Minimum Acceptance Criteria Achieved. In the event that a Subproject fails to achieve the Performance Guarantee by the applicable Guaranteed Substantial Completion Date, as evidenced by the Performance Test results, but meets the Minimum Acceptance Criteria and all other requirements for Substantial Completion of such Subproject, then Contractor shall have the right, upon written notice to Owner, to elect one of the following options; provided, however, if the Performance Tests results evidence that the LNG Production Rate does not exceed ninety eight percent (98%) of the Performance Guarantee, then Owner shall have the right, upon written notice, to elect and direct Contractor, within thirty (30) Days after receipt of a notice from Contractor specifying the Performance Test results and requesting Owner’s election to proceed with one of the following options:
Appears in 5 contracts
Samples: Escrow Agreement, Escrow Agreement (Sabine Pass Liquefaction, LLC), Engineering, Procurement and Construction Agreement (Cheniere Energy Inc)
Minimum Acceptance Criteria Achieved. In the event that a Subproject fails to achieve the Performance Guarantee by the applicable Guaranteed Substantial Completion Date, as evidenced by the Performance Test results, but meets the Minimum Acceptance Criteria and all other requirements for Substantial Completion of such Subproject, then Contractor shall have the right, upon written notice to Owner, to elect one of the following options; provided, however, if the Performance Tests results evidence that the LNG Production Rate does not exceed ninety eight percent (98%) of the Performance Guarantee, then Owner shall have the right, upon written notice, to elect and direct Contractor, within thirty (30) Days after receipt of a notice from Contractor specifying the Performance Test results and requesting Owner’s election election, to proceed with one of the following options:
Appears in 4 contracts
Samples: Escrow Agreement (Sabine Pass Liquefaction, LLC), Escrow Agreement (Cheniere Energy Partners LP Holdings, LLC), Escrow Agreement (Cheniere Energy Partners LP Holdings, LLC)
Minimum Acceptance Criteria Achieved. In the event that a Subproject 3 fails to achieve the Performance Guarantee by the applicable Guaranteed Substantial Completion Date, as evidenced by the Performance Test results, but meets the Minimum Acceptance Criteria and all other requirements for Substantial Completion of such SubprojectCompletion, then Contractor shall have the right, upon written notice to Owner, to elect one of the following options; provided, however, if the Performance Tests results evidence that the LNG Production Rate does not exceed ninety eight percent (98%) of the Performance Guarantee, then Owner shall have the right, upon written notice, to elect and direct Contractor, within thirty (30) Days after receipt of a notice from Contractor specifying the Performance Test results and requesting Owner’s election to proceed with one of the following options:
Appears in 4 contracts
Samples: Procurement and Construction Agreement (Cheniere Corpus Christi Holdings, LLC), Procurement and Construction Agreement (Cheniere Energy Inc), Procurement and Construction Agreement (Corpus Christi Pipeline GP, LLC)
Minimum Acceptance Criteria Achieved. In the event that a Subproject 5 fails to achieve the Performance Guarantee by the applicable Guaranteed Substantial Completion Date, as evidenced by the Performance Test results, but meets the Minimum Acceptance Criteria and all other requirements for Substantial Completion of such SubprojectSubproject 5, then Contractor shall have the right, upon written notice to Owner, to elect one of the following options; provided, however, if the Performance Tests results evidence that the LNG Production Rate does not exceed ninety eight percent (98%) of the Performance Guarantee, then Owner shall have the right, upon written notice, to elect and direct Contractor, within thirty (30) Days after receipt of a notice from Contractor specifying the Performance Test results and requesting Owner’s election to proceed with one of the following options:
Appears in 2 contracts
Samples: Escrow Agreement (Cheniere Energy Partners, L.P.), Escrow Agreement (Cheniere Energy Partners, L.P.)
Minimum Acceptance Criteria Achieved. In the event that a Subproject 6(a) fails to achieve the Performance Guarantee by the applicable Guaranteed Substantial Completion Date, as evidenced by the Performance Test results, but meets the Minimum Acceptance Criteria and all other requirements for Substantial Completion of such Subproject, then Contractor shall have the right, upon written notice to Owner, to elect one of the following options; provided, however, if the Performance Tests results evidence that the LNG Production Rate does not exceed ninety eight percent (98%) of the Performance Guarantee, then Owner shall have the right, upon written notice, to elect and direct Contractor, within thirty (30) Days after receipt of a notice from Contractor specifying the Performance Test results and requesting Owner’s election to proceed with one of the following options:
Appears in 1 contract
