Forced Closure definition

Forced Closure means a complete or partial shutdown of any Silo of the Storage Facility due to a fault or any other reason, if it reduces Availability by more than 1% (one per cent) of the total Storage Capacity during a continuous period of 24 (twenty four) hours;
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Forced Closure means a complete or partial shutdown of any Silo of the Storage Facility due to a fault or any other reason, If it reduces Availability by more than 1% (on per cent) of the total Storage Capacity during a continuous period of 24 (twenty four) hours;
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Forced Closure means a complete or partial shutdown of Project Facilities leading to disruption in provision of Services due to a fault or any other reason, for cumulative period of more than 1 hour in a calendar day;
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Examples of Forced Closure in a sentence

  • For the avoidance of doubt, it is agreed that any maintenance arising out of de-commissioning and Forced Closure of the whole or any part of the Silo Complex under the provisions of Clause 12.7 shall be deemed to be Unscheduled Maintenance.

  • The reliability of the Storage Facility in any quarter shall be measured in terms of the number of Forced Closures occurring in the Storage Facility (the “Reliability”), but only if it is caused by any event other than Force Majeure, and the Concessionaire shall procure Reliability such that there are no more than 1 (one) Forced Closure in the Storage Facility in each quarter.

  • In the event that the Reliability in a quarter exceeds 1 (one) Forced Closure in the Silo Complex, the Concessionaire shall pay to the Authority Damages equal to 2.5% (two point five per cent) of the Fixed Storage Charge payable for the storage Capacity of the Silo Complex in accordance with the provisions of Clause 15.1 and 15.2 for each such Forced Closure in excess of 1 (one).

  • For the avoidance of doubt, it is agreed that any maintenance arising out of de-commissioning and Forced Closure of the whole or any part of the Storage Facility under the provisions of Clause 17.7 shall be deemed to be Unscheduled Maintenance.

  • For the avoidance of doubt, the Parties agree that any Forced Closure or de-commissioning of the whole or any part of the Storage Facility under the provisions of Clause 17.7 shall be deemed to be Unscheduled Maintenance.

  • Possibility of Forced Closure of Open Short Positions; Borrow Charges: Depending on regulatory restrictions, stock loan and borrow market conditions, or other factors, short sales of CFDs may or may not be allowed depending on the underlying product.

  • If the requesting Party detects during the process that the trouble disappears or that he is able to solve the problem himself then he can start the Forced Closure procedure.

  • Reliability The reliability of the Storage Facility in any quarter shall be measured in terms of the number of Forced Closures occurring in the Storage Facility (the “Reliability”), but only if it is caused by any event other than Force Majeure, and the Concessionaire shall procure Reliability such that there are no more than 1 (one) Forced Closure in the Storage Facility in each quarter.