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.

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Commercial Operation Payment means an amount equal to seventy percent (70%) of the Total Compensation Amount.

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).

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.
RG&E shall be obligated to pay to Owner the Commercial Operation Payment after Owner achieves Commercial Operation of the Project.
No later than five (5) Business Days after the Commercial Operation Date, Owner shall deliver an invoice to CECONY setting forth in reasonable detail the amount of the Commercial Operation Payment.
No later than five (5) Business Days after the Commercial Operation Date, Owner shall deliver an invoice to RG&E setting forth in reasonable detail the amount of the Commercial Operation Payment.
The Contractor may request payment of Milestone Payment 1: Commercial Operation Payment (certain percentage of the Total Incentive) upon submission toand 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 NYSEG 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

Commercial Operation Payment means an amount equal to (a) the Total Compensation Amount; divided by (b) sixteen (16).

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.