Minimum Operation, Maintenance, Power, and Replacement Component Sample Clauses
The Minimum Operation, Maintenance, Power, and Replacement Component clause sets baseline requirements for the ongoing operation, upkeep, and performance of a facility or equipment, as well as the timely replacement of critical parts. In practice, this clause obligates the responsible party to maintain equipment at specified standards, ensure consistent power output or performance levels, and replace worn or faulty components within defined timeframes. By establishing these minimum standards, the clause helps ensure reliability, safety, and longevity of the asset, while minimizing downtime and unexpected failures.
Minimum Operation, Maintenance, Power, and Replacement Component. Payments by the Agency under the minimum operation, maintenance, power, and replacement component of the Transportation Charge shall commence for each aqueduct reach in the year following the year in which construction of that reach is completed.
Minimum Operation, Maintenance, Power, and Replacement Component. The minimum operation, maintenance, power, and replacement component of the Transportation Charge shall return to the State those costs of the project transportation facilities necessary to deliver water to the contractor which constitute operation, maintenance, power, and replacement costs incurred irrespective of the amount of project water delivered to the contractor and which are allocated to the contractor pursuant to (b) below: Provided, That to the extent permitted by law, the State may establish reserve funds to meet anticipated minimum replacement costs; and deposits in such reserve funds by the State: (1) shall be made in such amounts that such reserve funds will be adequate to meet such anticipated costs as they are incurred, and (2) shall be deemed to be a part of the minimum replacement costs for the year in which such deposits are made.