SELLER’S FACILITY AND COMMERCIAL OPERATION DATE Clause Samples
The 'Seller’s Facility and Commercial Operation Date' clause defines the requirements and timeline for the seller’s facility to achieve operational readiness and begin commercial operations. It typically specifies the standards the facility must meet, the process for verifying operational status, and the deadline by which the facility must be fully functional. For example, it may require the seller to provide notice and documentation once the facility is capable of delivering contracted goods or services. This clause ensures both parties have a clear understanding of when the seller’s obligations commence, reducing uncertainty and helping to coordinate project schedules.
SELLER’S FACILITY AND COMMERCIAL OPERATION DATE. This Agreement governs Buyer’s purchase of the Product from the electrical generating facility (hereinafter referred to as the “Facility” or “Project”) as described in this Section.