Additional Facilities definition
Examples of Additional Facilities in a sentence
The Project Accountant will create and maintain accounting records regarding the Project in a form approved by the Project Steering Committee, setting forth each Party’s share of Total Project Costs for Project Facilities and Additional Facilities and total Investment Share of the Project.
Upon commercial operation of the Project, each Party shall be responsible for the operation and maintenance of its Project Facilities and for an amount equal to each such Party’s Project Percentage of the operation and maintenance costs for all Affected System Additional Facilities if operation and maintenance expenses for such facilities are chargeable to the Project.
The Parties intend that Affected System Additional Facilities will not be owned by either Party but will be the facilities of the Affected System owner.
In that event, the Project Work will be deemed to include the Additional Facilities, and the Parties obligations to undertake and pay for the Additional Facilities will be as set forth in this Section 4.5. For the avoidance of doubt, a proposed Additional Facility unilaterally proposed by a Party (and not by NYISO, a Governmental Authority or an Affected System operator) as a Project Facility of the other Party shall not qualify as an Additional Facility unless and until agreed in writing by both Parties.