OPERATING RISK Sample Clauses

OPERATING RISK. Companies listed on ChiNext Board are generally in the early stage of development, whose business is unstable, profitability is low, and less resilient against market and industry risks. Operating risks experienced by these companies often include technical failure, new products are not well-received by the market, failure to catch up the market development and any changes in the founder, management team and core technician team.
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OPERATING RISK. The Parties shall mitigate operating risk by employing technically competent personnel, consultants and contractors as necessary to operate their respective Project facilities to the expected plant availability levels in accordance with prudent utility practice. Each Party shall not pass on to the other cost increases due to operational inefficiency, the extent of which shall be determined using benchmarks approved by the Regulator. Each Party shall be entitled to disconnect its facilities in emergency circumstances where continued parallel operation would endanger its personnel and plant. Such action shall not be deemed to be an event of default provided the Parties take all reasonable steps to resolve the emergency situation within the shortest possible time. FISCAL POLICY RISK Each Party shall be responsible for duties, levies and taxes that may be imposed by legislation. The Parties agree to negotiate appropriate amendments to this Agreement where changes in legislation impose cost impacts that have an adverse impact on financial viability. MONETARY POLICY RISK The Seller shall, to the extent possible, arrange project finance with adequate provisions to minimise cost impacts due to variations in interest, inflation and foreign currency rates. Unavoidable cost changes shall be passed on to the Purchaser using the automatic tariff adjustment formula approved by the Regulator. MARKET RISK The Seller shall be obliged to supply or pay and the Purchaser shall be obliged to take or pay for an agreed level of power and energy subject to an agreed tolerance level for variations between actual and notified quantities. Payment shall be in accordance with a cost-reflective tariff established in accordance with an agreed methodology. The minimum duration of the PPA shall be determined by the cash flow requirements for fulfilling debt service and return on equity. The Parties have agreed to a set of tariffs, including an escalation clause, as laid out in Annex A..
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Related to OPERATING RISK

  • Builder’s Risk additional provisions The insurance specified shall be maintained in force until final acceptance of the project by the State.

  • Developer Operating Requirements (a) Developer must comply with all applicable NYISO tariffs and procedures, as amended from time to time.

  • Periodic Risk Assessment Provider further acknowledges and agrees to conduct periodic risk assessments and remediate any identified security and privacy vulnerabilities in a timely manner.

  • All Risk Property Insurance (i) During construction, an All Risk Property insurance policy including earthquake and flood (with sublimits as appropriate) shall be maintained during the course of Work being performed and include Start-up and testing for installed equipment and delayed opening coverage. Such policy shall include coverage for materials and equipment while under the care, custody and control of the Seller during the course of Work, at the Site, offsite or while in transit to the Site.

  • Operating Requirements Any operating and technical requirements that may be applicable due to Regional Transmission Organization, Independent System Operator, control area, or the Connecting Transmission Owner’s requirements, including those set forth in the Small Generator Interconnection Agreement. Operating Requirements shall include Applicable Reliability Standards.

  • PROPERTY AND RISK 7.1 Risk in each Element of the Contracted Services shall pass to the Customer upon delivery to the Site.

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part.

  • Maintenance and Operation Member-Generator agrees to maintain their system and facilities in accordance with applicable manufacturer's recommended maintenance schedule and standard prudent engineering practices. Member-Generator covenants and agrees to operate their system, facilities and equipment so as to minimize the likelihood for a malfunction or other disturbance, damaging or otherwise affecting or impairing Cooperative’s electrical system. Member-Generator shall comply with all applicable laws, regulations, zoning, building codes, safety rules and other environmental regulations or restrictions applicable to the design, installation, operation and maintenance of the Member-Generator's System. Member-Generator must, at least once every year, conduct a test to confirm that Member-Generator’s System automatically ceases to energize the output (interconnection equipment output voltage goes to zero) within two (2) seconds of being disconnected from Cooperative’s electrical system. Disconnecting the Member-Generator’s System from Cooperative’s electrical system at the visible disconnect switch and measuring the time required for the unit to cease to energize the output shall satisfy this test. Member-Generator shall maintain a record of the results of these tests and, upon request by Cooperative, shall provide a copy of the test results to Cooperative. If Member-Generator is unable to provide a copy of the test results upon request, Cooperative shall notify Member- Generator by mail that Member-Generator has thirty (30) days from the date Member-Generator receives the request to provide Cooperative with the results of a test. If Member-Generator does not provide Cooperative with the test results within the thirty (30) day time period or if the test results provided to Cooperative show that Member-Generator’s net metering unit is not functioning correctly, Cooperative may immediately disconnect Member-Generator’s System from Cooperative’s electrical system. If Member-Generator’s equipment ever fails this test, Member-Generator shall immediately disconnect Member-Generator’s System from Cooperative's electrical system. Member-Generator’s System shall not be reconnected to Cooperative's electrical system by the Member-Generator until Member-Generator’s System is repaired and operating in a normal and safe manner. Cooperative shall have the right to have a representative present and informed when any such tests are conducted. Cooperative does not warrant the testing procedures or results by the presence of its representative. Member-Generator is responsible for protecting their equipment from transient high voltage spikes caused by lightning and/or transient low voltage conditions caused by faults or short circuits, and from any other causes or events. Therefore, Cooperative shall not be responsible for damage to Member-Generator’s equipment allegedly caused by transient high voltage spikes caused by lightning and/or transient low voltage conditions caused by faults or short circuits or other causes or events. Member-Generator agrees to notify Cooperative no less than thirty (30) days prior to modification of the components or design of the Member-Generator’s System that in any way may degrade or significantly alter the System’s output characteristics. Member-Generator acknowledges that any such modifications will require submission of a new Application and Agreement to Cooperative.

  • Builder’s Risk Insurance Contractor shall provide a Builder’s Risk Policy to be made payable to the Owner and Contractor, as their interests may appear. The policy amount should be equal to 100% of the Contract Sum, written on a Builder’s Risk “All Risk”, or its equivalent. The policy shall be endorsed as follows: The following may occur without diminishing, changing, altering or otherwise affecting the coverage and protection afforded the insured under this policy:

  • PROJECT 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

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