Commercial Readiness definition
Examples of Commercial Readiness in a sentence
Commercial Readiness Deposit shall mean a deposit paid in lieu of submitting evidence of a Commercial Readiness Milestone Option.
Transmission Provider will refund the Commercial Readiness Deposit in accordance with Sections 13.3.2 and 13.3.3 of this LGIP.
Such Commercial Readiness Deposits made in lieu of an Interconnection Customer providing evidence of Commercial Readiness Milestone Options under Sections 6.6.1(a)-(f) and 7.5.1(a)-(e) are not subject to interest on any unspent amount.
Transmission Provider will refund the Commercial Readiness Deposit to Interconnection Customer according to Sections 13.3.2 and 13.3.3 of this LGIP.
No payment shall be due under this Section 7.2 if this Agreement is terminated prior to the date of achievement of, in the case of Section 7.2.1, NDA Approval, or in the case of Section 7.2.2, Commercial Readiness.
Commercial Readiness Deposits shall be made in the form of a cash deposit, irrevocable letter of credit, or deposit into an escrow account that is established by Interconnection Customer.
Such refundable portion of Commercial Readiness Deposits made in lieu of an Interconnection Customer providing evidence of Commercial Readiness Milestone Options under Sections 6.6.1 and7.5.1, Transmission Provider shall be for any unspent amount, without interest.
Any refunds of Commercial Readiness Deposits shall also be made in accordance with Section 13.3.3 below.
Licensee shall use its Commercially Reasonable Efforts to undertake the Commercial Launch of the Initial Products within [* * *] months of Commercial Readiness.
Transmission Provider shall also refund any portion of the Commercial Readiness Deposit not applied to the Withdrawal Penalty and, if applicable, the deposit in lieu of site control.