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 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...
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Examples of Project Operations Date in a sentence

  • 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.

  • As such, the NPPF establishes that substantial weight should be given to any harm to the Green Belt.

  • Operator shall develop and deliver to Owner for approval, budgets for the mobilization periods commencing on the earlier of the Leased Equipment Mobilization Date and the Project Mobilization Date, respectively, and ending on the Project Operations Date.

  • 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.

  • For clarification and not in limitation of the foregoing, the obligation of Buyer to purchase the Target Annual Contract Quantity of Renewable ATJ hereunder during the Term following the Interim Project Operations Date is a “take or pay” obligation and fully binding upon and enforceable against Buyer throughout the Term, all as more further described in Section 3.3.

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

  • If, during any year of the Term following the Interim Project Operations Date, Seller makes sufficient quantities of Renewable ATJ available but Buyer fails to purchase ninety percent (90%) of the applicable Target Annual Contract Quantity, Buyer shall pay to Seller an amount equal to (i) the Annual Average Spot Price multiplied by (ii) the Shortfall Quantity.

  • 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.

  • 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.


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 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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Related to Project Operations Date

  • Drilling operations means the drilling of an oil and gas well and the production and completion operations ensuing from the drilling which require entry upon the surface estate and which were commenced after June 30, 1979, and oil and gas geophysical and seismograph exploration activities commenced after June 30, 1983.

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

  • Revenue Operations Date (ROD) means the date of operation of Metro

  • Exploration Operations means operations conducted in the Contract Area pursuant to this Contract in searching for Petroleum and in the course of an Appraisal Programme and shall include but not be limited to aerial, geological, geophysical, geochemical, palaeontological, palynological, topographical and seismic surveys, analysis, studies and their interpretation, investigations relating to the subsurface geology including structural test drilling, stratigraphic test drilling, drilling of Exploration Xxxxx and Appraisal Xxxxx and other related activities such as surveying, drill site preparation and all work necessarily connected therewith that is conducted in connection with Petroleum exploration.

  • 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 every kind of work done by the Operator:

  • Railway Operation means the construction and operation under this Agreement of the relevant Railway and associated access roads and Additional Infrastructure (if any) within the relevant Railway Corridor and of the associated Lateral Access Roads, in accordance with approved proposals;

  • 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 those operations and activities carried out by Operator pursuant to this Agreement, the costs of which are chargeable to all Parties.

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

  • Generation Operations Center means the location of Buyer’s real-time operations personnel.

  • 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 completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Morley Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • 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, with respect to any Facility, the completion and the performance of all of the following activities:

  • 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 date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • 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;