Commissioning Payment definition
Examples of Commissioning Payment in a sentence
The Commissioning Payment (CPt) will be based on the projected tonnage of Contract Waste forecast to be delivered by that Partner in the Payment Period before the Services Commencement Date, calculated in accordance with paragraph [3] in Part A "Commissioning Payments" of the Project Agreement Payment Mechanism.
Subject to reductions negotiated by the parties and included in the Definitive Agreement, upon verification of output and production of the Equipment (the "Commissioning"), SIBE shall pay to SAFER $1.65 million in cash and issue $1.1 million of Shares to SAFER, ("Commissioning Payment") with such Shares to be held in escrow and disbursed as provided in Section 11 of this MOU.
Commissioning Payment: 5% of contract sum payable upon confirmation of successful commissioning.
Each Partner shall make a Commissioning Payment (CPt) in respect of each Payment Period (t) falling wholly or partly within the Commissioning Period on the tenth (10th) Business Day of the following Payment Period in question.
Each report and each invoice shall specify the value of each element of the Commissioning Payment, calculated in accordance with paragraph 3 of Schedule 4 (Payment Mechanism).
Subject to Clause 45.9 (Disputed Amounts), the Authority shall pay the amount stated in any invoices submitted under Clause 45.2 (Report and Invoice Commissioning Payment) on the final Business Day of the Contract Month following the Contract Month to which the invoice relates.
The Supplier will accept delivery of, and supply, the Relevant Electrical Output of each Facility pursuant to each Direct PPA at the price: of £56 per MWh in relation to the Existing Direct PPA (or as otherwise adjusted in accordance with the Existing Direct PPA); specified by the Authority in the notice provided in accordance with Paragraph 1 in respect of any New Direct PPA; and in either case, in accordance with the relevant Commissioning Payment Calculation and Post-Commissioning Payment Calculation.
Each direct debit shall be set up to implement payment on the fifteenth (15th) Business Day of each Payment Period and the amount of each payment shall equal the relevant Commissioning Payment (calculated in accordance with paragraph 2 (Commissioning Payment) of the JWA2 Payment Mechanism) or the relevant Monthly Payment calculated in accordance with paragraph 4 of Schedule 11 (JWA2 Payment Mechanism).
If LEA fails to exercise the option granted hereunder or to pay the required 67% of the Commissioning Payment to IAE within 6 (six) months of the date IAE notifies LEA in writing that it no longer wishes to develop a power project utilizing the LADWP PPA or the Alternate PPA, the option shall expire and IAE may sell, assign or seek cancellation of the PPA as it sees fit.
On the tenth (10th) Business Day following the end of each Contract Month during the Commissioning Period, the Contractor shall submit to the Authority a report and an invoice showing the Commissioning Payment due for the relevant Contract Month.