Spares Stock definition

Spares Stock means the stock of Spare Parts to be maintained to the quantity specified in Schedule 6 (Spare Parts) or if no quantity is specified, at the quantity necessary for the performance of the O&M Services in accordance with this Agreement.
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Spares Stock means the stock of spare parts for the Facility provided by, at the option of the Project Company, the Supplier pursuant to the Supply Agreement.
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Spares Stock has the meaning given to it in Clause 4.7(a) (Spare Parts).
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Examples of Spares Stock in a sentence

  • If identified as applicable in the Key Information Table, the Project Company shall as a pre-condition to the Commencement Date under Clause 2.2(c) (Commencement Date), procure and ensure that the Spares Stock is available to the O&M Contractor for use in the Scheduled Maintenance Services, Corrective Maintenance Services and Monitoring Services.

  • The Spares Stock delivered by the Project Company under Clause 3.6 (Spares Stock) shall be the property of the Project Company.

  • Subject to Clauses 3.6 (Spares Stock), 3.10 (Included Spare Parts) and 3.11 (Excluded Spare Parts), the Contract Price is inclusive of all costs incurred by the O&M Contractor in relation to performing the Scheduled Maintenance Services, the Corrective Maintenance Services and the Monitoring Services.

  • Delivery of the Spares Stock is only a relevant pre-condition to the Commencement Date if the Commencement Date is anticipated to occur before the expiry of the Defects Warranty Period, as Spares Stock are those procured by the Project Company from the Supplier.

  • The O&M Contractor must ensure that all Spare Parts are clearly labelled and identified in a log, updated when Spare Parts are received into or withdrawn from the Spares Stock and that all Spare Parts are clearly identifiable as belonging to the Project Company to ensure opposability to third Parties under the Law of the jurisdiction where the Spare Parts are stored.

  • Every Component Part procured by the O&M Contractor and used in the O&M Services shall become the property of the Project Company from delivery to the Site or placement in the Spares Stock as applicable (or in the case of Excluded Spare Parts on the later of delivery to the Site and the date that payment is received by the O&M Contractor in accordance with Clause 17 (Payment)).

  • Where either Party is responsible for managing, replacing and replenishing Spare Parts to the Spares Stock in accordance with this Agreement, it must do so, so as to maintain the quantity of Spare Parts specified in Schedule 6 (Spare Parts) or where no such quantities are specified, at the quantity necessary for the performance by the O&M Contractor of the O&M Services in accordance with this Agreement.

  • The O&M Contractor must carry out a stock check of the Spares Stock at least quarterly.

  • If the Project Company has exercised its option to purchase spare parts as Spares Stock from the Supplier, the Price shall be increased as set out in Schedule 3 (Price and Payment Schedule).

  • The list of Spares Stock includes the Supplier's prices (including without limitation the details of any costs for delivery in accordance with the Applicable Incoterm for each item.) Not later than fifteen (15) Business Days following the Commencement Date, the Project Company shall either: instruct the Supplier to order the Spares Stock and supply the Spares Stock as part of the Supply Works; or notify the Supplier that the Project Company shall procure the Spares Stock from third party suppliers.