MANAGED ASSETS EVALUATIONS (INITIAL AND EXIT) Sample Clauses

MANAGED ASSETS EVALUATIONS (INITIAL AND EXIT). An initial evaluation of the Equipment and structures of the Managed Assets shall be performed prior to the Commencement Date for the purpose of establishing the baseline schedule of the condition of the structures and the quantity and condition (including functionality and in service date) of equipment (the “Equipment Baseline Evaluation”), using Baseline Asset Evaluation Procedures that shall be provided by the Company to the WPCA, for the WPCA’s review and approval (“Baseline Asset Evaluation Procedures”). As part of the Equipment Baseline Evaluation, the Company shall digitally photograph and prepare an itemized inventory of all Equipment, assets and property constituting the Managed Assets and shall review all relevant information. All information collected and developed by the Company, in regard to the Equipment Baseline Evaluation, shall be committed in a formal report to the WPCA prior to the Commencement Date. The WPCA shall have 45 days to review the Company’s Equipment Baseline Evaluation of the Managed Assets and shall provide the Company a list of any specific Equipment or asset conditions or inventories of the Baseline Evaluations with which it does not agree. The Parties shall, within 45 days from notice from the WPCA, meet to review outstanding items and agree on a resolution to each. Any disputes with respect to the results or resolution to the items in the Equipment Baseline Evaluation not resolved to the mutual satisfaction of the parties, shall be determined as provided for in Section 11.10 (Forum for Dispute Resolution). An initial evaluation and inventory of the chemicals, spare parts, Consumables and supplies of the Managed Assets shall be performed by the Company, with a representative from the WPCA present, not less than 15 days prior to the Commencement Date for the purpose of establishing the baseline schedule of the quantity and condition of the chemicals, spare parts, Consumables and supplies (the “Baseline Inventory”). As part of the Baseline Inventory, the Company shall prepare an itemized inventory of all chemicals, spare parts, Consumables and supplies of the Managed Assets and shall review all relevant information. All information collected and developed by the Company, in regards to the Baseline Inventory, shall be committed in a formal report to the WPCA prior to the Commencement Date. The WPCA shall have 14 days to review the Company’s Baseline Inventory of the Managed Assets and shall provide the Company a list of any ...
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