Developer/Operator Clause Samples

Developer/Operator. Ormat shall be responsible for and shall lead all Development Phase activities. Ormat shall provide the Management Committee with periodic progress reports (as frequently as monthly if merited) during the Development Phase. Ormat shall also be the Operator and project manager for the Project, with responsibility and authority for all day to day management and operations of the Project, subject to the oversight responsibility of the Management Committee. Notwithstanding the foregoing, Ormat shall consult with NGP on a monthly basis to the extent practical and shall seek to utilize NGP's available resources and talents in relation to geological and drilling matters, permitting, financing, and PPA contracting where necessary to complement Ormat's services. Any development services provided by Ormat or NGP to CGC shall be billed to CGC at the rates set forth in Schedule III hereto (which shall be in effect for 12 months from the date of this Letter Agreement and thereafter subject to adjustment by agreement of the Parties). The O&M fee for serving as an Operator shall be comprised of a fixed fee and a cost plus fee, escalated on the basis of annual CPI.