Milestone Related Notices. (i) Seller shall provide written notice to Buyer of the achievement of each Milestone, which notice must include a certification from an officer of Seller, as applicable, that is familiar with the Project, stating that Seller has achieved the applicable Milestone. (ii) If Seller determines that it is more probable than not that it will not achieve a Milestone by the applicable Milestone Date or the Commercial Operation Date by the Guaranteed Commercial Operation Date, or if it becomes aware of any Delay Condition that could reasonably be expected result in the extension of the applicable Milestone Date or the Guaranteed Commercial Operation Date as described in Section 7.2(d), then Seller shall promptly provide written notice thereof to Buyer, which notice must be accompanied by an explanation in reasonable detail of the basis for such determination or the Delay Condition, as applicable, and the actions Seller is taking and will take in order to address any resulting delay in the achievement of either or both, as applicable, the affected Milestone and the Commercial Operation Date. If Seller fails to achieve a Milestone (other than the achievement of the Commercial Operation Date) on or prior to applicable Milestone Date, Buyer’s sole and exclusive remedy for such failure is the right to receive the information required pursuant to the foregoing provisions of this Section 7.3(a)(ii).
Appears in 5 contracts
Samples: Storage Capacity Agreement, Storage Capacity Agreement, Storage Capacity Agreement
Milestone Related Notices. (i) Seller shall provide written notice to Buyer of the achievement of each Milestone, which notice must include a certification from an officer of Seller, as applicable, that is familiar with the Project, stating that Seller has achieved the applicable Milestone.
(ii) If Seller determines that it is more probable than not that it will not achieve a Milestone by the applicable Milestone Date or the Commercial Operation Date by the Guaranteed Commercial Operation Date, or if it becomes aware of any Delay Condition that could reasonably be expected result in the extension of the applicable Milestone Date or the Guaranteed Commercial Operation Date as described in Section 7.2(d), then Seller shall promptly provide written notice thereof to Buyer, which notice must be accompanied by an explanation in reasonable detail of the basis for such determination or the Delay Condition, as applicable, and the actions Seller is taking taking and will take in order to address any resulting delay in the achievement of either or both, as applicable, the affected Milestone and the Commercial Operation Date. If Seller fails to achieve a Milestone (other than the achievement of the Commercial Operation Date) on or prior to applicable Milestone Date, Buyer’s sole and exclusive remedy for such failure is the right to receive the information required pursuant to the foregoing provisions of this Section 7.3(a)(ii).
Appears in 2 contracts
Samples: Storage Capacity Agreement, Storage Capacity Agreement
