Common use of Termination Payment Prior to Commercial Operation Date Clause in Contracts

Termination Payment Prior to Commercial Operation Date. If the Early Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(a). (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to CHGE and shall equal the Development Security, plus any interest accrued thereon. CHGE shall be entitled to retain all funds held as Development Security and any interest accrued thereon. There will be no amounts owed to Owner. (ii) If CHGE is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Early Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.

Termination Payment Prior to Commercial Operation Date. If the Early Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(a). (i) . If Owner is the Defaulting Party, then the Termination Payment shall be owed to CHGE and shall equal the Development Security, plus any interest accrued thereon. CHGE shall be entitled to retain all funds held as Development Security and any interest accrued thereon. There will be no amounts owed to Owner. (ii) . If CHGE is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Early Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.

Termination Payment Prior to Commercial Operation Date. If the Early Termination Date occurs before the Commercial Operation Date, then the Termination Payment shall be calculated in accordance with this Section 10.3(a).10.03(a).‌ (i) If Owner is the Defaulting Party, then the Termination Payment shall be owed to CHGE CECONY and shall equal the Development Security, plus any interest accrued thereon. CHGE CECONY shall be entitled to retain all funds held as Development Security and any interest accrued thereon. There will be no amounts owed to Owner.Owner.‌ (ii) If CHGE CECONY is the Defaulting Party, then the Termination Payment shall be owed to Owner and shall equal the sum of the actual, documented and verifiable costs incurred by Owner between the Effective Date and the Early Termination Date in connection with the Project, less the fair market value (determined in a commercially reasonable manner) of (A) the individual assets acquired by Owner for the Project, or (B) the entire Project, whichever is greater, regardless of whether or not any Owner asset or the entire Project is actually sold or disposed of.