Construction Term Sample Clauses

Construction Term. Lessee shall have the right to extend the lease to provide for construction of the Solar Facility (the “Construction Term”). The Construction Term shall commence on the date specified in a written notice to Lessor that Lessee elects to initiate the Construction Term as of a date so specified in such notice, or the date the Lessee begins construction of the Solar Facility, whichever occurs earlier. The Construction Term shall expire on the earlier of the commencement of the Operations Term or termination of Lease. The Construction Term shall be for an initial period of one (1) year from the commencement of the Construction Term. ▇▇▇▇▇▇ and ▇▇▇▇▇▇ may mutually agree in writing to extend the Construction Term for an additional one (1) year term by written notice to the Lessor. Lessee shall have the unilateral right to terminate this Lease at any time during the Construction Term without penalty, subject to removal obligations in Exhibit B, Section B-6(g), upon written notice to Lessor; provided, however, that in the event of such termination, the Lessor is entitled to retain all payments made by Lessee prior to the date of such termination.

Construction Term. At all times from the date hereof to the Commercial Operation Date, Lessor shall maintain, or cause to be maintained, insurance as set forth in Schedule 11.3.

Construction Term. (a) Prior to the Commercial Operation Date, the risk of loss of or decrease in the enjoyment and beneficial use of the Leased Facility as a result of the damage or destruction thereof by fire, the elements, casualties, thefts, riots, wars or otherwise is assumed by Lessor, and Lessee shall not be answerable or accountable to Lessor therefor. (b) If an Event of Loss occurs prior to the Commercial Operation Date that results in: (i) less than $1,000,000 in physical loss, destruction or damage to the Facility in excess of any Loss Proceeds and/or Condemnation Award that Lessor receives or anticipates receiving in connection therewith, then Lessor shall be obligated to reconstruct or complete construction of the Facility in accordance with the requirements of Section 2.1; (ii) equal to or greater than $1,000,000 in physical loss, destruction or damage to the Facility in excess of any Loss Proceeds and/or Condemnation Award that Lessor receives or anticipates receiving in connection therewith, then Lessor shall be obligated to reconstruct or complete construction of the Facility in accordance with the requirements of Section 2.1, if and only if Lessee agrees to, and the PSCW approves, an increase in the “AALF” to be recovered in the Basic Rent formula by an amount equal to the additional Construction Costs incurred by or on behalf of Lessor to reconstruct or complete construction (including any costs incurred as a result of the time required to obtain PSCW approval), less the aggregate amount of any Loss Proceeds and/or Condemnation Award received by Lessor in connection therewith. The Required Commercial Operation Date shall be extended by a reasonable amount of time attributable to the time required to reconstruct or complete construction of the Facility (including any time required to obtain PSCW approval) and this Facility Lease and the other Lease Documents shall be amended as otherwise may be required by the Parties and approved by the PSCW; or (iii) In the event that Lessee and/or the PSCW does not approve an increase in the “AALF” in the Basic Rent formula as provided above, then Lessor may terminate this Facility Lease in accordance with Section 2.5. (c) If an Event of Total Loss occurs prior to the Commercial Operation Date, then Lessor may elect to terminate this Facility Lease in accordance with Section 2.5.

Construction Term. The period commencing on the date of this Agreement and continuing through the Conversion Date.

Construction Term. Upon the expiration of the Development Term, the term of this Agreement shall automatically extend and continue (“Construction Term”) until the earlier to occur of: (a) the date on which Tenant begins production of electrical energy generated by substantially all of the Solar Generating Equipment to be included in the Project or (b) the fourth (4th ) anniversary of the Effective Date. Upon the occurrence of either subsection (a) or (b), that date, as declared by Tenant, is hereunder referred to as the “Operations Date.”

Construction Term. The Development Term shall end upon the commencement of the Construction Term.

Construction Term. The “Construction Term” will commence on the day specified by the Tenant in a written notice to Landlord (“Construction Notice”) that Tenant will begin construction of the Hydrogen Project (the “Construction Commencement Date”) and will continue until the sooner of the Operations Date or the date that is one (1) year from the commencement of the Construction Term. In the event the Operations Date does not occur on or before one (1) year from the commencement of the Construction Term, the Construction Term shall automatically extend for another one (1) year, unless otherwise terminated in accordance with this Section 2.3, and shall expire at the end of the Construction Term as extended, or upon the occurrence of the Operations Date. For the sole purposes of calculating Fees and Rent (outlined in Table 1 below), the Construction Term shall expire and the Operations Term shall be deemed to have occurred, if it has not already then occurred, on the second (2nd) anniversary of the Effective Date; provided, however, that failure of the Operations Date to occur on or before such date shall not be an event of Default by Tenant. At any time during the Construction Term with written notice to Landlord, Tenant reserves the right to terminate this Lease in accordance with Section16.

Construction Term. Refers to the term required for the Contractor to complete the project stipulated in the contract agreement, including any changes on the term as concluded as per the contract.

Construction Term. The construction services of the PPAC as defined in section 5 of the Agreement are to commence upon execution of this Agreement by both parties hereto, and shall be completed by December 31, 2011. By mutual consent of the OFFTAKER and the PPAC, this Agreement may be renewed for one additional twelve-­‐ month period ending December 31, 2012. This option shall be automatically exercised unless written notice to the contrary is filed with either party not later than the first business day (Monday through Friday) of the calendar month in which the current agreement period expires. Such notice shall be transmitted by registered or certified mail.