Examples of Decommissioning in a sentence
The Decommissioning Cost Estimate shall be updated every five (5) years at Company’s sole expense.
The Decommissioning Security may be posted with an appropriate commercial entity, or if required, a local government agency.
To the extent of any deficiency between the Decommissioning Cost Estimate and the amount required to be posted by the governmental authority, then Company shall post security in the amount of the deficiency consistent with acceptable forms of such security listed in this Section 7.4. Company shall provide written evidence to Landowner of Company’s posting of security within thirty (30) days of such posting.
The Decommissioning Security shall remain in effect until Company has completed the decommissioning of the Solar Facility and the removal of the Solar Facility Equipment from the Leased Property and met all of Company’s obligations required under Section 7.1 of this Lease.
The failure of Company to secure, update and maintain the Decommissioning Security shall constitute a default of Company under this Lease.