Project Operations Date definition

Project Operations Date has the meaning given to such term in the Shareholders’ Agreement;
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Project Operations Date means 06:00 on the day following the day on which the Complex has been fully constructed, tested, and commissioned and is determined by the Board to be prepared for the first delivery of Products.
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Project Operations Date means the date immediately following the Provisional Acceptance Date on which Operator assumes care, custody and control of the Project, or if Provisional Acceptance is not achieved, the date the Owner turns over care, custody and control of the Project to Operator, pursuant to a written notice of such event from Owner to Operator.
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Examples of Project Operations Date in a sentence

  • The Marketing Council shall be formed at least two (2) years prior to the estimated Project Operations Date.

  • Each Party shall have the right to terminate this Agreement with thirty (30) days’ written notice to the other Party if the Interim Project Operations Date has not occurred within two (2) years after the Execution Date and such circumstance shall be continuing, without any liability arising as a result thereof.

  • The initial term of this Agreement shall extend for a period of fifteen (15) years from the Project Operations Date, unless terminated earlier in accordance with Section 12.4 of this Agreement.

  • As compensation to Operator for its performance of its obligations hereunder, Owner shall pay Operator an annual fee (the "Annual Fee") commencing with the first Operating Year after the Project Operations Date, and every Operating Year thereafter.

  • Attached hereto as Exhibit A-1 is the base case pro forma Annual Operating Plan and Budget for the twelve (12) month period commencing on the Project Operations Date.

  • The responsibility for the continuous operation of the Project, as well as care, custody and control of the Project, shall be delivered to Operator by Owner on the Project Operations Date.

  • In the event the Project Operations Date occurs on any day other than the first day of a calendar year, Operator shall prepare and deliver to Owner within four (4) months of the Project Operations Date an extension to the initial Annual Operating Plan and Budget to cover the period from the first anniversary of the Project Operations Date to the end of the calendar year in which such first anniversary occurs.

  • Attached hereto as Exhibit A-2 is the base case pro forma Major Maintenance Budget for the five (5) year period commencing on the Project Operations Date.

  • On and after the Leased Equipment Operations Date with respect to the Leased Equipment and the Project Operations Date with respect to the Project, Operator shall provide all operation and maintenance services (other than major maintenance separately contracted by the Owner) necessary to efficiently operate and maintain the Project and the Leased Equipment, as the case may be, including, but not limited to, performing the following services.

  • If Owner and Operator cannot reach agreement on the Annual Operating Plan and Budget by the start of any Operating Year (or by the end of the fourth (4th) month after the Project Operations Date, in the case of an extension contemplated in Section 6.1), either Party may request that the relevant Annual Operating Plan and Budget be submitted to dispute resolution in accordance with Article XIII.


More Definitions of Project Operations Date

Project Operations Date means 06:00 on the day following the day on which the Complex has been fully constructed, tested, and commissioned and is determined by the Board to be prepared for the first delivery of Products. “Project Standards” shall have the meaning set forth in Section 15.1 (Project Standards). “Proposed Operating Plan” shall have the meaning set forth in Section 13.2(a) (Operating Plan). “Proposed Strategic Business Plan” shall have the meaning set forth in Section 13.1(a)(i) (Strategic Business Plan). “Proxy” shall have the meaning set forth in Section 8.2(c) (Meetings; Notice; Proxy). “PublicCo” shall mean a company that is formed in accordance with Applicable Law to hold, directly or indirectly, the PublicCo Acquisition Interest following the purchase of the PublicCo Acquisition Interest by the PublicCo Shareholder from the Saudi Aramco Founding Shareholder in accordance with Sections 5.2(a) (Sale of PublicCo Acquisition Interest; Initial Public Offering) and 19.2(a) (Permitted Transfers to PublicCo and Qualifying Affiliates). - 19 - “PublicCo Acquisition Interest” shall mean:
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Project Operations Date has the meaning given to such term in the Shareholders’ Agreement; “Purchase Price Shortfall” has the meaning given in Clause 5.12; “Replacement Rig” means an EXL class rig owned by Rowan which is to be contributed to the Company as a replacement for a Rig which has been materially damaged or which has suffered an Event of Loss, in accordance with this Agreement; “Replacement Rig Appraisal Procedure” has the meaning given in Part II of Schedule 1 (Valuation of Asset Contribution); “Rig Contribution Value” has the meaning given in Part II of Schedule 1 (Valuation of Asset Contribution); “Rig Management Agreement” means the relevant Rig Management Agreement (as defined in the Shareholders’ Agreement) between Rowan and the Company; “Rigs” means the rigs owned by Rowan and listed in Section 1 of Schedule 2 (Assets) and includes (as the context requires) any Replacement Rigs; “Rowan” has the meaning given in the Preamble; “Rowan Group” has the meaning given in Clause 7.1 (Indemnities); “Rules” has the meaning given in Clause 26.2 (Governing Law and Jurisdiction); “Saudi Aramco” has the meaning given in the Preamble, provided that in Schedule 13 (Specifications) a reference to Saudi Aramco means Saudi Aramco Customer; “Saudi Aramco Customer” has the meaning given to such term in the Shareholders’ Agreement; “Saudi Aramco Group” has the meaning given in Clause 7.1 (Indemnities); “SCA Survey” means a detailed Systems Condition Assessment conducted by the American Bureau of Shipping or another mutually agreed third party in accordance with the terms of reference set forth on Schedule 4 (SCA Survey Procedures), the costs of which shall be borne equally by Rowan and Saudi Aramco; “Shareholders” has the meaning given in the Preamble; 8 US-DOCS\80810184.2 Exhibit 2.1 “Shareholders’ Agreement” means that certain Shareholders’ Agreement relating to the Company, dated as of the date hereof, among Rowan, Saudi Aramco and the Company; “Shortfall Amount” means, in respect of a Replacement Rig, the difference between the Asset Contribution Value of such Replacement Rig (and its related Assets) and the Asset Contribution Value of the Rig (and its related Assets) for which such Replacement Rig is being contributed as a replacement; “Specifications” means: (i) in respect of the JB58 Rig, the material specifications set forth on Schedule 13 (Specifications); and (ii) in respect of each Rig other than the JB58 Rig, the material specifications contained in Schedule G of the Saudi A...
Sample 1

Related to Project Operations Date

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

  • Exploration Operations means any operations carried out for or in connection with the exploration for minerals, and includes -

  • Production Operations means all operations conducted for the purpose of producing Petroleum from the Development Area after the commencement of production from the Development Area including the operation and maintenance of all necessary facilities therefor.

  • Business operations means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.

  • Mining Operations means obtaining or extracting any mineral by any mode or method or any purpose directly or indirectly connected therewith or incidental thereto, including—

  • Farming operation means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.

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

  • Branch operations means any business operations of a branch captive insurance company in this State.

  • 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.

  • Railway Operation Date means the date of the first carriage of iron ore, freight goods or other products over the relevant Railway (other than for construction or commissioning purposes);

  • Joint Operations means all operations necessary or proper for the development, operation, protection and maintenance of the Joint Property.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Development Operations means operations conducted in accordance with the Development Plan and shall include, but not be limited to the purchase, shipment or storage of equipment and materials used in developing Petroleum accumulations, the drilling, completion and testing of Development Xxxxx, the drilling and completion of Xxxxx for Gas or water injection, the laying of gathering lines, the installation of offshore platforms and installations, the installation of separators, tankages, pumps, artificial lift and other producing and injection facilities required to produce, process and transport Petroleum into main Oil storage or Gas processing facilities, either onshore or offshore, including the laying of pipelines within or outside the Contract Area, storage at Delivery Point(s), the installation of said storage or Gas processing facilities, the installation of export and loading facilities and other facilities required for the development and production of the said Petroleum accumulations and for the delivery of Crude Oil and/or Gas at the Delivery Point and also including incidental operations not specifically referred to herein but required for the most efficient and economic development and production of the said Petroleum accumulations in accordance with modern oilfield and petroleum industry practices.

  • 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 Completion means the date, as determined by the Division after consultation with the Recipient, that operation of the Project is initiated or is capable of being initiated, whichever comes first.

  • joint operation means 2 or more joint holders must authorise any withdrawal, payment or transfer from the account (including a direct debit)

  • Farm operation means any activity conducted solely or primarily for the production of one or more agricultural products or commodities, including timber, for sale or home use, and customarily producing such products or commodities in sufficient quantity to be capable of contributing materially to the operator's support.

  • Commencement of Operations means the beginning of active operations by a qualifying business of the principal function for which a qualifying project was constructed.

  • Salvage operation means any business, trade or industry engaged in whole or in part in salvaging or reclaiming any product or material, including but not limited to metals, chemicals, shipping containers or drums.

  • Market Operations Center means the equipment, facilities and personnel used by or on behalf of a Market Participant to communicate and coordinate with the Office of the Interconnection in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region.

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Operational Control means Security monitoring, adjustment of generation and transmission resources, coordinating and approval of changes in transmission status for maintenance, determination of changes in transmission status for reliability, coordination with other Balancing Authority Areas and Reliability Coordinators, voltage reductions and load shedding, except that each legal owner of generation and transmission resources continues to physically operate and maintain its own facilities.

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

  • 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.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.