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 has the meaning set forth in Article 21.1.1(b);
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Examples of Decommissioning Security in a sentence

  • Landowner shall have the right to review and approve the form of and plan for using the Decommissioning Security; provided, however, such approval shall not be unreasonably withheld, conditioned or delayed.

  • 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 Decommissioning Security may be posted with an appropriate commercial entity, or if required, a local government agency.

  • The failure of Company to secure, update and maintain the Decommissioning Security shall constitute a default of Company under this Lease.

  • The County may draw on or make a claim against the Decommissioning Security for the actual cost incurred by the County to perform Developer’s decommissioning obligations if Developer fails to comply with such obligations set forth in Section 6.1 of this Agreement.

  • 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.

  • Approval of this plan by the County is a requirement of the Conditional Use Permit.A Decommissioning Cost Estimate will be provided for County review prior to the issuance of building permits and updated every five years.This Plan also outlines the posting of Decommissioning Security, in a form reasonably acceptable to the County, to be established prior to the Project entering commercial operation.

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

  • This Plan also outlines the posting of Decommissioning Security, in a form reasonably acceptable to the County, to be established prior to the Project entering commercial operation.

  • 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’.


More Definitions of Decommissioning Security

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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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.

  • 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;

  • Project Commissioning means the Project will be considered as commissioned if all equipment as per rated project capacity has been installed and energy has flown into grid, in line with the Commissioning procedures defined in the RfS/PPA.

  • 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. 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.

  • 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.

  • 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.

  • 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.

  • 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.