Operations Date definition
Examples of Operations Date in a sentence
The term of the Agreement shall commence on the Effective Date and shall continue for twenty five (25) years from the Commercial Operations Date (the "Term"), unless and until terminated earlier pursuant to the provisions of the Agreement.
Seller’s inability to achieve Commercial Operations by the Guaranteed Commercial Operations Date may cause Buyer to not meet applicable regulatory requirements and require Buyer to devote substantial additional resources for administration and oversight activities.
The Parties shall have the rights and obligations set forth in Section 3.1 (Guaranteed Project Milestones Including Commercial Operation) of APPENDIX E (Facility Requirements) in the event a condition or event of Force Majeure affects the achievement of a Guaranteed Project Milestone Date, including the Guaranteed Commercial Operations Date.
If the Agreement is terminated by Buyer in accordance with this Agreement after the Commercial Operations Date due to an Event of Default where Seller is the Defaulting Party, Buyer shall be entitled to Termination Damages equal to the remainder of the Contract Total.
Beginning on the first anniversary of the Commercial Operations Date and continuing for a period a [XXX] years thereafter, each year, within [ninety (90)] days of the anniversary of the Commercial Operations Date, the Fund will make bonus payments to landowners (“American Energy Dividend) of [$1,000] per year to each household located within [3 miles] of the Project perimeter.