Commercial Operation Date (COD Sample Clauses
The Commercial Operation Date (COD) clause defines the specific date when a project, facility, or asset is considered fully operational and capable of delivering its intended service or output. In practice, this clause typically outlines the criteria that must be met for the project to be declared commercially operational, such as successful completion of testing, regulatory approvals, and the ability to deliver products or services at agreed standards. The core function of the COD clause is to establish a clear milestone that triggers key contractual obligations, such as payment schedules, performance guarantees, or the commencement of warranties, thereby ensuring all parties have a shared understanding of when commercial operations officially begin.
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Commercial Operation Date (COD. 15.1.1 The Project shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Project shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Annuity Payments in accordance with the provisions of this Agreement.
Commercial Operation Date (COD. The Commercial Operation Date (COD) shall mean the immediate date upon completion of moratorium period or commercial operation date of the station, whichever is later.
Commercial Operation Date (COD from Bus Terminal and Commercial Complex shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Bus Terminal and Commercial Complex shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Fee in accordance with provisions of Article 27 and that the entry of Bus Terminal or part thereof into commercial service shall always be subject to compliance with the provisions of Clause 18.3 and Clause 26.2.
Commercial Operation Date (COD. The development of Bus Terminal shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Bus Terminal shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the "COD of Bus Terminal"). Further, the commercial operation of the Commercial Complex shall be achieved on or before the expiry of 2555th days from the Appointed Date ("COD of Commercial Complex"). Further, notwithstanding anything mentioned in Article 15, the COD of Commercial Complex shall not be deemed to have been achieved until the Completion Certificate for Bus Terminal has been obtained by the Concessionaire. The Bus Terminal shall enter into commercial service post issuance of the Completion Certificate or the Provisional Certificate whereupon the Concessionaire shall be entitled to demand and collect charge(s) in accordance with provisions of Article 26 and that the entry of Bus Terminal or part thereof into commercial service shall always be subject to compliance with the provisions of Clause 26.1.
Commercial Operation Date (COD. 15.1.1 The Project shall be deemed to complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Project shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect the Annuity Payments in accordance with the provisions of this Agreement.
15.1.2 In the event that the Authority prevents, or causes to be prevented, or in any manner delays the entry of the Project into commercial service after issuance of Completion Certificate or the Provisional Certificate, as the case may be, or where such delay occurs in the issuance of such certificate by the Independent Engineer for any reason attributable to the Independent Engineer or the Authority, as the case may be, the Concessionaire may declare COD and notify the Authority forthwith. In the event of any Dispute relating to the declaration of COD hereunder, the Dispute Resolution Procedure shall apply.
Commercial Operation Date (COD. The Construction Works of the Project shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date which is notified on such Completion Certificate or the Provisional Certificate is issued by the Independent Engineer (the “COD”). The Project shall enter into commercial service on COD, whereupon the Concessionaire shall be entitled to receive the Obligated Quantity of MSW from the Participating ULBs and the Project shall be able to inject Contracted Capacity to Grid as per the APERC Grid Code as amended from time to time.
Commercial Operation Date (COD. The Rail System shall be deemed to be complete when the [safety certificate/ commercial service certificate] have been issued under the provisions of Clause 14.4.Accordingly the commercial operation date of the Rail System shall be the date on which the [the safety certificate/ commercial service certificate]is issued (the “COD”). The Rail System shall enter into commercial service on COD whereupon MOR shall provide the Reserved Services and make payment of User Fee to the Concessionaire in accordance with this Agreement, provided however, that the entry of Rail System into commercial service shall always be subject to compliance with the provisions of Clause 14.4.
Commercial Operation Date (COD. 15.1.1 The Project shall be deemed to be complete only when the Completion Certificate is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate is issued (the "COD"). For avoidance of doubt, the Project shall not be deemed to be complete when the Phased Completion Certificate(s) are issued to the Concessionaire. The Project shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Annuity Payments in accordance with the provisions of this Agreement.
15.1.2 The Concessionaire shall be eligible for release of O&M payments for Phased Completion only after achieving COD.
15.1.3 Such O&M payment shall be calculated on a pro-rata basis for each of the Units within the Project Site(s) that would have achieved Phased Completion, calculated from the relevant date of Phased Completion and till the COD, and worked out as a function of the First Year O&M Cost, the estimated O&M Payment as applicable for the construction period and the aggregate number of Units for which such O&M payment is payable.
15.1.4 For avoidance of doubt: A. Let us assume that 50 Sites achieve Phased Completion on the 120th day from the Appointed Date and these 50 Sites have, between them have 400 Units (i.e., seats/service counters), and B. Let us also assume that the First Year O&M Cost is Rs. 25 Crore for say 2300 seats/service counter under consideration.
Commercial Operation Date (COD. 15.1.1 The Project, shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued for the respective phase under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate for phase-1 is issued (the “COD”). The Project shall enter into commercial service on COD whereupon the Concessionaire, its authorised representatives or the sub-licensees/lessee, under valid and subsisting sub-licensing agreements, shall be entitled to demand and collect Fee, provided however, that the entry of Project into commercial service shall always be subject to compliance with the provisions of Clause 14.8.
15.1.2 In the event that the Authority prevents, or causes to be prevented, or in any manner delays the entry of the Project into commercial service after issuance of Completion Certificate or the Provisional Certificate, or where such delay occurs in the issuance of the Completion Certificate or the Provisional Certificate by the Independent Expert for any reason attributable to the Independent Expert or the Authority, as the case may be, the Concessionaire may declare COD and notify the Authority forthwith. In the event of any Dispute relating to the declaration of COD hereunder, the Dispute Resolution Procedure shall apply. For subsequent phases of development after COD, if there is a delay in issuance of Completion Certificate or the Provisional Certificate for reasons specified above, the Concessionaire may commence the commercial operations.
Commercial Operation Date (COD. The Rail System shall be deemed to be complete when the [safety certificate/ commercial service certificate] have been issued under the provisions of Clause