Critical Asset definition

Critical Asset means facilities, systems, and equipment which, if destroyed, degraded, or otherwise rendered unavailable, would affect the reliability or operability of the Bulk Electric System (as defined by FERC).

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Critical Asset means an “asset” whose theft, loss, damage, disruption, or degradation would result in significant adverse impacts to human life or health, national security, or critical economic assets.9

Critical Asset shall have the meaning given to it in the NERC Glossary of Terms as of the date of this Agreement.

Examples of Critical Asset in a sentence

• Critical Asset Patrol (CAP) Team Sergeant: Supervises the CAP Team.

• Prior to the O&M Commencement Date, NYPA will determine whether the Astoria Annex Substation is a Critical Asset and determine the existence of Critical Cyber Assets.

• If Power Authority determines that the Astoria Annex Substation is a Critical Asset with Critical Cyber Assets, then compliance required by CIP-003 through CIP-009 shall be applied and any required changes to the existing design and operation of the Facility shall be the Power Authority’s sole responsibility and performed at the Power Authority’s sole cost and expense.

• NYPA, as the registered Transmission Owner for the Astoria Annex Substation, will retain responsibility for the determination of whether the Astoria Annex Substation is a Critical Asset and determining the existence of Critical Cyber Assets.

• Each Closing Date Critical Asset owned by any Company shall be owned by a Wholly Owned Restricted Subsidiary of Borrower (other than Closing Date Critical Assets owned by Heavenly Valley).

• Service Requests may fall into three main categories: Those which involve a Business Critical Asset, incident or requirement; Those requests of an emergency nature where the health and safety of any person is threatened or where the incident or activity has an impact on the physical security of the premises or its Building Users; and Those repair activities required on a daily basis to ensure the functionality of each Affected Property, which have not been catered for by the programmed element.

• The Department of Homeland Security’s Automated Critical Asset Management System (ACAMS).

• Each Closing Date Critical Asset owned by any Company is owned by a Wholly Owned Restricted Subsidiary of Borrower (other than Closing Date Critical Assets owned by Heavenly Valley).

• However, the Purchaser will not be required to Complete in respect of a Tower Site unless all Critical Asset Transfer Documents are provided to the Purchaser at least 5 Working Days prior to Completion (as contemplated in clause 7.6).

• Each Existing Critical Asset owned by any Company is owned by a Wholly Owned Restricted Subsidiary of Borrower (other than Existing Critical Assets owned by Heavenly Valley), and each Additional Critical Asset is owned by a Restricted Subsidiary of Borrower.

More Definitions of Critical Asset

Critical Asset. , for any premises, means any facility, system or equipment which, if damaged or destroyed, may have a debilitating impact on the functioning of the premises;

Critical Asset shall have the meaning defined in the NERC Glossary of Terms.

Critical Asset means an Asset identified as such in Schedule 2. Direction includes any agreement, approval, authorisation, certificate, decision, demand, determination, explanation, instruction, notice, order, permission, rejection, request or requirement. Dispute Resolution Procedures means the procedures established under clause 38 to hear and resolve disputes between the parties. Documentation means all software, drawings, plans, specifications, samples, models, patterns, certificates, instruments, licences, agreements, documents evidencing Approvals, operating, maintenance and other manuals, books of account, correspondence, records and other information or data of whatever nature and whether stored by means of paper-writing, magnetic tape, computer disk or otherwise that in all cases relate to or are relevant to activities carried out under this Agreement.

Critical Asset means facilities, systems, and equipment which, if destroyed, degraded, or otherwise rendered unavailable, would affect the reliability or operability of an institution.

Critical Asset means an asset for which the financial, business or service level of consequences of failure are sufficiently severe to justify proactive inspection and rehabilitation.