Commercial Operation Delay Damages definition

Commercial Operation Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b) sixty (60).

Commercial Operation Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b) ninety (90).

Commercial Operation Delay Damages has the meaning set forth in Section 1.1 of the

Examples of Commercial Operation Delay Damages in a sentence

• The Contract consists of the Request for Proposals, including all Addenda, Vendor’s Proposal that is satisfactory to the District, notice of contract award and the service agreement.

• On or before the tenth (10th) day of each month, Buyer shall invoice Seller for Commercial Operation Delay Damages, if any, accrued during the prior month.

• If Seller fails to timely pay any Daily Delay Damages or Commercial Operation Delay Damages, Buyer may draw upon the Development Security to satisfy Seller’s payment obligation thereof, and Seller shall replenish the Development Security to its full amount within five (5) Business Days after such draw.

• If Seller fails to timely pay any Daily Delay Damages or Commercial Operation Delay Damages, Buyer may draw upon the Development Security to satisfy Seller’s payment obligation thereof.

• Seller shall maintain the Collateral Requirement in full force and effect throughout the Contract Term and Seller shall replenish the Collateral Requirement to the initial amount within five (5) Business Days in the event Buyer collects or draws down any portion of the Collateral Requirement for unpaid Construction Start Delay Damages, Commercial Operation Delay Damages, or for any reason permitted under this Agreement other than to satisfy a Damage Payment or a Termination Payment.

More Definitions of Commercial Operation Delay Damages

Commercial Operation Delay Damages or “COD Delay Damages” means an amount equal to (a) the Development Security amount required hereunder, divided by (b) sixty (60).

Commercial Operation Delay Damages are equal to [$XXX/day, which is equal to the Development Security divided by 90]. Commercial Operation Delay Damages shall be paid for each day of delay and shall be paid to Buyer in advance on a monthly basis. A prorated amount will be returned to Seller if Commercial Operation is achieved during the month for which Commercial Operation Delay Damages were paid in advance. Failure to achieve COD within ninety (90) days of the Guaranteed Commercial Operation Date shall constitute an Event of Default, and Buyer shall have the right, in its sole discretion, to terminate the PPA and retain the Development Security.

Commercial Operation Delay Damages means an amount equal to

Commercial Operation Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b)

Commercial Operation Delay Damages or “COD Delay Damages” means an amount equal to [$x/day] that is the result of (a) the Development Security amount required hereunder, divided by (b) sixty (60).

Commercial Operation Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b) one-hundred eighty (180).

Commercial Operation Delay Damages are equal to [$XXX/day, which is equal to the Development Security divided by 90]. Commercial Operation Delay Damages shall be paid for each day of delay and shall be paid to Buyer in advance on a monthly basis. A prorated amount will be returned to Seller if Commercial Operation is achieved during the month for which Commercial Operation Delay Damages were paid in advance. Failure to achieve COD within ninety (90) days of the Guaranteed Commercial Operation Date shall constitute an Event of Default, and Buyer shall have the right, in its sole discretion, to terminate the ESA and retain the Development Security.