with the work described in the Scope of Work, detailed in the Approved Project Budget. If the Grantee finds it necessary to request an extension of the Grant Completion Deadline, the extension may not exceed 30 days, unless the Grantee can demonstrate extenuating circumstances as described in Section 13 of this Agreement.

  • Failure to Achieve Commercial Operation If the Large Generating Facility fails to achieve Commercial Operation, but it or another generating facility is later constructed and makes use of the Network Upgrades, the Participating TO shall at that time reimburse Interconnection Customer for the amounts advanced for the Network Upgrades. Before any such reimbursement can occur, the Interconnection Customer, or the entity that ultimately constructs the generating facility, if different, is responsible for identifying and demonstrating to the Participating TO the appropriate entity to which reimbursement must be made in order to implement the intent of this reimbursement obligation.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Final Completion Date Final Completion for the Work as defined in Article 6.1.3 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by September 30, 2022.

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