Common use of Permanent Cessation of Operations Clause in Contracts

Permanent Cessation of Operations. As of the Contract Date, the Nuclear Group consists of the Facility and the Xxxxx Facility. If, during the Contract Term, a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility or (b) the Xxxxx Facility, then, NYSERDA shall make any payments due to such facility in accordance with obligations hereunder already performed by such facility. If a Permanent Cessation of Operations occurs with respect to the XxxxXxxxxxx Facility prior to the XxxxXxxxxxx Facility becoming part of the Nuclear Group, then, effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be modified in accordance with their respective definitions in Article I. If a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility after the XxxxXxxxxxx Facility becomes part of the Nuclear Group or (b) the Xxxxx Facility, then effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be reduced by the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, respectively. Solely for the purpose of determining the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, if either Unit 1 or Unit 2 of the Facility has a Permanent Cessation of Operations, it will be treated as if the entire Facility has a Permanent Cessation of Operations. For purposes of clarity, if a Permanent Cessation of Operations occurs at only Unit 1 or Unit 2 of the Facility, this Agreement shall not terminate, and Seller shall continue to sell, and Buyer shall continue to purchase, ZECs hereunder;

Permanent Cessation of Operations. As of the Contract Date, the Nuclear Group consists of the Facility and the Xxxxx Nine Mile Facility. If, during the Contract Term, a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility or (b) the Xxxxx Nine Mile Facility, then, NYSERDA shall make any payments due to such facility in accordance with obligations hereunder already performed by such facility. If a Permanent Cessation of Operations occurs with respect to the XxxxXxxxxxx Facility prior to the XxxxXxxxxxx Facility becoming part of the Nuclear Group, then, effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be modified in accordance with their respective definitions in Article I. If a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility after the XxxxXxxxxxx Facility becomes part of the Nuclear Group or (b) the Xxxxx Nine Mile Facility, then effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be reduced by the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, respectively. Solely for For the purpose purposes of determining this Section 5.2(b), the Permanent Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, if of Operations of either Unit 1 or Unit 2 of the Nine Mile Facility has a Permanent Cessation of Operations, it will be treated as if shall constitute the entire Facility has a Permanent Cessation of Operations. For purposes of clarity, if a Permanent Cessation of Operations occurs at only Unit 1 or Unit 2 of the entire Nine Mile Facility, this Agreement shall not terminate, and Seller shall continue to sell, and Buyer shall continue to purchase, ZECs hereunder;