COD Deadline definition
Examples of COD Deadline in a sentence
In the event that on the Project COD Deadline, the In-Service Date has occurred but the Contract Capacity is less than the Project Capacity, Seller shall pay Liquidated Damages in the amount of one hundred fifty thousand dollars ($150,000), multiplied by the number of MW by which the Contract Capacity is below the Project Capacity less any Daily Delay Liquidated Damages previously paid by Seller (“Contract Capacity Buy-Down Liquidated Damages”).
Notwithstanding anything to the contrary contained herein, if the Project COD Target Date (as defined in the BOOT Contract) has not occurred on or before the Project COD Deadline, at any time after such date Lessor may terminate this Lease.
Subject to limitations on Project Participants’ Import Capability, as set forth below, Seller shall use commercially reasonable efforts to deliver to Buyer, on or before the Final COD Deadline, Project Net Capacity equal to the Maximum Capacity.
In the event that the Commercial Operation Date does not occur by the COD Deadline, Buyer shall be entitled to terminate this Agreement by giving Seller prior written notice of ten (10) Business Days.
If the In-Service Date has not occurred on or before the Day that is the Project COD Deadline, Buyer may terminate this Agreement by written notice to the Seller and shall be entitled to the amount of one hundred fifty thousand dollars ($150,000) multiplied by the Project Capacity (“COD Liquidated Damages”) as its sole remedy, less any Daily Delay Liquidated Damages already paid by Seller.
Payment of Construction Delay Damages shall be Buyer’s sole and exclusive remedy for any failure to achieve the Commercial Operation Date by the Scheduled Commercial Operation Date, and the right to terminate (as set forth in this Section 2.4) shall be Buyer’s sole and exclusive remedy for any failure to achieve the Commercial Operation Date by the COD Deadline.
Seller shall determine the location, design, configuration, and Facility Net Capacity of each Facility, subject to the Requirements and to any conditions which are imposed by any Governmental Authority as part of the environmental review of each Facility required under applicable Federal and Nevada or California Requirements of Law, as applicable; provided, each Facility shall be a Firm Clean Resource and shall have a Commercial Operation Date that occurs no later than the Final COD Deadline.
If Project COD has not occurred on or before the day that is the Project COD Deadline, Buyer may terminate this Agreement by written notice to the Seller and shall be entitled to the amount of $150,000 multiplied by the Project Capacity (“COD Liquidated Damages”) as its sole remedy, less any Daily Delay Damages already paid by Seller.
Progress Reports Seller shall notify Buyer of any events which may reasonably be expected to adversely affect Seller’s ability to achieve Project COD by the Project COD Deadline, such notice to be given within three (3) Business Days of the occurrence of such event.
SRP will provide Customer with periodic updates on the construction status of the Facility, and will use commercially reasonable efforts to promptly notify Customer if SRP learns of any event or circumstance that will delay, or is reasonably likely to delay, the Facility COD beyond the COD Deadline.