Common use of Milestones Monitoring and Verification Clause in Contracts

Milestones Monitoring and Verification. In addition to the duties provided in Section 5.1 of this Schedule 3.1(a), the Independent Evaluator shall, within thirty (30) days of receipt of each written notice required by Section 3.2(b) of the Facility Lease, deliver a written report (each a "Milestone Report") to Lessor and Lessee, with a copy to the PSCW, in which the Independent Evaluator opines as to whether Lessor has achieved each Milestone and whether Aggregate Construction Costs incurred by Lessor as of the date of achievement of the Milestone appear to predict that the Aggregate Construction Costs will not exceed the Approved Amount. The Independent Auditor shall also report any adjustments which need to be made in order for the Project to be completed consistent with the CPCN Approval, Good Utility Practice, commercial reasonableness and with Aggregate Construction Costs equal to or less than the Approved Amount. Lessor may file a response to the Milestone's Report with the PSCW.

Milestones Monitoring and Verification. In addition to the duties provided in Section 5.1 of this Schedule 3.1(a), the Independent Evaluator shall, within thirty (30) days of receipt of each written notice required by Section 3.2(b) of the Facility Lease, deliver a written report (each a "“Milestone Report"”) to Lessor and Lessee, with a copy to the PSCW, in which the Independent Evaluator opines as to whether Lessor has achieved each Milestone and whether Aggregate Construction Costs incurred by Lessor as of the date of achievement of the Milestone appear to predict that the Aggregate Construction Costs will not exceed the Approved Amount. The Independent Auditor shall also report any adjustments which need to be made in order for the Project to be completed consistent with the CPCN Approval, Good Utility Practice, commercial reasonableness and with Aggregate Construction Costs equal to or less than the Approved Amount. Lessor may file a response to the Milestone's Milestone Report with the PSCW.