Guaranteed Commercial Operation Date definition

Guaranteed Commercial Operation Date has the meaning set forth in Section 3.9(c)(i).

Guaranteed Commercial Operation Date means the Expected Commercial Operation Date, as such date may be extended by the Development Cure Period.

Guaranteed Commercial Operation Date means the date that is 120 days after the Scheduled Commercial Operation Date.

Examples of Guaranteed Commercial Operation Date in a sentence

• The Progress Report shall (i) describe the progress towards meeting the Milestones; (ii) identify any missed Milestones, including the cause of the delay; and (iii) provide a detailed description of Seller’s corrective actions to achieve the missed Milestones and all subsequent Milestones by the Guaranteed Commercial Operation Date.

• Within fifteen (15) days after the close of (a) each calendar quarter from the first calendar quarter following the Effective Date until the Expected Construction Start Date, and (b) each calendar month thereafter until the Commercial Operation Date, Seller shall provide to Buyer a Progress Report; provided, that if Seller misses the Guaranteed Construction Start Date or Guaranteed Commercial Operation Date, Seller shall provide updated Progress Reports to Buyer on a weekly basis, or as otherwise agreed.

• If Seller does not achieve Commercial Operation by the Guaranteed Commercial Operation Date, as it may be extended as provided herein, Seller shall pay COD Delay Damages to Buyer for each day after the Guaranteed Commercial Operation Date until the Commercial Operation Date and shall be paid to Buyer in advance on a monthly basis.

• The Guaranteed Construction Start Date and the Guaranteed Commercial Operation Date shall both, subject to notice and documentation requirements set forth below, be extended on a day-for-day basis due to Force Majeure Event for a period of up to one-hundred twenty (120) days on a cumulative basis (the “Development Cure Period”).

• If Seller achieves Commercial Operation for the Facility to occur by the Guaranteed Commercial Operation Date, all Construction Delay Damages paid by Seller shall be refunded to Seller.

More Definitions of Guaranteed Commercial Operation Date

Guaranteed Commercial Operation Date. The “Guaranteed Commercial Operation Date” or “Guaranteed COD” means the Expected Commercial Operation Date, subject to extensions on a day-for-day basis due to Force Majeure or delays caused by transmission provider (e.g., the CAISO) or transmission owner (e.g., PG&E) that are outside of the reasonable control of Seller. Such day-for-day extensions, including for Force Majeure, shall be no longer than one-hundred twenty (120) days on a cumulative basis. For clarity, these permitted extensions extend both the Guaranteed Construction Start Date and the Guaranteed COD simultaneously. If Seller does not achieve COD of the Facility by the Guaranteed COD, Seller shall pay Delay Damages to the Buyer for each day of delay until Seller achieves COD. “Delay Damages” are equal to the Development Security divided by 60. Delay Damages shall be paid for each day of delay and shall be paid to Buyer in advance on a monthly basis. A prorated amount will be returned to Seller if COD is achieved during the month for which Delay Damages were paid in advance. Failure to achieve COD within 60 days of the Guaranteed COD shall constitute an Event of Default, and Buyer shall have the right, in its sole discretion, to terminate the PPA and retain the Development Security. Commercial Operation Date (“COD”): The COD shall be the date when all of the following requirements have been met to Buyer’s reasonable satisfaction including Seller providing a certificate from an independent engineer to Buyer certifying to the following: The Facility is fully operational, reliable and interconnected, fully integrated and synchronized with the Transmission System. Seller has installed equipment for the Facility with a nameplate capacity of no less than ninety-five percent (95%) of the Guaranteed Capacity. Seller has commissioned all equipment in accordance with its respective manufacturer’s specifications. The Facility’s testing included a performance test demonstrating peak electrical output of no less than ninety-five percent (95%) of the Guaranteed Capacity for the Facility at the Delivery Point, as adjusted for ambient conditions on the date of the Facility testing, and such peak electrical output, as adjusted, was [peak output in MW]. Authorization to parallel the Facility was obtained by the Participating Transmission Owner, [Name of Participating Transmission Owner as appropriate] on [Date]. The Transmission Provider has provided documentation supporting full unrestricted release for Comm...

Guaranteed Commercial Operation Date means [ ], as may be extended for (a) Force Majeure Extension according to Section 3.6(a), and (b) the Accounting Treatment Work- Out Period Extension according to Section 3.6(b); provided, however, that the Guaranteed Commercial Operation Date shall only be extended by one Day for each Day when both of the extensions described in clauses (a) and (b) above apply.

Guaranteed Commercial Operation Date or “Guaranteed COD” means the Expected Commercial Operation Date, subject to extensions on a day-for-day basis for the Development Cure Period. If the Seller does not achieve COD of the Facility by the Guaranteed COD, Seller shall pay COD Delay Damages to the Buyer for each day of delay until Seller achieves COD. “COD Delay Damages” are equal to the Development Security divided by 60. COD Delay Damages shall be paid for each day of delay and shall be paid to Buyer in advance on a monthly basis. A prorated amount will be returned to Seller if COD is achieved during the month for which COD Delay Damages were paid in advance. Failure to achieve COD for any reason within 60 days of the Guaranteed COD, shall constitute an Event of Default, and Buyer shall have the right, in its sole discretion, to terminate the PPA and receive the Damage Payment. For the avoidance of doubt, Seller’s liability for an Event of Default comprising the failure to timely achieve COD shall equal the sum of any Construction Delay Damages and COD Delay Damages that are due and owing, plus the Damage Payment.

Guaranteed Commercial Operation Date shall have the meaning set forth in Section 3.1(a)(vi) hereof.

Guaranteed Commercial Operation Date means the date that is ninety (90) days after the Scheduled Commercial Operation Date.

Guaranteed Commercial Operation Date has the meaning set forth in Section 2.10(c). [

Guaranteed Commercial Operation Date has the meaning set forth in Section 1.1.2. “Guaranteed Energy Production” or “GEP” has the meaning set forth in Section 11.1.