Firm Operation Sample Clauses
The Firm Operation clause defines the rules and procedures governing how a business or firm is managed and conducts its daily activities. It typically outlines the roles and responsibilities of key personnel, decision-making processes, and the scope of authority for managers or partners. For example, it may specify who can enter into contracts on behalf of the firm or how operational decisions are approved. This clause ensures that there is a clear framework for running the firm, reducing confusion and disputes over management authority and operational procedures.
Firm Operation. The date agreed on by the Parties on which each generating unit(s) of the Generating Facility is determined to be a reliable source of generation and on which such unit can be reasonably expected to operate continuously at its effective rating (expressed in kW).
Firm Operation. The date upon which the Parties agree testing of the first generating unit has been completed and the unit is capable of commercial operation.
Firm Operation. The date agreed on by the parties to the PPA on which each Facility is determined to be a reliable source of generation and on which such unit can be reasonably expected to operate continuously at its effective rating (expressed in kW). Firm Operation shall be demonstrated by a seventy-two (72) hour continuous demonstration test at 85% of the Contract Capacity.
Firm Operation. The state of completion at which a component of the Navajo Project is determined by the appropriate engineering and operating committee to be reliable and at which that component can reasonably be expected to operate continuously at its rated Capacity.
Firm Operation. The original "firm operation date" under each of the Power Purchase Agreements occurred as set forth on Schedule 4.12.
Firm Operation. The date in `1984 mutually agreed to by the Parties on which the generating unit(s) of Customer's Generating Facility is determined to be a reliable source of Energy and Capacity.