First Operational Year definition

First Operational Year means the period commencing from the Commissioning and expiring at the end of the Calendar Month in which Project completes twelve (12) Months from the COD of PPA Capacity;
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First Operational Year means the period commencing from the Initial Part Commissioning and expiring at the end of the Calendar Month in which Project completes twelve (12) Months from the COD;
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First Operational Year means the period commencing from the SCOD and expiring at the end of the Calendar Month in which Project completes twelve (12) Months from the SCOD;
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Examples of First Operational Year in a sentence

  • If the successful bidder forms a Project Company (SPV), the shareholders of the Successful Bidder, as on the date of submission of the Bid, shall continue to hold up to 51% of the total ownership of the Project Company (SPV), from the date of incorporation of SPV until the completion of First Operational Year.

  • Further, any member of the consortium or Partner in a Partnership firm or an LLP, shall maintain individual equity in newly formed Company of, at least, 51% of its share in the bidding consortium or in the partnership deed, as the case may be, submitted along with the Bid, up to completion of First Operational Year.

  • In the event that the Successful Bidder, which is a single Entity, chooses not to incorporate any Project Company, then the shareholders of the Successful Bidder, as on the date of submission of the Bid, shall not decrease their ownership below 51% until the expiry of a First Operational Year.

  • The aggregate equity shareholding of the Successful Bidder in the issued and paid up share capital, and the voting rights and control of the Project Company shall not be less than fifty one percent (51%) up to completion of First Operational Year.

  • Any change in ownership and liabilities after First Operational Year shall be permissible, however SPD should inform Nodal Agency in writing within 30 Days of change in ownership.

  • In-case members/ Lead Member of Consortium/ Joint Venture has referred its Affiliate to meet the Financial Eligibility criteria, then the same relationship with the Affiliate by the Bidder shall continue at least for the period of First Operational Year (equity lock-in period).

  • In-case Bidder/Lead Member of Consortium has referred its Affiliate to meet the Financial Eligibility criteria, then the same relationship with the Affiliate by the Bidder shall continue at least for the period of First Operational Year of each Project under the Project Group.

  • The rates shown in the Financial Bid sheet for the sale of solar power is for the First Operational Year i.e. Rs per unit, which shall be escalated by 3% at the start of each subsequent Operational Year till 25thOperational Year.

  • Students who are enrolled in district alternative programs must receive prior administrative approval before visiting the home school.

  • In-case members/ Lead Member of Consortium/ JV has referred its Affiliate to meet the Financial Eligibility criteria, then the same relationship with the Affiliate by the Bidder shall continue at least for the period of First Operational Year (equity lock-in period).


More Definitions of First Operational Year

First Operational Year means the period commencing from the Initial Part Commissioning and expiring at the end of the Calendar Month in which Project completes [insert number of months in words] (XX) Months from the COD of PPA Capacity;
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First Operational Year means the twelve (12) month period commencing from the Effective Date;
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Related to First Operational Year

  • Operational Period means a period starting with the date and time a Certificate is issued (or on a later date and time certain if stated in the Certificate) and ending with a date and time at which the Certificate expires or is earlier revoked.

  • Initial Operation means the first integral operation of the complete equipment covered under the Contract with the sub-system and supporting equipment in service or available for service.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Mining operation means any operations undertaken for the purpose of winning any mineral as defined in section 3 (d) of Mines and Minerals (Development and Regulation) Act, 1957.

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Normal operation means all periods of operation except start-up and shutdown operations and maintenance of equipment;

  • Operational Plan means a Forest Stewardship Plan, Woodlot Licence Plan, a Range Use Plan, or Range Stewardship Plan, as those terms are defined in provincial forest and range legislation;

  • In operation means engaged in activity related to the primary design function of the source.

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

  • Annual Work Plan and Budget means each annual work plan and budget (including related cash forecasts) for the implementation of the Project approved by the Association, referred to in Section I.D of Schedule 2 to this Agreement; and “Annual Work Plans and Budgets” means, collectively, all such plans and budgets.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Commercial Operation Date means the date on which a Material Project is substantially complete and commercially operable.

  • Academy Financial Year means the year from 1st September to 31st August or such other period as the Secretary of State may from time to time specify by notice in writing to the Academy Trust;

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series' assets with respect to the Class for the calendar year involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees' fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series' statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series' "Annual Operating Expenses" for the Class do not include interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are "extraordinary" as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, INC. By: /s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx, President ACCEPTED: THE ROYCE FUND By: /s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx, President December 16, 1998 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement - Royce Giftshares Fund (Investment Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated December 22, 1995 and amended May 28, 1997 (the "Agreement") by and between The Royce Fund (the "Fund") on behalf of Royce GiftShares Fund (the "Series") and Royce & Associates, Inc. (the "Adviser").

  • Commercial Operation means the condition of operation in which the complete equipment covered under the Contract is officially declared by the Owner to be available for continuous operation at different loads up to and including rated capacity. Such declaration by the Owner, however, shall not relieve or prejudice the Contractor of any of his obligations under the Contract.

  • Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period.

  • Commence commercial operation means, with regard to a unit that serves a generator, to have begun to produce steam, gas, or other heated medium used to generate electricity for sale or use, including test generation subject to the following: