Guaranteed Commercial Operation Date definition

Guaranteed Commercial Operation Date has the meaning set forth in Section 3.9(c)(i).
Guaranteed Commercial Operation Date means the date that is 120 days after the Scheduled Commercial Operation Date.
Guaranteed Commercial Operation Date means the Expected Commercial Operation Date, as such date may be extended by the Development Cure Period.

Examples of Guaranteed Commercial Operation Date in a sentence

  • The Guaranteed Commercial Operation Date and the Guaranteed Construction Start Date shall be extended on a day for day basis for delays in obtaining any such consent and/or amendment.


More Definitions of Guaranteed Commercial Operation Date

Guaranteed Commercial Operation Date or “Guaranteed COD” means the Expected Commercial Operation Date, , subject to extensions on a day-for-day basis under the Development Cure Period. If Seller does not achieve COD of the Facility by the Guaranteed COD, Seller shall pay COD Delay Damages to the Buyers for each day of delay until Seller achieves COD. “COD Delay Damages” are equal to the Development Security divided by 60. COD Delay Damages shall be paid for each day of delay and shall be paid to Buyers in advance on a monthly basis. A prorated amount will be returned to Seller if COD is achieved during the month for which COD Delay Damages were paid in advance. Failure to achieve COD within 60 days of the Guaranteed COD shall constitute an Event of Default, and Buyers shall have the right, in its sole discretion, to terminate the PPA and retain the Development Security. Commercial Operation Date (“COD”): The COD shall be the date when all of the following requirements have been met to Buyers’ reasonable satisfaction including Seller providing a certificate from an independent engineer to Buyers certifying to the following: The Facility is fully operational, reliable and interconnected, fully integrated and synchronized with the Transmission System. Seller has installed equipment for the Facility with a nameplate capacity of no less than ninety-five percent (95%) of the Guaranteed Capacity. Seller has commissioned all equipment in accordance with its respective manufacturer’s specifications. The Facility’s testing included a performance test demonstrating peak electrical output of no less than ninety-five percent (95%) of the Guaranteed Capacity for the Facility at the Delivery Point, as adjusted for ambient conditions on the date of the Facility testing, and such peak electrical output, as adjusted, was [peak output in MW]. Authorization to parallel the Facility was obtained by the Participating Transmission Owner, [Name of Participating Transmission Owner as appropriate] on [Date]. The Transmission Provider has provided documentation supporting full unrestricted release for Commercial Operation by [Name of Participating Transmission Owner as appropriate] on [Date]. The CAISO has provided notification supporting Commercial Operation, in accordance with the CAISO Tariff on [Date] Seller shall provide notice of expected COD to Buyers in writing no less than sixty (60) days in advance of such date.
Guaranteed Commercial Operation Date means [ ], as may be extended for (a) Force Majeure Extension according to Section 3.6(a), and (b) the Accounting Treatment Work- Out Period Extension according to Section 3.6(b); provided, however, that the Guaranteed Commercial Operation Date shall only be extended by one Day for each Day when both of the extensions described in clauses (a) and (b) above apply.
Guaranteed Commercial Operation Date. The “Guaranteed Commercial Operation Date” or “Guaranteed COD” means the Expected Commercial Operation Date, subject to extensions on a day-for-day basis under the Development Cure Period. If Seller does not achieve COD of the Facility by the Guaranteed COD, Seller shall pay COD Delay Damages to the Buyer for each day of delay until Seller achieves COD. “COD Delay Damages” are equal to [$XXX/day, which is equal to the Development Security divided by 60]. COD Delay Damages shall be paid for each day of delay and shall be paid to Buyer in advance on a monthly basis. A prorated amount will be returned to Seller if COD is achieved during the month for which COD Delay Damages were paid in advance. Failure to achieve COD within 60 days of the Guaranteed COD shall constitute an Event of Default, and Buyer shall have the right, in its sole discretion, to terminate the PPA and retain the Development Security.
Guaranteed Commercial Operation Date shall have the meaning set forth in Section 3.1(a)(vi) hereof.
Guaranteed Commercial Operation Date means the date that is ninety (90) days after the Scheduled Commercial Operation Date.
Guaranteed Commercial Operation Date has the meaning set forth in Section 2.10(c). [
Guaranteed Commercial Operation Date has the meaning set forth in Section 1.1.2. “Guaranteed Energy Production” or “GEP” has the meaning set forth in Section 11.1.