Examples of Critical Milestone in a sentence
Strabag could not, and did not, accept a scenario that would permit Alto Maipo to gain the benefit of operating the Critical Milestone Work while potentially withholding Critical Milestone Substantial Completion from Strabag.
The Board Staff review period is renewed and automatically resets upon receipt of the requested documentation or clarification from the Qualified Project.Not less than three (3) months prior to each Critical Milestone, the Qualified Project may petition the Board to extend any of the Critical Milestone dates if, for good cause, the Critical Milestone cannot be achieved by the date specified in the Compliance Filing.
Consequently, with the threat of Late Critical Milestone Payments looming, on January 3, 2023, Strabag had no other choice but to refer the disputes to the Independent Adjudicator for resolution pursuant to Section2.29 of Amendment No. 2.
These assurances were important because, as part of the negotiations of the RSA and Amendment No. 2, Alto Maipo sought to place the Las Lajas (Critical Milestone D), Alfalfal II (Critical Milestone E), and Volcan (Critical Milestone F) Systems into commercial operation as quickly as possible and before issuing “Critical Milestone Substantial Completion Certificates”for the “Critical Milestone Work.” This was done to help Alto Maipo generate revenues that would enable it to exit bankruptcy.
Re‐Bid Commitment Security – If a Qualified Project misses a Re‐Bid Critical Milestone, the Qualified Project shall forfeit 25% of the total Re‐Bid Commitment Security.