Common use of Milestone Date for Commercial Operation Clause in Contracts

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 Facility 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.‌

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 Facility as soon as possibleFacility. 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.‌

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 Facility as soon as possibleFacility. 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.‌

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 Facility as soon as possibleFacility. 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 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.‌Majeure.