Common use of Milestone Date for Commercial Operation Clause in Contracts

Milestone Date for Commercial Operation. ‌ (a) The Supplier acknowledges that time is of the essence to the Buyer with respect to attaining Commercial Operation of the Facility. The Supplier shall use Commercially Reasonable Efforts to achieve COD as soon as possible following the Contract Date and, in any case, COD must be achieved no later than the Longstop Date. (b) If Commercial Operation of the Facility is achieved before the COD Bonus End Date, the Supplier shall be entitled to apply a fixed payment multiplier to the Fixed Capacity Payment, which will be determined based on the time period in which the COD was achieved, as set out below (each an “Early COD Payment Multiplier”) and which Early COD Payment Multiplier shall apply for the period starting on the COD until the COD Bonus End Date. The COD Bonus End Date shall be fixed and not subject to change for any reason, including an event of Force Majeure.‌ Prior to and until May 31, 2027 1.5 From June 1, 2027 to December 31, 2027 1.4 From January 1, 2028 to April 30, 2028 1.2 (c) The Parties agree that if Commercial Operation of the Facility is not achieved by Milestone Date for Commercial Operation, the Supplier shall pay to the Buyer, within ten (10) Business Days after receipt of an invoice from the Buyer, as liquidated damages and not as a penalty, a sum of money equal to the amount of (i) the Liquidated Damages Rate multiplied by (ii) the Maximum Contract Capacity for each Business Day that is more than Milestone Date for Commercial Operation until Commercial Operation has been achieved (such amounts, “Delay Liquidated Damages”). The Buyer may issue an invoice in respect of Delay Liquidated Damages at any time that Delay Liquidated Damages are owing from the Supplier to the Buyer, but no more frequently than once per calendar month. If the Supplier fails to pay to the Buyer the amount of the Delay Liquidated Damages within ten‌

Milestone Date for Commercial Operation. ‌‌ Draft (a) The Supplier acknowledges that time is of the essence to the Buyer with respect to attaining Commercial Operation of the FacilityFacility as soon as possible. The Supplier shall use Commercially Reasonable Efforts to achieve COD as soon as possible following the Contract Date and, in any case, COD must be achieved no later than the Longstop Date. (b) If Commercial Operation of the Facility is achieved before the COD Bonus End Date, the Supplier shall be entitled to apply a fixed payment multiplier to the Fixed Capacity Payment, which will be determined based on the time period in which the COD was achieved, as set out below (each an “Early COD Payment Multiplier”) and which Early COD Payment Multiplier shall apply for the period starting on the COD until the COD Bonus End Date. The COD Bonus End Date shall be fixed and not subject to change for any reason, including an event of Force Majeure.‌ Prior to and Before May 1, 2025 until May August 31, 2027 2025 1.5 From June September 1, 2027 2025 to December 31, 2027 1.4 2025 1.3 From January 1, 2028 2026 to April 30, 2028 1.22026 1.1 (c) The Parties agree that if Commercial Operation of the Facility is not achieved by the Milestone Date for Commercial Operation, the Supplier shall pay to the Buyer, within ten (10) Business Days after receipt of an invoice from the Buyer, as liquidated damages and not as a penalty, a sum of money equal to the amount of (i) the Liquidated Damages Rate multiplied by (ii) the Maximum Contract Capacity for each Business Day that is more than after the Milestone Date for Commercial Operation until Commercial Operation has been achieved (such amounts, “Delay Liquidated Damages”). The Buyer may issue an invoice in respect of Delay Liquidated Damages at any time that Delay Liquidated Damages are owing from the Supplier to the Buyer, but no more frequently than once per calendar month. If the Supplier fails to pay to the Buyer the amount of the Delay Liquidated Damages within ten‌

Milestone Date for Commercial Operation. ‌ (a) The Supplier acknowledges that time is of the essence to the Buyer with respect to attaining Commercial Operation of the Facility. The Supplier shall use Commercially Reasonable Efforts to achieve COD as soon as possible following the Contract Date and, in any case, COD must be achieved no later than the Longstop Date.Date.‌ (b) If Commercial Operation of the Facility is achieved before the COD Bonus End Date, the Supplier shall be entitled to apply a fixed payment multiplier to the Fixed Capacity Payment, which will be determined based on the time period in which the COD was achieved, as set out below (each an “Early COD Payment Multiplier”) and which Early COD Payment Multiplier shall apply for the period starting on the COD until the COD Bonus End Date. The COD Bonus End Date shall be fixed and not subject to change for any reason, including an event of Force Majeure.‌ Prior to and until May 31, 2027 1.5 From June 1, 2027 to December 31, 2027 1.4 From January 1, 2028 to April 30, 2028 1.21.2 Draft (c) The Parties agree that if Commercial Operation of the Facility is not achieved by Milestone Date for Commercial Operation, the Supplier shall pay to the Buyer, within ten (10) Business Days after receipt of an invoice from the Buyer, as liquidated damages and not as a penalty, a sum of money equal to the amount of of‌‌‌ (i) the Liquidated Damages Rate multiplied by (ii) the Maximum Contract Capacity for each Business Day that is more than Milestone Date for Commercial Operation until Commercial Operation has been achieved (such amounts, “Delay Liquidated Damages”). The Buyer may issue an invoice in respect of Delay Liquidated Damages at any time that Delay Liquidated Damages are owing from the Supplier to the Buyer, but no more frequently than once per calendar month. If the Supplier fails to pay to the Buyer the amount of the Delay Liquidated Damages within ten‌ten (10) Business Days after receipt of an invoice from the Buyer, the Buyer shall be entitled to draw and retain from the Completion and Performance Security the amount of such Delay Liquidated Damages. (d) The maximum time period that liquidated damages shall be calculated and payable under Section 2.3(c) shall be five hundred and forty-eight (548) days.‌ (e) The Supplier acknowledges that even if the Facility has not achieved Commercial Operation by the Milestone Date for Commercial Operation, the Term shall nevertheless expire as set out on Section 9.1(b).‌ (f) The Supplier agrees that if the Facility fails to achieve Commercial Operation on or before the Longstop Date, it shall constitute a Supplier Event of Default.‌

Milestone Date for Commercial Operation. ‌ (a) The Supplier acknowledges that time is of the essence to the Buyer with respect to attaining Commercial Operation of the Facility. The Supplier shall use Commercially Reasonable Efforts to achieve COD as soon as possible following the Contract Date and, in any case, COD must be achieved no later than the Longstop Date. (b) If Commercial Operation of the Facility is achieved before the COD Bonus End Date, the Supplier shall be entitled to apply a fixed payment multiplier to the Fixed Capacity Payment, which will be determined based on the time period in which the COD was achieved, as set out below (each an “Early COD Payment Multiplier”) and which Early COD Payment Multiplier shall apply for the period starting on the COD until the COD Bonus End Date. The COD Bonus End Date shall be fixed and not subject to change for any reason, including an event of Force Majeure.‌ Prior to and Before May 1, 2025 until May August 31, 2027 2025 1.5 From June September 1, 2027 2025 to December 31, 2027 1.4 2025 1.3 From January 1, 2028 2026 to April 30, 2028 1.22026 1.1 Draft (c) The Parties agree that if Commercial Operation of the Facility is not achieved by the Milestone Date for Commercial Operation, the Supplier shall pay to the Buyer, within ten (10) Business Days after receipt of an invoice from the Buyer, as liquidated damages and not as a penalty, a sum of money equal to the amount of (i) the Liquidated Damages Rate multiplied by (ii) the Maximum Contract Capacity for each Business Day that is more than after the Milestone Date for Commercial Operation until Commercial Operation has been achieved (such amounts, “Delay Liquidated Damages”). The Buyer may issue an invoice in respect of Delay Liquidated Damages at any time that Delay Liquidated Damages are owing from the Supplier to the Buyer, but no more frequently than once per calendar month. If the Supplier fails to pay to the Buyer the amount of the Delay Liquidated Damages within ten‌

Milestone Date for Commercial Operation. ‌ (a) The Supplier acknowledges that time is of the essence to the Buyer with respect to attaining Commercial Operation of the Facility. The Supplier shall use Commercially Reasonable Efforts to achieve COD as soon as possible following the Contract Date by [May 1, 2025] and, in any case, COD must be achieved no later than the Longstop Date. (b) If Commercial Operation of the Facility is achieved before the COD Bonus End Date, the Supplier shall be entitled to apply a fixed payment multiplier to the Fixed Capacity Payment, which will be determined based on the time period in which the COD was achieved, as set out below (each an “Early COD Payment Multiplier”) and which Early COD Payment Multiplier shall apply for the period starting on the COD until the COD Bonus End Date. The COD Bonus End Date shall be remain fixed and shall not subject be delayed due to change for any reason, including an event events of Force Majeure.‌ Prior to and Before May 1, 2025 until May August 31, 2027 1.5 2025 [1.5] From June September 1, 2027 2025 to December 31, 2027 1.4 2025 [1.3] From January 1, 2028 2026 to April 30, 2028 1.22026 [1.1] Draft (c) The Supplier acknowledges that time is of the essence to the Buyer with respect to attaining Commercial Operation of the Facility by the Milestone Date for Commercial Operation. The Parties agree that if Commercial Operation of the Facility is not achieved by the Milestone Date for Commercial Operation, the Supplier shall pay to the Buyer, within [ten (10) )] Business Days after receipt of an invoice from the Buyer, as liquidated damages and not as a penalty, a sum of money equal to the amount of (i) the Liquidated Damages Rate multiplied by (ii) the [Maximum Contract Capacity Capacity] for each Business Day that is more than after the Milestone Date for Commercial Operation until Commercial Operation has been achieved (such such‌ amounts, “Delay Liquidated Damages”). The Buyer may issue an invoice in respect of Delay Liquidated Damages at any time that Delay Liquidated Damages are owing from the Supplier to the Buyer, but no more frequently than once per calendar month. If the Supplier fails to pay to the Buyer the amount of the Delay Liquidated Damages within ten‌[ten (10)] Business Days after receipt of an invoice from the Buyer, the Buyer shall be entitled to draw and retain from the Completion and Performance Security the amount of such Delay Liquidated Damages. (d) The maximum time period that liquidated damages shall be calculated and payable under Section 2.3(c) by the Supplier for failure to meet the Milestone Date for Commercial Operation of the Facility, shall be [five hundred and forty-five (545) days]. (e) The Supplier acknowledges that even if the Facility has not achieved Commercial Operation by the Milestone Date for Commercial Operation, the Term shall nevertheless expire as set out on Section 9.1(b). (f) The Supplier agrees that if the Facility fails to achieve Commercial Operation prior to the Longstop Date, it shall constitute a Supplier Event of Default.‌ (g) If there occurs or arises any incident, event or circumstance which results, or is likely to result, in a delay in the aggregate of thirty (30) days or more in the achievement of Commercial Operation following the Milestone Date for Commercial Operation, including delays arising from events of Force Majeure, the Supplier shall promptly (and, in any event, within ten (10) Business Days of the date that such delay was first reasonably known to, or should reasonably have been known by, the Supplier) notify the Buyer and the Parties shall meet to discuss strategies for eliminating or reducing, to the extent possible and practicable to do so, the impact of such delay on the development, construction and/or commissioning of the Facility.