Decommissioning Bond definition

Decommissioning Bond has the meaning specified in Section 8.2.

Decommissioning Bond means a bond identifying the Municipality as the beneficiary issued by a recognized surety licensed to carry on business in Nova Scotia, or comparable other form of surety acceptable to the Municipality in its sole discretion, exercised reasonably, to secure a Decommissioning Plan. The Bond shall be in the amount not less than one hundred and twenty-five percent (125%) of the estimated present-day cost to decommission the Wind Turbine; less the estimated scrap value.

Decommissioning Bond means a bond in the amount of $69,200.00 issued by a surety licensed to do business in Massachusetts and whose name appears on U.S. Treasury Dept. Circular 570 for the decommissioning and removal of the System and return of the land to its original state.

Examples of Decommissioning Bond in a sentence

• Seller shall have obtained and delivered the Decommissioning Bond, satisfying the requirements set forth in Section 8.2, to Purchaser.

• As security for the performance of Seller’s obligations under Section 8.1 (collectively, “Decommissioning”), prior to the issuance of the Installation Notice to Proceed, Seller shall, at its sole cost and expense, obtain and cause to be issued and delivered to Purchaser by a Qualified Surety a decommissioning bond (“Decommissioning Bond”), in form and substance as provided in Schedule 12 (Form of Decommissioning Bond) or as may otherwise be acceptable to Purchaser.

• The Decommissioning Bond shall specify that it shall be subject to and governed by Virginia law.

• Each Party submits to the exclusive jurisdiction of the competent courts of Cuttack.

• Unless Purchaser disagrees with the recalculation of such Decommissioning Amount by delivery of Notice to Seller within twenty (20) Days following receipt of such report from the Qualified Engineer, Seller shall cause the Qualified Surety to amend or replace the Decommissioning Bond with the recalculated Decommissioning Amount, as determined by the Qualified Engineer, and deliver such amended or replacement Decommissioning Bond to Purchaser within thirty (30) Days.

• This enabled President Corazon Aquino to lead the Philippines back to its rightfi.il place as a respected member of the community of nations.

• At any time, Seller shall have the option to provide or replace the Decommissioning Bond with a guaranty from an entity with an Investment Grade Credit Rating and in form and substance reasonably acceptable to Purchaser.

• Upon removal of the infrastructure and disposal of all components of the Project from the site on which the Project is built, and upon restoration of the site to its previous appearance, this agreement and Project Company's obligation to provide a Decommissioning Bond pursuant to preceding paragraphs 1, 2, and 3 shall terminate.

• At least sixty (60) Days prior to the expiration of each term of such Decommissioning Bond, Seller shall cause the Decommissioning Bond to be renewed for an additional one (1) year term.

• Unless Purchaser disagrees with the recalculation of such Decommissioning Amount by delivery of Notice to Seller within [twenty (20)] Days following receipt of such report from the Qualified Engineer, Seller shall cause the Qualified Surety to amend or replace the Decommissioning Bond with the recalculated Decommissioning Amount, as determined by the Qualified Engineer, and deliver such amended or replacement Decommissioning Bond to Purchaser within thirty (30) Days.