Operation of the Project. The operation of the Project in the manner contemplated on the Closing Date and as described herein does not conflict with any zoning, water or air pollution or other ordinance, order, law or regulation applicable thereto; the Borrower will cause the Project to be operated in accordance with all applicable federal, state and local laws or ordinances (including rules and regulations) relating to zoning, building, safety, and environmental quality and will obtain and maintain in effect any licenses, permits, franchises or other governmental authorizations necessary for the operation of the Project.
Operation of the Project. During the Project Operational Phase the Project Premises shall be operated in accordance with the provisions of this Agreement and:
(i) the Project description, operating budget and other documents set forth in Appendix B and the Internal Review Package;
(ii) the management and operating plan as defined in Section 15 below, to be approved by the Corporation prior to commencement of occupancy of the Project Premises, or, where premises are already occupied, prior to any payment under this Agreement, and periodically thereafter throughout the Project Operational Phase;
(iii) any restrictive deed covenants affecting the Project Premises; and
(iv) any applicable federal, State or local law, regulation or ordinance governing the operation of the Project and Project Premises. The foregoing are deemed incorporated by reference as part of this Agreement.
Operation of the Project. (i) Seller shall operate and maintain the Project in accordance with Prudent Utility Practice and Applicable Law in order to maximize the Storage Contract Capacity and the Discharging Energy available from the Project. If the Storage Facility is curtailed due to Force Majeure, by the Transmission Provider or Reliability Entity, or for any reason other than Buyer’s actions or omissions, Buyer shall not be obligated to pay for any curtailed Discharging Energy and Seller will not be liable for any failure to deliver such Discharging Energy.
(ii) Seller shall ensure that personnel capable of starting, operating, and stopping the Project are either available at the Project or capable of remotely starting, operating, and stopping the Project within 10 minutes, and capable of being physically present at the Project with no more than two hours’ notice. In all cases, Seller shall ensure that personnel capable of starting, operating, and stopping the Project can be reached by phone at all times.
Operation of the Project. Phase(s)
Operation of the Project. So long as the Company operates the Project, it will operate the Project as an "industrial project" within the meaning of the Act as of the date hereof, and as "facilities for the local furnishing of electric energy or gas" as contemplated by Section 142(a)(8) of the Code, as such respective terms are defined as of the date of this Agreement.
Operation of the Project. Borrower shall at all times operate the Project as an affordable housing apartment rental facility in compliance with all Requirements.
Operation of the Project. (a) Until the Closing, except as otherwise set forth in this Agreement or the Seller Disclosure Schedule or as otherwise consented to by the Purchaser (which consent will not be unreasonably withheld, conditioned or delayed), the Sellers will conduct the Project in the ordinary course of business in all material respects consistent with prior practice.
(b) Until the Closing, except as otherwise set forth in this Agreement or the Seller Disclosure Schedule or as otherwise consented to by the Purchaser, the Sellers will not sell, lease or license, or permit any Encumbrance on, any of the Purchased Assets other than in the ordinary course of business.
Operation of the Project. (i) Seller shall operate and maintain the Project in accordance with Prudent Utility Practice and Applicable Law in order to maximize the Storage Contract Capacity and the Discharging Energy available from the Project. If the Storage Facility is curtailed due to Force
(ii) Seller shall ensure that personnel capable of starting, operating, and stopping the Project are either available at the Project or capable of remotely starting, operating, and stopping the Project within 10 minutes, and capable of being physically present at the Project with no more than two hours’ notice. In all cases, Seller shall ensure that personnel capable of starting, operating, and stopping the Project can be reached by phone at all times.
Operation of the Project. At all times after the Commercial Operation Date, the Project shall be operated, maintained and managed (either directly by PEF or its permitted successors and assigns through its or their own employees or those of its or their Affiliates or indirectly through independent contractors employed by it or them) by persons experienced in operating gas-fired electric power generation facilities of at least 300 MW in the aggregate, including at least one gas-fired facility of at least 110 MW.
Operation of the Project. Except as otherwise set forth herein, Seller, at its sole cost and expense, shall use Prudent Utility Practice to provide operation, repair, monitoring and maintenance services to the Project in accordance with Applicable Laws during the Term. In accordance with the definition of “Project”, Seller is permitted to repair, supplement, augment or otherwise modify all or part of the Project from time to time. It is acknowledged that Seller has the right and option in its discretion to install Capacity in excess of the Expected Installed Power Capacity or Expected Installed Energy Capacity as back-up for the Installed Capacity (“Excess Capacity”). For all purposes of this Agreement, the amount of Installed Capacity shall never be deemed to exceed the Expected Installed Power Capacity, and (for the avoidance of doubt) Buyer shall have no rights to instruct Seller to (i) charge or discharge the Project at an instantaneous rate (in MW) in excess of the Installed Capacity or (ii) charge the Project to a level (in MWh) in excess of the Installed Capacity multiplied by four hours.
