Operations Term. Upon the expiration of the Construction Term, the term of this Agreement shall automatically extend for an additional twenty-five (25) year term (the “Operations Term”).
Operations Term. Lessee shall have the right to extend the Lease to provide for operation of the Solar Facility (the “Operations Term”). The Operations Term shall commence on the date specified in a written notice to Lessor that Lessee elects to initiate the Operations Term as of a date so specified in such notice, or the date the Lessee determines the Solar Facility is capable of commercial operations, whichever shall occur earlier. The Operations Term shall be for an initial period of twenty-five (25) years from the date such Solar Facility begins commercial operation (the “Commercial Operations Date”). Lessee shall have the unilateral right to extend the Operations Term for two (2) additional five (5) year periods on the same terms herein upon written notice to the Lessor. Lessee shall have the unilateral right to terminate this Lease at any time during the Operations Term without penalty, subject to the removal obligations in Exhibit B, Section B-6(g), upon written notice to Lessor; provided, however, that in the event of such termination, the Lessor is entitled to retain all payments made by Lessee prior to the date of such termination.
Operations Term. On the date that the Project has satisfied all conditions required for commercial delivery of energy, as set forth in the Project’s power purchase agreement (the “Operations Commencement Date”), then without any further action by the Parties, the Development Term shall end and the Term of this Lease will be automatically extended for a twenty (20) year period commencing on the Operations Commencement Date (the “Operations Term”). Tenant shall deliver notice to Landlord of the Operations Commencement Date within ten (10) days of such date.
Operations Term. Provided that Xxxxxx has not fully surrendered or terminated this Lease and is not in default hereunder, then upon the expiration of the Development Term, the term of this Lease shall automatically extend for an additional term of ( ) years (the “Operations Term”).
Operations Term. The Operations Date shall be the date on which Grantee begins selling electrical energy generated by substantially all of the Solar Generating Equipment to be included in the Project to a third party power purchaser (as declared by Grantee, the “Operations Date”. Grantee shall notify Owner of the Operations Date. Upon the expiration of the Development Term, the term of this Agreement shall automatically extend for an additional twenty-five (25) year term (the “Operations Term”).
Operations Term. The Operations Period shall continue in effect for twenty (20) years, commencing on the final Acceptance Date for the entire wastewater system or all of the Wastewater Facilities and ending on the date that is twenty (20) years thereafter (the "Initial Term") or, if renewed at the option of the Village as provided in Section 4.3, this Agreement shall remain effective until the last day of the renewal term (the "Renewal Term") (the Initial Term and any Renewal Term being referred to herein as the "Term"). The Village and Company shall confirm the Acceptance Date of all Wastewater Facilities and the commencement date and expiration date of the Initial Term pursuant to a certificate substantially in the form attached hereto as Appendix 21 within ten (10) days following the final Acceptance Date, and such fully executed certificate shall become a part of this Agreement and be incorporated herein by reference. If this Agreement is terminated earlier pursuant to the termination provisions under Article XIV, however, the Term shall be deemed to have ended as of the date of such termination. At the end of the Term, all obligations of the parties hereunder shall terminate, except for any provisions which expressly survive the expiration or earlier termination of this Agreement.
Operations Term. The “Operations Term” means the period starting on the earlier of (a) Company’s notice to Owner of the start of the Operations Term, (b) the date that is twelve (12) months after the Construction Start Date, or (c) COD and continuing thereafter until the date that is thirty (30) years after this date.
Operations Term. The “Operations Term” will commence on the day specified by Tenant in a written notice to Landlord (“Operations Notice”) that the Hydrogen Project will commence operations, as measured by the date the Hydrogen Project’s hydrogen production equipment is officially commissioned to begin the production of hydrogen and the Hydrogen Project has been operating fully for ten (10) continuous days at a minimum of eighty percent (80%) of its nameplate capacity) (the “Operations Date”) and will continue until the date that is twenty seven (27) years from the Operations Date. Tenant will have the right to conditionally extend the Operations Term, as set forth in Section 2.1 and Table 1, for six (6) separate and successive terms of five (5) years (each, an “Operations Term Extension”) which shall expire at the end of such applicable Operations Term Extension, unless further extended. At any time during the Operations Term with written notice to the Landlord, the Tenant reserves the right to terminate this Lease in accordance with Section 16.1. In accordance with Section 3.3, Tenant shall pay to Landlord one or more non-refundable rent payments, (the “Operations Rent”) associated with use of the Leased Premises during the Operations Term and any Operations Term Extension. During the Operations Term, the Tenant shall have exclusive possession of the Leased Premises, the right to do all things necessary to operate the Hydrogen Project on the Leased Premises and to exercise its other rights under this Lease.
Operations Term. Upon the expiration of the Development Term, the term of this Agreement shall automatically extend for an additional term of twenty (20) years (the “Operations Term”). If the Operations Term does not commence within two (2) years of the Effective Date of this Agreement, or such later date as Owner or Grantee shall mutually agree, Owner, at its sole option, may terminate this Agreement and Owner and Grantee shall thereafter be released and discharged from all obligations hereunder.
