Completion Test Period definition

Completion Test Period means a period of no less than ninety (90) consecutive days (i) commencing on a date specified by the Borrower that is on or after the 9 NYDOCS02/1023777.17Midway Gold – Pan Gold Project – Credit Agreement Mechanical Completion Date and (ii) concluding no later than the Economic Completion Longstop Date; provided that the Completion Test Period cannot commence until:
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Completion Test Period is a period of 100 continuous days during which the Borrower’s production facilities operate for 90 days or more, ending on or before the Limit Completion Date, provided that downtime of up to 240 hours during this period will not require the test to be restarted. The Completion Test shall be prospective in nature; the Borrower shall inform the Technical Agent and Independent Engineer at least 15 days prior to start of the scheduled test. The Independent Engineer shall be on site for the commencement and scheduled completion of the Completion Test, with further visit mid-way through the Completion Test Period as deemed appropriate by the Independent Engineer and the Technical Agent. The Completion Test may be stopped at the discretion of the Borrower and restarted at any point, with the approval of the Technical Agent and the Independent Engineer which shall not be unreasonably withheld, prior to the Limit Completion Date. Should a stopped Completion Test be restarted then a new prior notification to the Technical Agent and Independent Engineer shall be required. Satisfaction of the Completion Test shall require delivery of the completed certifications in the forms attached as Appendix B-1 through Appendix B-6 to the Completion Agreement. The Technical Agent shall receive certificates B-1 through B-4 and B-6 in accordance herewith. Certificate B-5 shall be delivered directly to the Administrative Agent. Upon receipt and review of certificates B-1 through B-4 and B-6, the Technical Agent shall deliver the certificates to the Administrative Agent together with a notification of its conclusions as to whether the relevant documentary components of the Completion Test have been satisfied. In performing the Completion Test, the Borrower will conduct the required sampling and assaying in accordance with standard international mining practices. All weight measures referred to in certificates submitted in connection with the Completion Test will be on a dry basis. Measurement of moisture content will be made to adjust the weightometer and other records to a dry basis. The sampling locations and laboratory assay procedures will be verified by the Independent Engineer. In cases where a materiality assessment is required, the Technical Agent, acting on behalf of the Secured Parties, may determine in concert with the Independent Engineer and the Borrower appropriate materiality thresholds. During the Completion Test Period, the Borrower shall operate the Project in acc...
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Completion Test Period the meaning given to such term in the Full Completion Production Certificate or the Partial Completion Production Certificate, as the case may be.
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Examples of Completion Test Period in a sentence

  • The Purchaser shall be entitled to have representatives present during any Completion Test in accordance with Section 7.5. Solely with respect to the Completion Tests contemplated in Section 5.2, no Completion Test Period may overlap with another Completion Test Period.

  • The Borrower may elect (i) to continue the current Scenario 1 Completion Test Period 955371732 258 then in effect, which shall be extended to 90 consecutive days in accordance with, and results will be tested against the thresholds of, Scenario 2, or (ii) to recommence the Completion Test Period in accordance with Scenario 2.

  • Not less than fifteen (15) Business Days prior to the proposed commencement of any Capacity Test Period or of any Operational Completion Test Period, the Borrower shall notify the Senior Lenders’ Consultants and the Intercreditor Agent, in writing, of the proposed date on which the relevant Capacity Test Period or Operational Completion Test Period (as the case may be) will commence.

  • If at any time during the Completion Test Period (as defined in Scenario 1, paragraph (a) below) the Loans outstanding under the Facility exceed $150,000,000, then Scenario 2 shall apply.

  • There are no indications of a mechanical failure of any Well or any material failures subsisting at any ▇▇▇▇▇ at the conclusion of any Operational Completion Test Period.


More Definitions of Completion Test Period

Completion Test Period is a period of 100 continuous days, ending on or before December 31, 2008 (the “Limit Completion Date”), during which the Borrower’s production facilities operated for 90 days or more, provided that downtime of up to 240 hours during this period will not require the test to be restarted.
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Completion Test Period has the meaning set forth in Appendix B to the Completion Agreement.
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Related to Completion Test Period

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Relevant Test Period With respect to any Loan, the relevant test period for the calculation of Net Senior Leverage Ratio, Net Total Leverage Ratio, Cash Interest Coverage Ratio or EBITDA as applicable, for such Loan in accordance with the related Underlying Instruments or, if no such period is provided for therein, (i) for Obligors delivering monthly financial statements, each period of the last twelve (12) consecutive reported calendar months, and (ii) for Obligors delivering quarterly financial statements, each period of the last four (4) consecutive reported fiscal quarters of the principal Obligor on such Loan; provided that with respect to any Loan for which the relevant test period is not provided for in the related Underlying Instruments, if an Obligor is a newly-formed entity as to which twelve (12) consecutive calendar months have not yet elapsed, “Relevant Test Period” shall initially include the period from the date of formation of such Obligor to the end of the twelfth (12th) calendar month or fourth (4th) fiscal quarter (as the case may be) from the date of formation, and shall subsequently include each period of the last twelve (12) consecutive reported calendar months or four (4) consecutive reported fiscal quarters (as the case may be) of such Obligor.

  • Final Completion Date means the date on which Final Completion occurs.

  • Project Completion Date means the date on which the Completion Certificate is issued;