CommercialOperation Date(COD) Clause Samples

CommercialOperation Date(COD). 15.1.1 The Project,shallbe deemed to be complete whenthe CompletionCertificate is issued for the New Facilities under the provisions of Article 14. The initial commercial operation date of the Project shall be the Appointed Date (the “Provisional COD”), whereupon the Concessionaire, its authorised representatives or thesub-licensees/lessee, under valid and subsisting sub-licensing agreements, shall be entitled to demandand collect Fee. The final commercial operation date of the Project shall be the date on which CompletionCertificate for the New Facilities is issued (the “Final COD”). The New Facilities shall enterinto commercial service on Final COD whereupon the Concessionaire, its authorized representatives or thesub-licensees/lessee, under valid and subsisting sub-licensing agreements, shall be entitled to demandand collect Fee, provided however, that the entry of Project into commercial service shall always besubjecttocompliancewiththeprovisionsofClause 14.3. 15.1.2 In the event that the Authority prevents, or causes to be prevented, or in any manner delays the entry oftheProjectintocommercialserviceafterthehandover of Existing Facilities and/or after issuance of Completion Certificate for any reason attributable to the Independent Expert or theAuthority, as the case may be, the Concessionaire may declare Provisional COD/ Final COD (as the case may be) and notify the Authority ▇▇▇▇▇▇▇▇▇.▇▇ the event of any Dispute relating to the declaration of Provisional COD or Final COD hereunder, the Dispute ResolutionProcedure shall apply.