O&M Contract Clause Samples
An O&M (Operations and Maintenance) Contract is an agreement that outlines the responsibilities and obligations for operating and maintaining a facility, equipment, or infrastructure. Typically, this contract specifies the standards of performance, maintenance schedules, and reporting requirements that the service provider must follow. For example, in a solar power plant, the O&M contract would detail how the operator must monitor system performance, conduct regular inspections, and perform necessary repairs. The core function of this clause is to ensure that the asset is properly managed and maintained, thereby maximizing its efficiency and lifespan while minimizing downtime and unexpected costs.
O&M Contract. The Borrower shall deliver an O&M Contract, in substantially the form attached hereto as Exhibit R (otherwise in form and substance reasonably satisfactory to the Required Lenders), that is in compliance with the pricing parameters set forth in the most recently submitted Pro Forma Model in respect of such O&M Contract, in respect of each Facility promptly following execution of such O&M Contract, but in any event before the date of initial funding by the Tax Equity Investor for such Facility pursuant to the applicable Tax Equity Documents.
O&M Contract. A certified copy of the O&M Contract as amended and in effect on the Closing Date, duly executed and delivered by each of the parties thereto.
O&M Contract. (a) Borrower shall not amend the O&M Contract unless Lender shall have provided prior written consent thereto (which consent shall not be unreasonably withheld, delayed or conditioned).
(b) Borrower shall not consent, without Lender’s prior written approval (which approval shall not be unreasonably withheld, delayed or conditioned), to any settlement or waiver by the Contractor of any claim, proceeding, warranty, damages or guaranty which could reasonably be expected to materially adversely affect the rights or interests of Borrower.
O&M Contract. The provisions contained in the O&M CONTRACT and in the documents identified below, said documents being attached hereto and made a part hereof or incorporated herein by reference for all purposes, shall be collectively known as the O&M CONTRACT. The above-referenced O&M CONTRACT includes and shall be construed in the following order of priority: