Operational Term Sample Clauses

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
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

Related to Operational Term

  • Original Term The weighted average original term for the Receivables is at least 65 months.

  • 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.

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

  • Contract Term The Contract end date, wherever such reference appears in the Contract, shall be changed from June 18, 2020 to June 18, 2021. The Contract Term may be renewed for one additional one-year period at the discretion of the State. Child Support (Applicable to natural persons only; not applicable to corporations, partnerships or LLCs). Contractor is under no obligation to pay child support or is in good standing with respect to or in full compliance with a plan to pay any and all child support payable under a support order as of the date of this amendment.

  • Renewal Periods Renewal of registered names may be made in one (1) year increments for up to a maximum of ten (10) years. For the avoidance of doubt, renewal of registered names may not extend their registration period beyond ten (10) years from the time of the renewal.

  • 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.

  • CONTRACT RENEWAL PERIOD FURNITURE ADDITIONS/DELETIONS: Contractors wishing to make furniture additions/changes to their contract during the contract period should be aware of the following additions/changes will be allowed only once during a contract period. No changes to discount percentages are allowed during this contract period. Additions/changes must be submitted during the contract renewal period. When requesting additions and/or changes; contractor shall submit a request either by letter or via email which shall include a list of all items being proposed for addition and/or change. Contractor shall submit all required documents supporting any new items. Product literature for all new items shall also be submitted with the request. Contractor is responsible for submitting a complete name, address, email address, phone and fax numbers when a new dealer is added.

  • Meal Period Employees shall receive a meal period which shall commence no less than two (2) hours nor more than five (5) hours from the beginning of the employee's regular shift or when the employee is called in to work on their regular day off. The meal period shall be no less than one-half (½) hour nor more than one (1) hour in duration and shall be without compensation. Should an employee be required to work in excess of five (5) continuous hours from the commencement of their regular shift without being provided a meal period, the employee shall be compensated two (2) times the employee's straight-time hourly rate of pay for the time worked during their normal meal period and be afforded a meal period at the first available opportunity during working hours without compensation.

  • 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.

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