QCiL Operations Cessation Event definition

QCiL Operations Cessation Event. “Qualifying Shutdown Event”, “Required Authorisation” and “Specific Change in Law”;
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QCiL Operations Cessation Event has the meaning given to that term in item 4.12 (Qualifying Change in Law Termination).
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QCiL Operations Cessation Event means a Qualifying Change in Law which is implemented, occurs or becomes effective after the Start Date and which will permanently prevent the Generator, acting in accordance with a Reasonable and Prudent Standard, from operating the whole of the Facility by virtue of such operation becoming illegal;
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Examples of QCiL Operations Cessation Event in a sentence

  • The QCiL Operations Cessation Event provisions (including the compensation provisions) of the DPA will need to distinguish between QCiL Operations Cessation Events that shut down i) the whole Facility (i.e. the Power Plant and Capture Plant) and ii) only the Capture Plant (where it is technically feasible for the relevant Generator to continue running the Power Plant unabated).

  • Qualifying Shutdown Events: For shutdown events, BEIS intends to follow the AR3 CfD, providing a level of compensation for a Generator if a "QCiL Construction Event" (i.e. a change in law which by its nature prevents a Project which is still in construction from reaching the Start Date) or a "QCiL Operations Cessation Event" (i.e. a change in law which renders it illegal for a Project to continue operating) occurs.

Related to QCiL Operations Cessation Event

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • SOFR Index Cessation Event means the occurrence of one or more of the following events:

  • €STR Index Cessation Event means the occurrence of one or more of the following events, as determined by the Issuer and notified by the Issuer to the Calculation Agent:

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • Benchmark Modification or Cessation Event means, in respect of the Benchmark any of the following has occurred or will occur:

  • Commercial Operation Date means the date on which the Facility achieves Commercial Operation.

  • SOFR Index Cessation Effective Date means, in relation to a SOFR Index Cessation Event, the date on which the Federal Reserve Bank of New York (or any successor administrator of the daily Secured Overnight Financing Rate) ceases to publish the daily Secured Overnight Financing Rate, or the date as of which the daily Secured Overnight Financing Rate may no longer be used;

  • OBFR Index Cessation Effective Date means, in relation to an OBFR Index Cessation Event, the date on which the Federal Reserve Bank of New York (or any successor administrator of the daily Overnight Bank Funding Rate) ceases to publish the daily Overnight Bank Funding Rate or the date as of which the daily Overnight Bank Funding Rate may no longer be used;

  • €STR Index Cessation Effective Date means, in respect of an €STR Index Cessation Event, the first date on which €STR is no longer provided by the European Central Bank (or any successor administrator of €STR), as determined by the Issuer and notified by the Issuer to the Calculation Agent;