First Contract Year definition

First Contract Year has the meaning given in the definition of "Contract Year".

First Contract Year shall have the meanings given those respective terms set forth in Section 2(b) of this Agreement.

First Contract Year means the period commencing on January 1 in the year following the year in which the Start-up Date occurs and ending on the immediately following 31 December.

Examples of First Contract Year in a sentence

• In the event that the Successful Bidder, which is a Single Bidder, chooses not to incorporate an SPV, then the shareholders of the Successful Bidder, as on the date of submission of the Bid, should continue to hold at least fifty one percent (51%) of the total Paid-up Share Capital with voting rights of the Successful Bidder until the expiry of First Contract Year.

• If the Successful Bidder is a Single Bidder and chooses to incorporate an SPV, then the Successful Bidder shall subscribe and hold at least fifty one percent (51%) of the Paid-up Share Capital with voting rights of SPV from the date of incorporation of the SPV until the expiry of First Contract Year.

• If the Successful Bidder is a Consortium, then the all the members of the Consortium together shall subscribe and hold at least fifty one percent (51%) of the Paid-up Share Capital with voting rights of SPV in aggregate and the Lead Member of the Consortium shall subscribe and hold at least twenty six percent (26%) of the Paid-up Share Capital with voting rights of SPV from the date of incorporation of the SPV until the expiry of First Contract Year.

• Any change in the shareholding after the expiry of First Contract Year can be undertaken in concurrence with APDCL In the event the Bidder is in default to its lenders, then the lenders shall be entitled to undertake “Substitution of Promoters” in concurrence with APDCL.

• Except as specifically permitted in accordance with the Bidding Document, the members of the Consortium shall not amend, vary or terminate the JBA at any time during the validity period of the Bid and thereafter, until the expiry of First Contract Year, without the prior written consent of APDCL.

More Definitions of First Contract Year

First Contract Year as defined in Section ‎4.5(a);

First Contract Year means the period commencing on the date of this Agreement and ending on December 31, 2008;

First Contract Year means the period of time from and including the Effective Date through and including December 31, 2012.

First Contract Year as defined in Clause 3.2.1;

First Contract Year means the twelve (12) month period commencing on the Effective Date; the term “Second Contract Year” shall mean the twelve (12) month period commencing on the first anniversary of the Effective Date; and the term “Third Contract Year” shall mean the twelve (12) month period commencing on the second anniversary of the Effective Date (each, a “Contract Year”).

First Contract Year means the period of time from the Transfer Date to May 31, 1999.

First Contract Year means the period from the Distribution Date ------------------- until December 31, 1999. "Fixed Costs" means those costs which do not vary directly with units ----------- of production or usage, as further described in Section 5.01(b).