Eligible NIC Project definition

Eligible NIC Project means a project undertaken by the licensee or any other transmission licensee that appears to the Authority to satisfy such requirements of the NIC Governance Document as are necessary to enable the project to be funded under the NIC Funding Mechanism. "Funding Return" has the meaning given to that term in paragraph 6 of this condition. "Funding Return Mechanism" has the meaning given to that term in paragraph 5 of this condition. "Halted Project Revenues" has the meaning given to that term in paragraph 7 of this condition. "NIC Funding" has the meaning given to that term in paragraph 14 of this condition. "NIC Funding Mechanism" Refers to the arrangements (pursuant to amended standard condition E12-J11 of its transmission licence) for the recovery by the System Operator through its Transmission Network Charges of the amount of total authorised NIC Funding in any Relevant Year and the apportionment of that amount between the System Operator, the licensee, and other Transmission Licensees. "Returned Royalty Income" has the meaning given to that term in paragraph 9 of this condition. "NIC Governance Document" means the document issued by the Authority under Part E of this condition, subject to the requirements of Part F, relating generally to the NIC and including matters relating to the operation of the NIC Funding Mechanism. "Project Direction" means a direction issued by the Authority pursuant to the NIC Governance Document setting out the terms to be followed in relation to an Eligible NIC Project as a condition of its funding under the NIC Funding Mechanism. "Transmission Network Charges" means charges levied by the System Operator in respect of the provision of Transmission Network Services.
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Examples of Eligible NIC Project in a sentence

  • Appendix 1 – Definitions Approved Amounts Amounts approved by the Authority in relation to a claim submitted by a Network Licensee to receive funding for an Eligible NIC Project, where such claim complies in all respects with such requirements as are imposed by the NIC Governance Document in respect of such claims.

  • Eligible NIC Project has the meaning given in definitions of the Electricity Distribution licence.

  • Once a Project Direction has been issued by the Authority, and provided the Network Licensee complies with this Governance Document and with the Project Direction, the Project identified within it is deemed to be an Eligible NIC Project, as defined in the NIC Licence Condition.

  • Once a Project Direction has been issued by the Authority, and provided the Network Licensee complies with this Governance Document and the Project Direction, the Project identified within it is deemed to be an Eligible NIC Project, as defined in the NIC Licence Condition.

  • The Authority may consider it appropriate for a proportion of any revenues subject to this mechanism to be retained by the Funding Licensee (which may subsequently redistribute them amongst parties involved in the Eligible NIC Project as appropriate).Should the Funding Licensee consider that it is necessary to have alternative arrangements, it may justify a deviation from the default (clearly stating why it's in the customers’ interests), which may be reflected in the Project Direction.

  • Halted Project Revenues are any revenues received by the licensee from the System Operator under the NIC Funding Mechanism in respect of an Eligible NIC Project which have not yet been spent, or otherwise committed, at the time that the Authority requires that project to be halted in accordance with the applicable provisions of the NIC Governance Document or the terms of the relevant Project Direction.

  • Eligible NIC Project has the meaning given in definitions of the Electricity Transmission licence.2 of 9 Schedule to Project Direction 1.

  • Project Direction means a direction issued by the Authority pursuant to the NIC Governance Document setting out the terms to be followed in relation to an Eligible NIC Project as a condition of its funding under the NIC Funding Mechanism.

  • Eligible NIC Project has the meaning given in the definitions in the Gas Distribution licence.2 of 8 Schedule to Project Direction 1.

  • The Authority may consider it appropriate for a proportion of any revenues subject to this mechanism to be retained by the Funding Licensee (which may subsequently redistribute them amongst parties involved in the Eligible NIC Project as appropriate).

Related to Eligible NIC Project

  • Eligible project means 1 or more of the following projects of a local unit that have been approved by the director and the state treasurer, including costs associated with a project necessary for issuance of evidences of indebtedness to finance the project:

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Qualified project means the construction or expansion of any capital project of the Borrower or any of its Restricted Subsidiaries, the aggregate actual or budgeted capital cost of which (in each case, including capital costs expended by the Borrower or any such Restricted Subsidiaries prior to the construction or expansion of such project) exceeds $50,000,000.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Solar PV Project means the solar Photo Voltaic Power project that uses sunlight for direct conversion into electricity through Photo Voltaic technology.

  • Public project means any of the following:

  • Qualifying project means (i) any education facility, including, but not limited to a school building, any functionally related and subordinate facility and land of a school building (including any stadium or other facility primarily used for school events), and any depreciable property provided for use in a school facility that is operated as part of the public school system or as an institution of higher education; (ii) any building or facility that meets a public purpose and is developed or operated by or for any public entity; (iii) any improvements, together with equipment, necessary to enhance public safety and security of buildings to be principally used by a public entity; (iv) utility and telecommunications and other communications infrastructure; (v) a recreational facility; (vi) technology infrastructure and services, including, but not limited to, telecommunications, automated data processing, word processing and management information systems, and related information, equipment, goods and services; (vii) any technology, equipment, or infrastructure designed to deploy wireless broadband services to schools, businesses, or residential areas; or (viii) any improvements necessary or desirable to any unimproved locally- or state-owned real estate.

  • Approved Project means the Scheme application of the Applicant approved by the CIC.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Qualified Project Costs means the costs paid with respect to the Project that meet each of the following requirements: (i) the costs are properly chargeable to capital account (or would be so chargeable with a proper election by the Owner or but for a proper election by the Owner to deduct such Costs) in accordance with general Federal income tax principles and in accordance with United States Treasury Regulations §1.103-8(a)(1), provided, however, that only such portion of interest accrued during rehabilitation or construction of the Project (in the case of rehabilitation, with respect to vacated units only) shall be eligible to be a Qualified Project Cost as bears the same ratio to all such interest as the Qualified Project Costs bear to all Project Costs; and provided further that interest accruing after the date of completion of the Project shall not be a Qualified Project Cost; and provided still further that if any portion of the Project is being constructed or rehabilitated by an Affiliate (whether as a general contractor or a subcontractor), Qualified Project Costs shall include only (A) the actual out-of-pocket Costs incurred by such Affiliate in constructing or rehabilitating the Project (or any portion thereof), (B) any reasonable fees for supervisory services actually rendered by the Affiliate, and (C) any overhead expenses incurred by the Affiliate which are directly attributable to the work performed on the Project, and shall not include, for example, intercompany profits resulting from members of an affiliated group (within the meaning of Section 1504 of the Code) participating in the rehabilitation or construction of the Project or payments received by such Affiliate due to early completion of the Project (or any portion thereof); (ii) the costs are paid with respect to a qualified residential rental project or projects within the meaning of Section 142(d) of the Code,

  • Sub-project means a specific development project to be carried out by a Beneficiary utilizing the proceeds of a Sub-loan; and

  • New Project means (a) each facility which is either a new facility, branch or office or an expansion, relocation, remodeling or substantial modernization of an existing facility, branch or office owned by the Borrower or its Subsidiaries which in fact commences operations and (b) each creation (in one or a series of related transactions) of a business unit to the extent such business unit commences operations or each expansion (in one or a series of related transactions) of business into a new market.

  • Unencumbered Pool means as of any date, all then-current Unencumbered Pool Properties.

  • Qualified building means a building built at least 30 years before the date of application, located within a designated downtown or, village center, or neighborhood development area, which, upon completion of the project supported by the tax credit, will be an income-producing building not used solely as a single-family residence. Churches and other buildings owned by religious organization may be qualified buildings, but in no event shall tax credits be used for religious worship.

  • Covered Project means and includes any project which consists of one or more of the following:

  • Demonstration project means one of the following projects:

  • Qualifying Facility means an electric energy generating facility that complies with the qualifying facility definition established by PURPA and any FERC rules as amended from time to time (18 Code of Federal Regulations Part 292, Section 292.203 et seq.) implementing PURPA and, to the extent required to obtain or maintain Qualifying Facility status, is self-certified as a Qualifying Facility or is certified as a Qualified Facility by the FERC.

  • Residential Project means a redevelopment project that is

  • Pilot project means an innovative environmental project that covers one or more designated facilities, designed and implemented in the form of an EMSA. (See Section 52.3 of the Act.)

  • Expandable condominium means a condominium project to which additional