Initial Operating Term definition

Initial Operating Term has the meaning attributed thereto in Section 2.1;
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Initial Operating Term means the period commencing on the Effective Date and continuing for a period of five (5) years after the Effective Date.
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Examples of Initial Operating Term in a sentence

  • Owner shall have the right (but not the obligation) to extend the Initial Operating Term of this Agreement for successive periods of one (1) year each (each, a “Renewal Term”) by giving Manager written notice of its desire to extend not later than ninety (90) days prior to the expiration of the Initial Operating Term (or, if applicable, the expiration of the then-current Renewal Term).

  • This Agreement shall commence on the Effective Date and shall continue in full force and effect through the end of the Initial Operating Term unless terminated earlier in accordance with the terms of this Agreement or renewed in accordance with Section 8.2.

  • PR had requested at Feb meeting, the expected date for new Regional Working Groups Terms of Reference as mentioned by Graham Smith at October meeting.

  • Certificates of all policies shall be delivered to Operator prior to the commencement of the Initial Operating Term and thereafter not less than ten (10) days prior to the expiration date of all policies of insurance that must be maintained under the terms of this Agreement.

  • Except as provided in section 42-2002, subsection D, the department of revenue shall release confidential information as requested by the courts and clerks of the court pursuant to section 42-1122.

  • Host Customer shall notify Seller of its intent to purchase at least ninety (90) days and not more than one hundred eighty (180) days before the end of the Contract Operating Term Contract Year of the Initial Operating Term or Additional Operating Term, as applicable, and the purchase shall be completed before the end of the Operating Term Contract Year or the Initial Operating Term or Additional Operating Term, as applicable.

  • The current planning system in Benin is based on a three-tiered approach: long-term prospective studies, medium-term planning, and three-year rolling investment programs (Methodological guide for developing policies and strategies-Guide méthodologique d'élaboration des politiques et strategies, Ministry of planning, February 2020).

  • This Agreement is effective as of the Effective Date and the Contract Term consists of two periods, a Development Term that starts on the Effective Date and runs up until the Commercial Operation Date and then an Initial Operating Term that starts on the Commercial Operation Date and runs for a period of 10 years, unless earlier terminated as provided for in this Agreement or extended for an Additional Operating Term (collectively, the “Term”).

  • Up to one (1) additional term of five (5) years at the same Contract Price (as set forth in Section 3, below) as the Initial Operating Term beginning on the expiration of the Initial Operating Term (the “Additional Operating Term”).

  • The Parties may agree in writing to extend this Agreement for one (1) additional five-year Operating Term at the same Contract Pricing as the Initial Operating Term.

Related to Initial Operating Term

  • 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.

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

  • Commercial Operations Date or "COD": The date on which Facility first achieves Commercial Operations.

  • 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.

  • Commercial Operations Upon satisfaction of the following conditions, the Facility shall be considered to have achieved Commercial Operations on the Day specified in Seller's written notice described below: (i) the Acceptance Test has been passed, (ii) all generating units have passed Control System Acceptance Tests, (iii) the Transfer Date has occurred, (iv) Seller has (1) provided to Company the Required Models (as defined in Section 6(a) (Seller's Obligation to Provide Models) of Attachment B (Facility Owned by Seller)) in the form of Source Code, (2) placed the current version of the Source Code for the Required Models with the Source Code Escrow Agent as required in Section 6(b)(i)(A) (Establishment of Source Code Escrow) of Attachment B (Facility Owned by Seller), or (3) if Seller is unable to arrange for the placement of the appropriate Source Code into the Source Code Escrow account, placed the required funds with the Monetary Escrow Agent as required in Section 6(b)(ii)(A) (Establishment of Monetary Escrow) of Attachment B (Facility Owned by Seller), and (v) Seller provides Company with written notice that (aa) Seller is ready to declare the Commercial Operations Date and (bb) the Commercial Operations Date will occur within 24 hours (i.e., the next Day).

  • Project Term the period from the Operation Commencement Date to the Expiry Date or the Termination Date, whichever occurs first, which is further described in Clause 3;

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • Scheduled Commercial Operation Date shall have the meaning ascribed to it in Clause 5.4.1;

  • Operational Period means the Certificate’s actual term of validity, beginning with the start of the Validity Period and ending on the earlier of: (i) the end of the Validity Period disclosed in the Certificate; or (ii) the revocation of the Certificate.

  • Initial compliance period means the three-year compliance period that begins January 1, 1993, except for the MCLs for dichloromethane, 1,2,4-trichlorobenzene, 1,1,2-trichloroethane, benzo(a)pyrene, dalapon, di(2-ethylhexyl)adipate, di(2-ethyl- hexyl)phthalate, dinoseb, diquat, endothall, endrin, glyphosate, hexachlorobenzene, hexachlorocyclopentadiene, oxamyl, picloram, simazine, 2,3,7,8-TCDD, antimony, beryllium, cyanide, nickel, and thallium, as they apply to a supplier whose system has fewer than 150 service connections, for which it means the three-year compliance period that began on January 1, 1996.

  • 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:

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Project Start Date means the first Milestone Start Date specified in Schedule B;

  • Operating Period for any Element of the Project shall mean the period from (and including) the COD of such Element of the Project, up to (and including) the Expiry Date and for the Project, shall mean the period from (and including) the COD of the Project, up to (and including) the Expiry Date;

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

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

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

  • Start-up period means up to a maximum of 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age-range of the Academy will have some pupils present).

  • 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 period 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 “acquired fund expenses”, 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, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer April 29, 2024 The Royce Fund 000 Xxxxx Xxxxxx New York, NY 10151 Gentlemen: Reference is made to the Investment Advisory Agreement dated July 31, 2020 (the “Agreement”), by and between The Royce Fund (the “Fund”), on behalf of Xxxxx Total Return Fund (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services it provides under the Agreement for the period beginning May 1, 2024, and ending April 30, 2025 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to its Service Class of shares (the “Class”) in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for the Class are not more than 1.49% of the Class’s average net assets for the Period. The Adviser's obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Date of Commercial Operation means the date on which the (nuclear or non-nuclear) power plant has successfully passed all performance and operational tests required by the end customer for commercial operation. In all other cases the warranty shall apply for twenty-four (24) months from delivery of the goods or performance of the services, or such longer period of time as customarily provided by Supplier, plus delays such as those due to non-conforming goods and services. The warranties shall apply to Buyer, its successors, assigns and the users of goods and services covered by this Order.

  • Contract Term means period of performance set forth in the paragraph entitled “Term” contained in Exhibit E.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Sales assessment ratio studies means sales assessment ratio studies

  • School operating taxes means local ad valorem property taxes levied under section 1211 of the revised school code, MCL 380.1211, and retained for school operating purposes.

  • 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.