Catastrophic Equipment Failure definition

Catastrophic Equipment Failure means a sudden, unexpected failure of a major piece of equipment which (i) substantially reduces or eliminates the capability of the Seller's Facility to produce power, (ii) is beyond the reasonable control of the Seller and could not have been prevented by the exercise of due diligence by the Seller, and (iii) despite the exercise of all reasonable efforts, requires more than sixty (60) days to repair.

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Catastrophic Equipment Failure means a specifically identified, unexpected failure of a major piece of equipment in a Generating Unit that is beyond the control of, and not the result of the negligence of, or caused by, Seller, due to the design or manufacture (but not the operation or installation) of such piece of equipment.

Catastrophic Equipment Failure. A failure of a major piece of equipment which (1) substantially reduces or eliminates the capability of the Facility to produce power, (2) is beyond the reasonable control of Seller and could not have been prevented by the exercise of reasonable due diligence by Seller, and (3) despite the exercise of all reasonable efforts, actually requires more than sixty (60) Days to repair (if the determination of whether a Catastrophic Equipment Failure has occurrred is being made more than sixty (60) Days after the failure) or is reasonably expected to require more than sixty (60) Days to repair (if such determination is being made within sixty (60) Days after the failure).

Examples of Catastrophic Equipment Failure in a sentence

If Seller believes that an outage is required to prevent Catastrophic Equipment Failure, Seller shall notify Company as soon as practicable and Company shall promptly act, upon Seller’s request, to approve such outage, which approval shall not be unreasonably withheld, delayed or conditioned.
Seller shall procure and retain a drilling rig in the State of Hawaii for quick deployment in case of emergency or use in the event of a Catastrophic Equipment Failure.
Mechanical or equipment breakdown shall not constitute a condition or event of Force Majeure unless it is a Catastrophic Equipment Failure.
If the Seller believes that a major outage is required to prevent a Catastrophic Equipment Failure, the Seller shall notify the Company as soon as practicable and the Company shall promptly act, upon the Seller’s request, to approve such outage, which approval shall not be unreasonably withheld, delayed or conditioned.
If SELLER believes that a major outage is required to prevent a Catastrophic Equipment Failure, SELLER shall notify HELCO as soon as practicable and HELCO shall promptly act, upon SELLER's request, to approve such outage, which approval shall not be unreasonably withheld, delayed or conditioned.

More Definitions of Catastrophic Equipment Failure

Catastrophic Equipment Failure means a sudden, unexpected failure of a major piece of equipment which (i) substantially reduces or eliminates the capability of the HCPC Unit to produce power, (ii) is beyond the reasonable control of HCPC and could not have been prevented by the exercise of due diligence by HCPC and, (iii) despite the exercise of all reasonable efforts, requires more than 60 days to repair.