Decommissioning Assurance. No later than the beginning of the nineteenth (19th) year of the Operations Period, Provider shall establish the Decommissioning Assurance, and shall se1ect the form and amount of such Decommissioning Assurance, subject to the approval of Host, not to be unreasonably withheld, conditioned or delayed. Failure to timely establish and/or fund in accordance with this paragraph such Decommissioning Assurance shall constitute a Provider Event of Default, for which the Host shall be entitled to exercise any of the remedies for default afforded under Section 19.
Decommissioning Assurance. Prior to the issuance of the Notice of Commercial Operation, Owner shall establish and maintain thereafter Decommissioning Assurance. If the Owner has satisfied its obligations to remove the System and restore the Premises as set forth in Section 3.7 of the Energy Management Services Agreement, the User shall promptly return such Decommissioning Assurance to the Owner. In the event Owner fails to remove the System or restore the Premises as set forth in Sections 3.7, 7.3, 8.3 or 8.4, as applicable, of the Energy Management Services Agreement, User may retain the Decommissioning Assurance. The parties agree that the form of Decommissioning Assurance attached as Exhibit H to the Energy Management Services Contract has been preapproved by the User and Owner.
Decommissioning Assurance. Upon the issuance of the Notice of Commercial Operation, Contractor shall establish and maintain thereafter adequate financial assurance, in substantially the form set forth in Exhibit G hereto, or another form reasonably acceptable to the User, to fully cover the cost of decommissioning the PV System and restoring the Premises as specified in this Agreement (such assurance, the “Decommissioning Assurance”). Depending on the circumstances, and subject to User’s approval, appropriate forms of financial assurance may include, without limitation, an escrow fund, irrevocable letter of credit, surety bond or third party guaranty; provided, however, that any form of financial assurance must provide User with adequate rights to access the Decommissioning Assurance in the event of Contractor’s failure to comply with its PV System removal and Premises restoration obligations under the Agreement. The guaranteed Decommissioning Assurance amount for the PV System is set forth in Exhibit C.
Decommissioning Assurance. Upon the issuance of the Notice of Commercial Operation, Lessee shall establish and maintain thereafter the Decommissioning Assurance.
Decommissioning Assurance. Upon the issuance of the Completion Notice, System Owner shall establish and maintain thereafter adequate financial assurance, in a form subject to the reasonable approval of Host, to fully cover the cost of decommissioning the System and restoring the Leased Area as specified in this Agreement and the Lease. Appropriate forms of financial assurance may include, without limitation, an escrow fund, irrevocable letter of credit, surety bond or third party guaranty, which third party guaranty shall be approved by Host; provided, however, that any form of financial assurance must provide Host with adequate rights to access the Decommissioning Assurance in the event of System Owner’s failure to comply with its System removal and Leased Area restoration obligations under the Agreement, even if System Owner is Bankrupt.
Decommissioning Assurance. Optionee must provide adequate financial assurance, in a form reasonably satisfactory to the Owner, to fully cover the cost of decommissioning the PV System and restoration of the underlying property.
Decommissioning Assurance. No later than the beginning of the nineteenth (19th) year of the Operations Period, Provider shall establish the Decommissioning Assurance, and shall se1ect the form and amount of such Decommissioning Assurance, subject to the approval of Host, not to be unreasonably withheld, conditioned or delayed. Failure to timely establish and/or fund in accordance with this paragraph such Decommissioning Assurance shall constitute a Provider Event of Default, for which the Host shall be entitled to exercise any of the remedies for default afforded under Section 19 (g) Provider shall post City’s Notice of Non-Responsibility on the Premises as required by the City.
Decommissioning Assurance. Not later than thirty (30) days after the Effective Date, Host shall deposit and maintain on deposit for the full Term of this Agreement, the full amount of the Decommissioning Assurance into an interest-bearing deposit account at a bank located in the Commonwealth of Massachusetts. Host shall provide to Nexamp the account number of such deposit account and shall provide current statements to Nexamp not later than sixty (60) days after its request for such statements. SECTION 10.
Decommissioning Assurance. Upon the issuance of the Notice of Commercial Operation, Developer’s obligation to provide Development Security shall cease and the funds in the Deposit Control Account shall instead be used to cover the cost of decommissioning the PV System and restoring the Premises as specified in this Agreement (such assurance, the “Decommissioning Assurance”). Within one hundred eighty (180) days receipt of Notice of Commercial Operation, CVEC will determine (using Good Engineering Practice) that if the amount of Development Security is sufficient to cover the costs of the cost of decommissioning the PV System and restoring the Premises. If there is a shortfall, Developer will provide additional funds within sixty (60) days of receipt of the shortfall notice from CVEC. CVEC may draw upon the Decommissioning Assurance in the event of Developer’s failure to comply with its PV System removal and Premises restoration obligations under the Inter-Governmental PDA.
Decommissioning Assurance. Prior to the issuance of the Notice of Commercial Operation, Developer shall establish and maintain thereafter Decommissioning Assurance. If the Developer has satisfied its obligations to remove the System and restore the Premises as set forth in Section 3.7 of the Energy Management Services Agreement, Town shall promptly return such Decommissioning Assurance to the Developer. In the event Developer fails to remove the System or restore the Premises as set forth in Sections 3.7, 7.3, 8.3 or 8.4, as applicable, of the Energy Management Services Agreement and this SLP, Town may retain the Decommissioning Assurance. The parties agree that the form of Decommissioning Assurance attached as Exhibit H to the Energy Management Services Contract has been preapproved by Town and Developer.
