Operational Term Sample Clauses

Operational Term. The "Operational Term" shall mean that period of time commencing upon the Effective Date and continuing for the following two (2) years.
Sample 1
Operational Term. The operational term of this BOT Contract (the “Operational Term”) shall be for the period from the date of execution of this BOT Contract until the date falling twenty-five (25) years after the Commercial Operation Date of the Facility, unless otherwise extended pursuant to an agreement between the Parties or earlier terminated pursuant to the provisions of this BOT Contract. If the Term of the Power Purchase Agreement is extended for any period, the Operational Term shall be automatically extended for that period in the manner and in accordance with the terms set out in the Power Purchase Agreement.
Sample 1
Operational Term. If prior to the end of the Primary Term, or Extended Primary Term, if applicable, Operator begins the injection or deposit of Carbon Dioxide (“Injection Activities”) under any portion of the Leased Premises or within any reservoirs and subsurface pore spaces, stratum or strata unitized or amalgamated therewith (collectively, the “Storage Reservoir”), then this Agreement shall continue beyond the Primary Term, or Extended Primary Term, if applicable, and shall be maintained with respect to those portions of the Leased Premises included within the Storage Reservoir (the “Storage Premises”) for so long as Injection Activities are occurring without a continuous cessation of more than one (1) year (“Operational Term”). As consideration for the Operational Term, Operator shall pay to Owner the Injection Fee as set forth in Section 3, below. Where Injection Activities cease for a continuous period of more than one (1) year and the Operational Term is not extended by operation of other terms hereunder, Operator may, in its sole discretion, pay an amount equal to the Annual Rental (the “Shut-in Payment”), such payment to be made on or before the anniversary date of the cessation of Injection Activities and annually thereafter, and while such payment is made it will be considered that the Operational Term has continued. For purposes hereof and at Operator’s sole discretion, the Storage Reservoir may include: (i) any lands located within the “Area of Review” as defined and as set forth in: Ch. 3 of the Geologic Sequestration of Carbon Dioxide: Underground Injection Control Program Class VI Well Area of Review Evaluation and Corrective Action Guidance of the United States Environmental Protection Agency (“EPA”); (ii) the “storage reservoir” as defined and set forth in the Nebraska Geologic Storage of Carbon Dioxide Act; or (iii) the “Area of Review” as may be hereinafter defined by the State of Nebraska, or other city, county or governmental agencies possessing requisite jurisdiction, including, but not limited to, the Nebraska Oil and Gas Conservation Commission (“NOGCC”).
Sample 1
Operational Term. The sale and purchase of electricity as well as the operations and maintenance of the solar facility shall become effective upon the date this Agreement is signed by both Parties (Effective Date) and shall remain in effect for a period of Twenty (20) years from the Completion Date, subject to the early termination provisions.
Sample 1

Related to Operational Term

  • Service Term XOOM agrees to act as your exclusive natural gas supplier and will provide competitive retail natural gas service to you. The term of this Contract will begin when your local utility switches your account to XOOM and will continue on a month-to-month basis as set forth in the accompanying Product Sheet.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Contract Term The period of Contractor's performance shall begin on November 1, 2018 and end on October 31, 2019 with an option to renew for an additional three (3) twelve (12) month periods.

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Optional Termination The termination of the Trust Fund created hereunder as a result of the purchase of all of the Mortgage Loans and any REO Property pursuant to the last sentence of Section 10.01 hereof.

  • Additional Terms None B-1

  • Term of Services The term of this Agreement shall begin on the Effective Date and shall end on , the date of completion specified in Exhibit A, and Consultant shall complete the work described in Exhibit A on or before that date, unless the term of the Agreement is otherwise terminated or extended, as provided for in Section 8. The time provided to Consultant to complete the services required by this Agreement shall not affect the City’s right to terminate the Agreement, as referenced in Section 8.

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