Project Development Costs. The costs and expense of the Project Development Activities shall be borne and paid by the parties as follows:
Project Development Costs. UBC and Corix have developed an Infrastructure Agreement to define the roles and responsibilities of relevant parties. As a part of the financial submission, Corix and UBC will submit each of their project development costs. These include engineering, financial, legal, consultation and regulatory costs spent by both to move the project to the implementation and construction stage. These project development costs are approximately 1.5% of total project capital costs. The project development costs have been capitalized and amortized over 30 years, being the contract term to which they relate.
Project Development Costs. Once Renewable identifies a Subject Project and starts pursuing the development of such Subject Project (or commences the development of a Subject Project identified by Global), Renewable shall track all of the third party costs and all of Renewable’s out-of-pocket expenses (the “Project Development Costs”) incurred in connection with pursuing, evaluating and developing the Subject Project until the development of the Subject Project is completed.
(i) Subject Projects Identified by Renewable. Global and Renewable shall be responsible to fund the Global Percentage and the Renewable Percentage, respectively, of the Project Development Costs incurred for each Subject Project identified by Renewable. Promptly following the execution of an Equity Commitment Letter for a Subject Project that is identified by Renewable, Global shall reimburse Renewable for a portion of the Project Development Costs that Renewable has incurred through the date of the Equity Commitment Letter, such amount to be determined by multiplying the total Project Development Costs incurred through such date by the Global Percentage. Renewable shall provide a schedule of the Project Development Costs incurred to date to Global together with copies of all the third party invoices and any significant out-of-pocket costs. Thereafter, Global and Renewable (and Covanta if it has also agreed to participate in the Project) shall fund its share of the monthly estimate of the Project Development Costs, in advance, such amount to be reconciled following the end of each month by Renewable. If either Party (the “Failure to Fund Party”) fails to fund its full agreed share of the Project Development Costs on the required schedule and does not cure such funding default within ten (10) days following the receipt of a written notice to cure such funding default by the other Party, then, unless the other Party agrees otherwise in its sole discretion, the Failure to Fund Party shall forfeit its right to fund any of the equity for the Subject Project and shall only be entitled to receive a reimbursement of the Project Development Costs it has funded through the date of such forfeiture at the time that the Purchase Order for the Subject Project is issued by the Project Company formed for such Subject Project.
Project Development Costs. 4.1 The Parties agree that, once raised, the Project Funding will be used to advance the Project over the next one to three years, and specifically, within such timeframe, to advance two pilot demonstrations:
a) Power-to-Gas (approx. CAD $24 million): create a state of the art demonstration of multi-megawatt grid-connected and a dynamically controlled Power-to-Gas system and energy storage, including demonstration and evaluation of underground geologic reservoirs for storage of hydrogen gas; and
b) Sustainable Energy Centre (approx. CAD $12 million): Establish a multi- purposes clean technology centre in Xxxxx County, which will: Create a manufacturing centre for hydrogen-based energy systems; Create a training centre for clean energy and hydrogen technologies; Build capacity to achieve energy self-sufficiency for First Nation communities, including energy autonomy for off-grid remote communities using hydrogen technologies; and Position Xxxxx County as a centre for development and early-adoption of hydrogen technologies.
Project Development Costs. Services provided by SOLITEK on the CUSTOMER‘s instructions in the course of project development or preparation are, in principle, in return for payment. This relates, for example, to grant applications to the competent authorities or detailed technical plans, particularly module drawings, inverter designs and simulations.
Project Development Costs. Within seven (7) days of the Effective Date of this Agreement, the Company shall make a one-time payment to the Authority of $25,000, which payment represents the Project Development Costs associated with the administration and development of the RFP.
Project Development Costs. Project development costs include costs for professional services, permits and other items that are incurred incidental to a particular project. The Company expenses these costs as incurred until the project is considered probable. After a project is considered probable, capitalizable costs incurred are capitalized to the project. When project operations begin, the Company begins to amortize these costs on a straight-line basis over the life of the facility. As of December 31, 1999 and 2000, the Company had recorded in the Company's Consolidated Balance Sheets project development costs of $3 million and $7 million, respectively.
Project Development Costs. Within the time set forth in the Schedule of Performance, Developer shall design and construct the Project upon the Parcel at Developer’s sole cost and expense, unless otherwise agreed in writing by the City in its sole discretion. Without limiting the generality of the foregoing, Developer hereby agrees that all costs associated with negotiating the ENA, this Agreement and the Other Agreements, Close of Escrow for each Phase and planning, designing, constructing, marketing and leasing the Project, preparing the Parcel and constructing all Improvements thereon including all hard costs, soft costs, the cost of services, fees, exactions, dedications, cost overruns, profit, overhead, consultants’ fees, legal fees, wages required to be paid to any person employed by Developer, any Transferee, contractor or subcontractor, and the costs of the Project Fair Share Contribution (collectively, the “Development Costs”), shall be the responsibility of Developer without any cost or liability to the City other than as set forth in the Updated Financing Plan for Phase II approved by the City pursuant to Section 4.6.2(a) with respect to the City Loan.
