Decommissioning Liability Sample Clauses

The Decommissioning Liability clause assigns responsibility for the costs and actions associated with dismantling, removing, and restoring a site or equipment at the end of its operational life. Typically, this clause specifies which party—such as the operator, owner, or lessee—must handle decommissioning activities and cover related expenses, often requiring financial assurances or plans to be in place before operations begin. Its core function is to ensure that decommissioning obligations are clearly allocated, preventing disputes and environmental or financial risks when a project or facility is retired.
Decommissioning Liability. For the avoidance of doubt, subject to the obligations of the Government under Exhibit D, nothing provided for in Exhibit D shall remove, vitiate or otherwise annul the obligation of any Party to meet in full its liability to pay its Paying Interest share of Decommissioning Costs in accordance with this Agreement. Each Party shall remain liable for due payment of all Cash Calls (as defined in the Unit Accounting Procedure) payable by it under this Agreement in respect of its liability for Decommissioning Costs and for meeting Trust Fund Cash Calls (including posting Complementary Security) payable by it under Exhibit D. In the event that the Security provided by the Parties pursuant to Article 12.3 and in accordance with the terms of Exhibit D is insufficient to meet Decommissioning Costs in full, each Party shall remain liable to pay its Paying Interest share of any outstanding Decommissioning Costs.
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Decommissioning Liability. All Decommissioning Liabilities of Seller or any of its Affiliates, calculated as a percentage (based upon the FPL Ownership Interest) of the total Decommissioning Liability for all tangible Plant Assets, regardless of whether such Decommissioning Liabilities relate to pre-Closing or post-Closing Decommissioning Liabilities (as determined by application of the FERC Uniform System of Accounts upon the Decommissioning of the Plant Assets). “Decommissioning” means all activities associated with, related to, or arising from the dismantling and removal of Plant ▇▇▇▇▇▇ and the restoration of the Plant Site and any Decommissioning Liabilities necessary to maintain Plant ▇▇▇▇▇▇ and the Plant Site in a safe condition under any applicable Laws (including Environmental Laws) and any other legally binding obligations, all of which shall be in MPC’s reasonable discretion.
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Decommissioning Liability. Under Canadian GAAP, the decommissioning liability is discounted based on the credit adjusted risk-free rate. Under IFRS, the decommissioning liability is discounted based on the current risk-free discount rate. Accordingly, the Company recorded an adjustment to increase the decommissioning liability by $84,457 on October 1, 2010; a increase of $43,198 as of December 31, 2010; and an increase of $66,431 as of September 30, 2011. IFRS 1 provides the option to measure the restoration provision at the Transition Date in accordance with the requirements of IAS 37. Accordingly the Company re-measured the provisions as at Transition Date under IAS 37, Provisions, Contingent Liabilities and Contingent Assets, and estimated the amount to be included in the cost of the related asset by discounting the liability to the date which the liability first arose. Effective October 1, 2011, the Company changed its presentation currency from the CAD to the USD. The Company believes the USD reporting provides better information regarding the Company’s results of operations and related business activities. USD reporting is expected to improve shareholders’ ability to compare the Company’s financial results with other publicly traded companies in the mining industry whose primary assets and operations are located in the United States. Prior to October 1, 2011, the Company reported its annual and quarterly statement of financial position and the related consolidated statements of comprehensive loss, statement of shareholders equity and consolidated statement of cash flows in CAD. In making this change, the Company followed the guidance of the International Accounting Standards Board (“IASB”) as set out in IAS 21, The Effects of Changes in Foreign Exchange Rates (“IAS 21”). As indicated in IAS 21 the following procedures were followed in the change of presentation currency:
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Related to Decommissioning Liability

  • Decommissioning (a) The Contractor shall submit to the Designated Authority, for its approval, pursuant to sub-paragraph 4.11(d)(v), a Decommissioning Plan for the Development Area and a schedule of provisions for the Decommissioning Costs Reserve. (b) The Decommissioning Plan shall be revised and resubmitted to the Designated Authority for its approval at such times as are reasonable having regard to the likelihood that the Decommissioning Plan (including cost estimates thereunder) may need to be revised. (c) The Contractor shall carry out the Decommissioning Plan substantially in accordance with its terms. (d) Estimates of the monies required for the funding of the Decommissioning Plan shall be charged as Recoverable Costs beginning in the Calendar Year following the Calendar Year in which Commercial Production first occurs. The amount charged in each Calendar Year shall be calculated as follows: (i) The total Decommissioning costs at the expected date of Decommissioning shall first be calculated. (ii) There shall be deducted from such total Decommissioning costs the additions made to the Decommissioning Costs Reserve made, and taken as Recoverable Costs, in all previous Calendar Years together with interest on such Recoverable Costs calculated to the approved date of Decommissioning at the actual or forecast rate of Uplift (whichever is applicable). (iii) The residual Decommissioning costs, resulting from the calculations under sub-paragraph 4.14(d)(i) and (ii), shall then be discounted to the Calendar Year in question at the forecast rate of Uplift for each Calendar Year remaining until the Calendar Year of Decommissioning. (iv) The discounted total of residual Decommissioning costs shall then be divided by the total number of Calendar Years remaining prior to the Calendar Year of Decommissioning itself, including the Calendar Year in question. (v) The resultant amount shall be the addition to the Decommissioning Costs Reserve for the Calendar Year in question. (vi) It is the intention of this provision that the total accumulated provision allowed, including interest calculated to the Calendar Year of Decommissioning at the rate of Uplift, will equal the total Decommissioning costs. (vii) If the amount in sub-paragraph 4.14(d)(v) is a negative amount, then such amount shall be treated as a reduction of Recoverable Costs for the Calendar Year in question.

  • Participating TO’s Interconnection Facilities The Participating TO shall design, procure, construct, install, own and/or control the Participating TO’s Interconnection Facilities described in Appendix A at the sole expense of the Interconnection Customer. Unless the Participating TO elects to fund the capital for the Participating TO’s Interconnection Facilities, they shall be solely funded by the Interconnection Customer.

  • Cost Responsibility for Interconnection Facilities and Distribution Upgrades 4.1 Interconnection Facilities 4.2 Distribution Upgrades

  • BUILDER’S RISK FOR CONSTRUCTION RENOVATION PROJECTS If the project is CONSTRUCTION RENOVATION of an existing structure, and the State has already determined that Contractor will not be obligated to obtain and maintain Builder’s Risk insurance, then the following provisions apply: (1) The State will maintain property insurance upon the construction site and will not require Contractor to purchase and maintain Builder's Risk Insurance upon the entire work at the site. (2) The decision of the State to waive the requirement that the Contractor maintain builder’s risk coverage does not waive Contractor’s liability for damage to the State’s real and personal property. Contractor’s liability for loss to the State’s real and personal property will be limited to the first $100,000 of each and every property loss at the work site provided such loss is covered under the State’s property insurance coverage. If the Contractor elects to meet this obligation by purchase of commercial insurance, this insurance shall name the Contractor and the State of Vermont as Named Insureds and shall include the interests of the Contractor and Subcontractors. Other parties shall be insured as the State may reasonably require. (3) Contractor shall effect and maintain insurance on portions of the work stored off-site, on site and in transit. Boiler & Machinery Insurance may be used in conjunction with this coverage if it is required to meet the testing requirement. The cost of any deductible applicable to loss covered by insurance provided hereunder shall be borne by the Contractor. (4) Except as provided for in 11.2.2 (1)-(3) above the State and Contractor waive all rights against each other and the Subcontractor, Sub-subcontractors, agents and employees of the other.

  • Operating Environment Per specifications given in Ref. [1]