Guaranteed Commercial Operation Date Sample Clauses
The Guaranteed Commercial Operation Date clause sets a specific deadline by which a project, typically in the energy or infrastructure sector, must achieve full operational status. This clause outlines the expectations for when the facility should be capable of delivering its intended output, and may include provisions for penalties or remedies if the deadline is not met. Its core function is to ensure timely project completion and provide certainty to all parties regarding when the project will be operational, thereby managing risk and aligning expectations.
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Guaranteed Commercial Operation Date. Seller shall have demonstrated Commercial Operation no later than twelve (12) calendar months after the Effective Date (the “Guaranteed Commercial Operation Date”); provided that the Guaranteed Commercial Operation Date may be extended on a day for day basis for not more than three hundred sixty (360) days in the event of Force Majeure (“FM Extension”), provided that Seller works diligently to resolve the effect of the Force Majeure and provides evidence of its efforts promptly to Buyer upon ▇▇▇▇▇’s written request. If Seller claims an FM Extension, Seller shall provide Buyer with sixty (60) days Notice prior to the original date of the Guaranteed Commercial Operation Date, which Notice must include information necessary for Buyer to verify the length and qualification of the extension; provided that if sixty (60) days in impracticable or impossible, Seller shall provide Notice as soon as possible thereafter.
Guaranteed Commercial Operation Date. The Parties agree time is of the essence in regards to the Agreement. As such, Seller shall have demonstrated Commercial Operation per the terms of Appendix IV-2 by the date that is no later than twenty-four (24) months after the Effective Date of this Agreement, except as such date may be extended on a day for day basis for not more than a cumulative six (6) month period for a Permitted Extension (the “Guaranteed Commercial Operation Date”).
Guaranteed Commercial Operation Date. Seller shall have demonstrated Commercial Operation no later than [__________] (the “Guaranteed Commercial Operation Date”).
Guaranteed Commercial Operation Date. March 1, 2027
a. Failure to achieve commercial operation by March 1st will result in liquidated damages of $30,000/per day to RPU.
b. Failure to achieve commercial operation by the Outside Commercial Operation Date – September 1, 2027; RPU has the right 8
Guaranteed Commercial Operation Date. Subject to any extensions made pursuant to Section 2.4 and Section 2.5, the Commercial Operation Date must be no later than eighteen (18) months from the Effective Date (the “Guaranteed Commercial Operation Date”).
Guaranteed Commercial Operation Date. The Guaranteed Commercial Operation Date shall be the date which is one hundred and twenty (120) days from the Expected Commercial Operation Date.
Guaranteed Commercial Operation Date. (a) Seller shall cause the Project to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date, unless extended in accordance with Section 4.10(b) and Section 4.13.
(b) The Guaranteed Commercial Operation Date will be extended on a day for day basis for the following delays (each an “Excused Delay”):
(i) Physical interconnection to the Solar-Storage Direct-Coupling Point cannot be completed by the Guaranteed Commercial Operation Date, where such delay is not the result of any action or inaction by Seller;
(ii) Seller is unable to obtain or cause to be obtained Governmental Approvals necessary for the construction of the Project to commence by August 31, 2020;
(iii) A Force Majeure Event delays Commercial Operation of the Project;
(iv) The commissioning of the ESS and Solar Facility coupling facilities are delayed due to issues related to the Solar Facility; and
(v) Construction of Buyer’s Interconnection Facilities or required upgrades to Buyer’s Distribution System have not been completed by September 30, 2020.
Guaranteed Commercial Operation Date. Subject to Force Majeure Events, if Seller has not achieved Commercial Operation by the Guaranteed Commercial Operation Date, Buyer may choose to either (a) terminate this Agreement without costs or damages to either Party; or (b) elect to continue to the Agreement and be entitled to COD Delay Damages for a period of up to twelve (12) months, after which Seller shall be entitled to terminate the Agreement without additional costs or damages other than the COD Delay Damages owned to date. If Seller fails to timely pay any COD Damages, Buyer may draw upon the Development Security to satisfy Seller’s payment obligation thereof. The payment of COD Delay Damages shall be considered to be liquated damages and shall be the sole and exclusive remedy under this Section 2.5.
Guaranteed Commercial Operation Date. [Date] Delivery Term: The period for Product delivery will be for [Number of years] Contract Years.
Guaranteed Commercial Operation Date. 2.2.1. The Expected Commercial Operation Date is the date set forth on the Cover Sheet by which Seller reasonably expects to achieve Commercial Operation and which date shall be no later than twenty-four (24) months from the Effective Date.
2.2.2. The Guaranteed Commercial Operation Date means the Expected Commercial Operation Date. Seller shall achieve Commercial Operation no later than the Guaranteed Commercial Operation Date (as such date may be extended pursuant to Section 2.2.3 below up to one hundred twenty (180) days).