Examples of Substation Completion in a sentence
Purchaser shall provide Seller notice of when it reasonably anticipates Substation Completion to occur no later than thirty (30) Days and not earlier than forty-five (45) Days in advance of Purchaser submitting notice to Seller of achieving Substation Completion and shall provide any completed documentation it has available so that Seller may commence its review.
Under the terms and conditions specified in this Agreement, beginning on the Substation Completion Date and for the remainder of the Term, Seller shall sell and deliver, or cause to be delivered, and Purchaser shall receive and purchase, the Contract Energy at the Points of Delivery.
From and after the Day immediately prior to the Substation Completion Date, Purchaser shall, by 6:00 a.m. Mountain time each Day, advise Seller of the amount of Contract Energy that Purchaser desires to receive and purchase from Seller in each hour of the immediately following Day (the “Purchaser Hourly Nomination”).
Upon completion of such corrective and remedial actions, Purchaser shall so notify Seller in writing and the foregoing procedures shall be repeated until the date Substation Completion has in fact been achieved and Seller has notified Purchaser of the same (the “ Substation Completion Date”).
Within fifteen (15) days after Seller has received notice of the achievement of Substation Completion and all required documentation, Seller shall either (a) notify Purchaser that Substation Completion has been achieved, or (b) notify Purchaser that Substation Completion has not been achieved, stating the reasons therefor as verified by Seller’s licensed engineer.
All approvals and consents of any Governmental Authority required for Seller to perform its obligations under this Agreement have been obtained or will be obtained on or before the Substation Completion Date.
Upon receipt thereof, Seller may conduct such investigations and inspections as Seller deems necessary or appropriate to determine if Substation Completion has been achieved.
Purchaser shall notify Seller when it believes that Substation Completion has been achieved, including with such notice the results of any testing performed and all other information necessary to demonstrate achievement of Substation Completion.
Commencing on the sixth (6th) anniversary of the Substation Completion Date, and each subsequent anniversary of the Substation Completion Date thereafter during the Term, the Contract Price will automatically increase by two percent (2%).
At least five (5) Days prior to the Substation Completion Date, and thereafter at least five (5) Days prior to the first (1st) Day of each Month, Purchaser shall provide Seller a written, non-binding forecast of the amount of Contract Energy that Purchaser desires to receive and purchase from Seller for each hour in the immediately following Month (or in the case of the first such forecast, in the Month in which the Substation Completion Date occurs) (the “Monthly Energy Nomination”).