Operation by the Seller Clause Samples
The "Operation by the Seller" clause defines the seller's responsibilities and authority to manage, operate, or maintain the subject property or business during a specified period, often between signing and closing of a transaction. Typically, this clause outlines the standards or limitations under which the seller must operate, such as maintaining normal business practices, preserving assets, or refraining from significant changes without the buyer's consent. Its core function is to ensure the property or business remains in a consistent and agreed-upon condition, thereby protecting the buyer from unexpected changes or deterioration before the transaction is finalized.
Operation by the Seller. 9.4.1 The Seller shall control and operate the Plant in accordance with the practice applied by a Reasonable and Prudent Operator.
9.4.2 From and after the Commercial Operations Date, the Seller shall control and operate the Plant in accordance with the Purchaser's Dispatch instructions, provided such Dispatch is in accordance with the terms of this Agreement (including without limitations Clause 9.1 of this Agreement).
Operation by the Seller. 9.3.1 The Seller shall control and operate the Plant in accordance with the practice applied by a Reasonable and Prudent Operator.
Operation by the Seller. 9.4.1 The Seller shall control and operate the Plant in accordance with the practice applied by a Reasonable and Prudent Operator.
9.4.2 From and after the Commercial Operations Date, the Seller shall control and operate the Plant in accordance with the Purchaser's Dispatch instructions, provided such Dispatch is in accordance with the terms of this Agreement (including without limitations Schedule 1 of this Agreement).
9.4.3 Commencing with the Commercial Operations Date, the Seller shall keep the Control Centre informed as to the Declared Available Capacity of the Plant and shall immediately advise the Control Centre of any change in such Declared Available Capacity.
9.4.4 Subject to the Minimum Functional Specifications, the Seller shall operate and maintain the Plant in such a manner so as not to have an adverse effect on the Purchaser's voltage level, voltage waveform or the Purchaser’s Grid System.
9.4.5 The Seller shall, in accordance with the Minimum Functional Specifications, install protective devices within the Plant and/or the Interconnection Facilities having ratings and characteristics approved by the Purchaser to protect Seller’s equipment in the Plant and at the Interconnection Facilities, and, subject to the Minimum Functional Specifications, shall maintain the settings of all such devices at the levels acceptable to the Purchaser.