Commercial Operation Milestone means the date set forth for the Commercial Operation Milestone specified in Exhibit B-Construction Milestones.
Commercial Operation Milestone the Major Milestone for the Commercial Operation Date. The Commercial Operation Milestone is specified in Exhibit C, subject to the provisions of this Agreement for extensions and modifications. “Commercial Operation Year” – any consecutive twelve (12) month period, during the Term of this PPA, commencing at 12:01 a. m. on the first day of the first month following the last Commercial Operation Date and ending at 11:59 p. m. on the last Day of the corresponding calendar month or any anniversary thereof.
Commercial Operation Milestone means ; provided that the Commercial Operation Milestone shall be extended Day-for-Day for each Day that Seller is prevented from achieving the Commercial Operation Date as a result of Force Majeure; and/or provided that notwithstanding the foregoing or anything else expressed or implied herein to the contrary, in no event will the aggregate number of Day-for-Day extensions of the Commercial Operation Milestone exceed an aggregate of 365 Days.
Examples of Commercial Operation Milestone in a sentence
The Commercial Operation Milestone Date shall be as stated in Schedule 2 of this Agreement.
Seller may elect to extend the Commercial Operation Milestone Date pursuant to Article XV.
Such amount that will be returned, expressed as a percentage of the total Contract Security, will be equal to Bid Capacity of the Bid Facility that enters Commercial Operation on or before the Commercial Operation Milestone Date divided by the Bid Capacity of the Bid Facility described in the Bid Proposal.
Such report shall be filed with NYSERDA within sixty (60) days of each anniversary of the Commercial Operation Milestone Date.
In its entirety if the Bid Capacity of the Bid Facility that enters Commercial Operation on or before the Commercial Operation Milestone Date is equal to or greater than the Bid Capacity of the Bid Facility described in the Bid Proposal.
More Definitions of Commercial Operation Milestone
Commercial Operation Milestone. Has the meaning set forth in Section 4.3(b)(iv).
Commercial Operation Milestone means the Project becoming Commercially Operable on or before the Commercial Operation Deadline.
Commercial Operation Milestone means the Construction Milestone for the Commercial Operation Date. The Commercial Operation Milestone is specified in Exhibit A as December 31, 2015.
Commercial Operation Milestone the Major Milestone for the Commercial Operation Date. The Commercial Operation Milestone is specified in Exhibit C, subject to the provisions of this Agreement for extensions and modifications.
Commercial Operation Milestone means the Construction Milestone for the Commercial Operation Date. The Commercial Operation Milestone is specified in Exhibit A as no sooner than November 30, 2014 and no later than December 31, 2015.
Commercial Operation Milestone means the Project becoming Commercially
Commercial Operation Milestone. “Commercially Operable” means, with respect to the Facility, a condition occurring after such time as mechanical completion has occurred, commissioning is complete, the Facility has been released by the EPC contractor to Seller for commercial operations, and permission to operate has been formally obtained from the applicable transmission or distribution utility If Seller anticipates that it will not be able to timely satisfy a Critical Milestone or the Commercial Operation Milestone, Seller shall submit to Buyer no later than thirty (30) days prior to the relevant deadline a remedial action plan (“Remedial Action Plan”), which will describe in detail the actual delay, any anticipated delay beyond the scheduled deadline, the cause of the delay, and Seller’s proposed course of action to achieve the missed deadline, any subsequent Critical Milestones, and the Commercial Operation Date by the Expected Commerical Opeation Date. So long as Seller complies with its obligation to deliver a Remedial Action Plan, Seller shall not be considered in default of its obligations under the Agreement solely as a result of failing to timely satisfy a Critical Milestone. In the event Seller misses any Critical Milestones and cannot reasonably demonstrate a plan for completing the Facility by the Guaranteed COD, Buyer shall have the right to terminate the PPA and retain the Development Security as damages, in addition to any other remedies it may have at law or equity. Expected Commercial Operation Date: Seller reasonably expects to achieve Commercial Operation by the following date [_______] (the “Expected Commercial Operation Date”).