Decommissioning Security definition

Decommissioning Security means one or more, or any combination of the following securing Developer’s obligations to decommission the Project Facilities: corporate security bond, collateral bond, letter of credit, parent company guarantee, cash escrow or any other form of security reasonably acceptable to Developer and the County Commission.
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Decommissioning Security. Means surety bonds, comprised of Seller Bonds or a combination of Sellers Bonds and BOEM Bonds, together with any Backstop Letter of Credit, at all times equal in the aggregate to the Decommissioning Security Amount.
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Decommissioning Security means an irrevocable commercial bank guarantee from a bank that has a long term debt rating of at least A+ by Standard & Poor’s, or A1 by Xxxxx’x Investors Service, or an equivalent rating by a successor entity to either agency, and has a net worth of at least five (5) times the secured amount. “Delivery Point” for: (a) Crude Oil has the meaning given to such term in Article 10.5; and (b) Natural Gas is as mutually agreed by the Parties;
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Examples of Decommissioning Security in a sentence

  • By its terms, the Decommissioning Security shall survive the bankruptcy or dissolution of the owner and/or operator of the solar farm or other termination of the owner and/or operator of the solar farm's existence or its legal obligations.

  • The Decommissioning Security shall be equal to or greater than the estimated amount by which the cost of decommissioning the solar farm exceeds the salvage value of the solar farm.

  • Once it is in place, the owner and/or operator of the solar farm shall maintain the Decommissioning Security, and cause the Decommissioning Security to be valid and enforceable until the secured decommissioning obligations are satisfied.

  • When any of the identified decommissioning triggers exist, if the owner and/or operator of the solar farm has not complied with its decommissioning and related obligations, the County shall be entitled to make a claim against the Decommissioning Security for its costs to decommission the solar farm, net of any salvage value the County actually realizes.

  • Decommissioning costs shall be re-valuated once every five (5) years from the date of substantial completion of the solar farm to ensure sufficient funds for decommissioning and, if the parties agree at that time that the decommissioning costs need to be modified, the amount of the Decommissioning Security shall be adjusted accordingly.

  • This Decommissioning Security Requirement must be fulfilled at least 30 days before the Commercial Operation Date.

  • Within forty-five (45) days of such determination of completion of Decommissioning, the County shall send a letter, with a copy to ESS, approving the release to ESS of the Decommissioning Security.

  • Further security in the sum of £4.0 million, the TRF Decommissioning Security Amount, is to be provided 2.5 years following the announcement of ‘first gas’.

  • The Decommissioning Security may be in one of the following forms: (i) cash to be held in escrow by the County Treasurer at a Bank, or (ii) a letter of credit from a financial institution reasonably acceptable to the County which shall be irrevocable unless replaced with cash or other form of security reasonably acceptable to County (each a form of “Acceptable Credit Support”).

  • Once it is in place, the owner and/or operator shall maintain the Decommissioning Security.


More Definitions of Decommissioning Security

Decommissioning Security has the meaning set forth in Article 21.1.1(b);
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Decommissioning Security means either (a) a bond, surety or letter of credit from a Qualified Financial Institution (as defined below) securing the payment or performance of the Decommissioning Obligations, or (b) a corporate guarantee from a Qualified Guarantor (as defined below) pursuant to which such Qualified Guarantor guarantees to the County, in the event of a default by Applicant in the performance of the Decommissioning Obligations, the reimbursement to the County of its actual out of pocket costs incurred in performing such obligations, up to the amount of the Net Decommissioning Cost (as defined below); (ii) “Qualified Financial Institution” means an FDIC-insured bank or other financial institution with assets exceeding $1 billion; (iii) a “Qualified Guarantor” means an entity that either (a) is a public service corporation as defined under the laws of the Commonwealth of Virginia, (b) has a tangible net worth of not less than Fifty Million Dollars ($50,000,000), as verified by financial statements certified to County by such company’s chief financial officer or equivalent, (c) has equity interests listed on the NYSE, NASDAQ, or another national public equities exchange, or (d) whose senior unsecured debt carries a credit rating of at least Baa3 or better by Moody’s, BBB- or better by S&P, and/or BBB- or better by Fitch (or the equivalent(s) under any successor rating category of Moody’s, S&P or Fitch, as applicable); and (iv) “Net Decommissioning Cost” means the Gross Decommissioning Costs less the Salvage Value (as defined below). Notwithstanding any provision herein to the contrary, and in accordance with the SEP, the County agrees to the following:
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Related to Decommissioning Security

  • Decommissioning means the measures taken at the end of a facility's operating life to assure the continued protection of the public from any residual radioactivity or other potential hazards present at a facility.

  • Decommissioning Plan means the document containing detailed information on the proposed decommissioning and covering the following: the selected decommissioning strategy; the schedule, type and sequence of decommissioning activities; the waste management strategy applied, including clearance; the proposed end state; the storage and disposal of the waste from decommissioning; the timeframe for decommissioning; the cost estimates for the completion of decommissioning; and the objectives, expected results, milestones, target dates, as well as the corresponding key performance indicators, including, as appropriate, earned value based indicators. The plan is prepared by the nuclear facility license holder and is reflected in the multiannual work programmes of the Programme;

  • Project Water means water made available for delivery to the contractors by project conservation facilities and the transportation facilities included in the System.

  • Generation Interconnection Feasibility Study means a study conducted by the Transmission Provider (in coordination with the affected Transmission Owner(s)) in accordance with Tariff, Part IV, section 36.2.

  • Generation Interconnection Facilities Study means a Facilities Study related to a Generation Interconnection Request.

  • Nuclear Fuel means any material which is capable of producing energy by a self-sustaining chain process of nuclear fission.

  • Customer Interconnection Facilities means all facilities and equipment owned and/or controlled, operated and maintained by Interconnection Customer on Interconnection Customer’s side of the Point of Interconnection identified in the appropriate appendices to the Interconnection Service Agreement and to the Interconnection Construction Service Agreement, including any modifications, additions, or upgrades made to such facilities and equipment, that are necessary to physically and electrically interconnect the Customer Facility with the Transmission System.

  • Interconnection Feasibility Study means either a Generation Interconnection Feasibility Study or Transmission Interconnection Feasibility Study.

  • Storm water or wastewater collection system means piping, pumps, conduits, and any other equipment necessary to collect and transport the flow of surface water run-off resulting from precipitation, or domestic, commercial, or industrial wastewater to and from retention areas or any areas where treatment is designated to occur. The collection of storm water and wastewater does not include treatment except where incidental to conveyance.

  • Transmission Owner Interconnection Facilities means all Interconnection Facilities that are not Customer Interconnection Facilities and that, after the transfer under Tariff, Attachment P, Appendix 2, section 5.5 to the Interconnected Transmission Owner of title to any Transmission Owner Interconnection Facilities that the Interconnection Customer constructed, are owned, controlled, operated and maintained by the Interconnected Transmission Owner on the Interconnected Transmission Owner’s side of the Point of Interconnection identified in appendices to the Interconnection Service Agreement and to the Interconnection Construction Service Agreement, including any modifications, additions or upgrades made to such facilities and equipment, that are necessary to physically and electrically interconnect the Customer Facility with the Transmission System or interconnected distribution facilities. Transmission Provider: The “Transmission Provider” shall be the Office of the Interconnection for all purposes, provided that the Transmission Owners will have the responsibility for the following specified activities:

  • Commissioning means the process for determining the need for and for obtaining the supply of healthcare and related services by the Trust within available resources.

  • Surplus Interconnection Customer means either an Interconnection Customer whose Generating Facility is already interconnected to the PJM Transmission System or one of its affiliates, or an unaffiliated entity that submits a Surplus Interconnection Request to utilize Surplus Interconnection Service within the Transmission System in the PJM Region. A Surplus Interconnection Customer is not a New Service Customer.

  • Generation Interconnection Customer means an entity that submits an Interconnection Request to interconnect a new generation facility or to increase the capacity of an existing generation facility interconnected with the Transmission System in the PJM Region. Generation Interconnection Request:

  • Surplus Interconnection Service means any unneeded portion of Interconnection Service established in an Interconnection Service Agreement, such that if Surplus Interconnection Service is utilized, the total amount of Interconnection Service at the Point of Interconnection would remain the same. Switching and Tagging Rules:

  • Wastewater collection system means the sewer and pumping system used for the collection and conveyance of domestic, commercial and industrial wastewater; and

  • Contractor System means the information and communications technology system used by the Contractor in performing the Services including the Software, the Contractor Equipment and related cabling (but excluding the Authority System).

  • Generation Interconnection Request means a request by a Generation Interconnection Customer pursuant to Tariff, Part IV, subpart A, to interconnect a generating unit with the Transmission System or to increase the capacity of a generating unit interconnected with the Transmission System in the PJM Region.

  • Mature plant means harvestable female marijuana plant that is flowering.

  • Spent nuclear fuel means fuel that has been withdrawn from a nuclear re- actor following irradiation, the con- stituent elements of which have not been separated by reprocessing.

  • Stormwater system means constructed and natural features which function together as a system to collect, convey, channel, hold, inhibit, retain, detain, infiltrate, divert, treat, or filter stormwater. “Stormwater system” includes both public and privately owned features.

  • Office of the Interconnection Control Center means the equipment, facilities and personnel used by the Office of the Interconnection to coordinate and direct the operation of the PJM Region and to administer the PJM Interchange Energy Market, including facilities and equipment used to communicate and coordinate with the Market Participants in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region. On-Site Generators:

  • Electrical Interconnection Facilities means the equipment and facilities required to safely and reliably interconnect a Facility to the transmission system of the Transmitting Utility, including the collection system between each Bloom System, transformers and all switching, metering, communications, control and safety equipment, including the facilities described in any applicable Interconnection Agreement.

  • Interconnection Point means the point(s) of connection(s) at which the project is connected to the grid i.e. it shall be at 11 / 22 kV bus bar level of substation of MSEDCL.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Operating Environment means, collectively, the platform, environment and conditions on, in or under which the Software is intended to be installed and operate, as set forth in the Statement of Work, including such structural, functional and other features, conditions and components as hardware, operating software and system architecture and configuration.

  • Interconnection Facilities means the Transmission Owner Interconnection Facilities and the Customer Interconnection Facilities.