Project Milestone a. The Concessionaire shall construct the Project in accordance with the Project Completion Schedule set forth in Schedule – 6 of the Agreement.
b. In the event that any of the Project Milestone is not achieved for any reason other than Force Majeure or reasons attributable to the Concessioning Authority or any Competent Authority, the Concessionaire shall, subject to clause below, pay to the Concessioning Authority damages for delay beyond the date on which the Construction Completion was due to the extent of 0.05% of the performance security per day for every day of delay or part thereof until Project Milestone is achieved. Provided that nothing contained in this paragraph shall be deemed or construed to authorize any delay by the Concessionaire in achieving Project Milestone.
c. In the event that Project Milestone does not occur within 120 (one hundred and twenty) days from the date on which the Project Milestone was due, the Concessioning Authority shall be entitled to invoke the Performance Security and to terminate the Agreement on account of Concessionaire Event of Default. Provided that instead of terminating the Concession Agreement, the Concessioning Authority may at its sole option extend the time for achieving Project Milestone on such terms and conditions as it deem fit in its sole discretion.
Project Milestone. 4 Stage 1 All elements of Project Milestone 4 are completed to the reasonable satisfaction of the Department. 30 May 2014 Complete $4,000,000 Paid
4.1 Implement the recommended GIS solution for individual licence holders and flood control works Copy of database and shape files.
4.2 State completes flood behaviour investigation for the Gwydir Valley Wide Floodplain Management Plan. Report on outcomes of the flood behaviour investigation for the Gwydir Valley.
4.3 State completes scoping studies to prepare Valley Wide Floodplain Management Plans for the Barwon Darling and Macquarie valleys. Scoping studies for the Barwon Darling and Macquarie valleys.
4.4 State announces invitations for Expressions of Interest (EOI) for floodplain harvesting licensing in Barwon Darling and Macquarie valleys. Copy of public announcement of EOI in Barwon Darling and Macquarie valleys.
4.5 State provides Progress Report to the Department. Progress Report as per item I.2.1.
Project Milestone. 6 Stage 1 All elements of Project Milestone 6 are completed to the reasonable satisfaction of the Department. 7 April 2015 Complete $4,000,000 Paid (comprising a payment of $3,638,715 in addition to the use of $361,285 Interest held by the State as per Item D.2.2)
6.1 State develops draft Monitoring Strategy outline Outline of draft Monitoring Strategy provided
6.2 State develops a draft Strategy for Procurement of Monitoring Systems Draft Procurement Strategy provided
6.3 State completes floodplain behaviour investigations for the Namoi and Border Rivers Valley Wide Floodplain Management Plans. Report on outcomes of the flood behaviour investigation for the Namoi Valley and Border Rivers.
6.4 States advertises draft Valley Wide Floodplain Management Plan for Gwydir Valley. Copy of draft Valley Wide Floodplain Management Plan for Gwydir Valley.
6.5 State endorses draft Upper Namoi Valley wide Floodplain Management Plan for consultation. Report that endorses Floodplain Management Plan consultation
6.6 State determines expected draft floodplain harvesting extraction limits and individual volumetric entitlements for the Gwydir Valley. Statement advising the expected extraction limits and individual volumetric entitlements.
6.7 State establishes arrangements to implement licensing of floodplain harvesting licences, including the legal framework necessary for licensing to operate. A Report that demonstrates that these arrangements have been established.
6.8 State commences to develop processes that enable issuance of floodplain harvesting licences and work approvals in accordance with the WMAct 2000. Report that demonstrates that these processes have commenced.
6.9 State completes property inspections and stakeholder consultation in the Border Rivers valley. Report on outcomes of inspections for the Border Rivers valley. Project Milestone Number Project Milestone Indicator / Evidence Due Date Payment Value 6.10 State commences property inspections and stakeholder consultation in the Macquarie River valley. Report on the status of inspections for the Macquarie River valley.
Project Milestone. Supplier shall provide a geophysical or geological exploration plan on the geothermal resource which would define the geothermal resource. Such plan shall specify start and completion dates of the geophysical or geological exploration work.
Project Milestone. Supplier shall obtain all permits, licenses, easements and approvals to construct and operate the Generating Facility, including UEPA permit.
Project Milestone. Supplier shall demonstrate to Buyer that it has obtained adequate water rights for the operation of the Generating Facility.
Project Milestone. Notice to proceed has been issued to the construction contractor under the turnkey engineering, procurement and construction contract (the “EPC Contract”) for the Generating Facility and construction of the Generating Facility has commenced. Completion Date: [THIS INFORMATION HAS BEEN REDACTED] Documentation: Supplier shall provide Buyer a copy of the executed Notice to Proceed acknowledged by the construction contractor and documentation from qualified professionals which indicates that work has begun regarding the engineering, procurement and construction of the Generating Facility.
Project Milestone. 5 Stage 1 All elements of Project Milestone 5 are completed to the reasonable satisfaction of the Department. 14 June 2014 Complete $4,000,000 Paid
5.1 State commences field testing trial of competing dam storage measurement devices Progress report on the evaluation of the measurement devices field testing trial.
5.2 State commences development of strategy to meter/measure floodplain diversions. Copy of the draft strategy to meter/measure floodplain diversions.
5.3 State completes stakeholder consultation and property inspections for Gwydir Valley. Report on outcomes of inspections for Gwydir Valley.
5.4 State provides updated GIS database including gathered information on individual licence holders and flood control works. Updated GIS database.
5.5 State provides Progress Report to the Department Progress Report as per item I.2.1
Project Milestone. Supplier shall complete the drilling and testing of the initial production xxxxx, which shall deliver hot water sufficient to demonstrate a viable geothermal resource with a minimum net capacity of 18.75 MW. Xxxxx are to have flowed for a test period of 48 continuous hours or until stabilization occurs. Stabilization shall be considered met when the flow rate and temperature at the end of any 8-hour continuous period shall not be less than 98% of the first hour of the 8-hour period. Supplier shall provide Buyer pursuant to Section 29 (Notices) of this Agreement with written notification 48 hours prior to conducting such drilling and testing, but shall provide such notice with as much advance notice as practicable.
Project Milestone. Supplier's major equipment shall be delivered to the Generating Facility's construction site. Completion Date: Sixteen (16) months after Notice to Proceed has been issued to the construction contractor under the EPC Contract.
