Commercial Operation Payment definition

Commercial Operation Payment means an amount equal to the Total Compensation Amount divided by the sum of Delivery Period in years plus one. For example, a seven-year Delivery Period would receive eight equal payments: the first payment at the Commercial Operation Date (“COD”) and each successive payment at the end of each Contract Year.
Sample 1Sample 2Sample 3
Commercial Operation Payment means an amount equal to seventy percent (70%) of the Total Compensation Amount.
Sample 1Sample 2Sample 3
Commercial Operation Payment means a percentage of the Total Compensation Amount equal to: 1/(number of years agreed to as the Delivery Period +1). Subject to the terms of this Agreement, such amount shall be payable to the Owner upon satisfactory performance of the conditions listed in Section 2.07 (a)-(i).
Sample 1Sample 2

Examples of Commercial Operation Payment in a sentence

  • At all times during the Contract Term, Owner shall post on or before the first Calendar Day of each Contract Year, and thereafter maintain during the Contract Year, Performance Assurance in an amount not less than (i) during the first Contract Year, the Commercial Operation Payment and (ii) during each subsequent Contract Year, the Commercial Operation Payment multiplied by (y) the number of remaining Contract Years and divided by (z) the number of Contract Years in the Delivery Period.

  • At all times during the Contract Term, Owner shall post on or before the first day of each Contract Year, and thereafter maintain during the Contract Year, Performance Assurance in an amount not less than (i) during the first Contract Year, the Commercial Operation Payment and (ii) during each subsequent Contract Year, the Commercial Operation Payment minus the product of (y) one-seventh of the amount of the Commercial Operation Payment multiplied by (z) the number of completed Contract Years.

  • Within twenty (20) Business Days of receiving an invoice from Owner for the Commercial Operation Payment, CHGE shall make payment of all amounts invoiced by Owner for the Commercial Operation Payment.

  • No later than five (5) Business Days after the Commercial Operation Date, Owner shall deliver an invoice to CHGE setting forth in reasonable detail the amount of the Commercial Operation Payment.

  • CHGE shall be obligated to pay to Owner the Commercial Operation Payment after Owner achieves Commercial Operation of the Project.

  • If the Commercial Operation Date is not achieved by the Commercial Operation Deadline, then the Commercial Operation Payment shall be reduced in accordance with Schedule 6.3, and such reduction shall constitute liquidated damages.

  • Any document or instrument of any and every nature, including without limitation any agreement, contract, deed, promissory note, mortgage or deed of trust, security agreement, financing statement, pledge, assignment, bill of sale and certificate, which is intended to bind the Company or xxxvey or encumber title to its real or personal property shall be valid and binding for all purposes only if executed by an officer or Manager of the Company so authorized by the Board of Managers.

  • An SRP can be defined as, ‘a mainstream school teaching space where places are reserved for children who have a specific type of SEND which requires an Education, Health and Care Plan (EHCP), and who are taught mainly within mainstream classes, but require a base and some specialist facilities within, the school concerned’.

  • The Contractor may request payment of Milestone Payment 1: Commercial Operation Payment (70% of the Total Incentive) upon submission to and approval by NYSERDA of documentation sufficient to demonstrate that the system has achieved Commercial Operation.

  • No later than five (5) Business Days after the Commercial Operation Date, Owner shall deliver an invoice to O&R setting forth in reasonable detail the amount of the Commercial Operation Payment.


More Definitions of Commercial Operation Payment

Commercial Operation Payment means the Payment to be made in connection with the occurrence of the Commercial Operation Date, subject to the terms and requirements of Section 2.2.1 and Schedule 2.2.1.
Sample 1Sample 2
Commercial Operation Payment means the Payment to be made in connection with the occurrence of the Commercial Operation Date, subject to the terms and requirements of Section II.2.1 and Schedule 2.2.1.
Sample 1

Related to Commercial Operation Payment

  • Commercial Operation Date means the date on which a Material Project is substantially complete and commercially operable.

  • Commercial Operation means the condition of operation in which the complete equipment covered under the Contract is officially declared by the Owner to be available for continuous operation at different loads up to and including rated capacity. Such declaration by the Owner, however, shall not relieve or prejudice the Contractor of any of his obligations under the Contract.

  • Commence commercial operation means, with regard to a unit that serves a generator, to have begun to produce steam, gas, or other heated medium used to generate electricity for sale or use, including test generation subject to the following:

  • Guaranteed Commercial Operation Date has the meaning set forth in Section 3.9(c)(i).

  • Date of Commercial Operation or “COD” means

  • Incremental Operating Costs means the incremental expenses incurred by the Recipient’s implementing agencies on account of Project implementation, management, and monitoring, including office space rental, utilities, and supplies, bank charges, communications, advertising, vehicle operation, maintenance, and insurance, building and equipment maintenance costs, travel and supervision costs, and salaries of supporting staff, but excluding salaries of officials of the Recipient’s civil service.