Initial RFS Date definition
Examples of Initial RFS Date in a sentence
The System shall be decommissioned at such time, no earlier than 15 years and no later than 25 years from the Initial RFS Date, as either FA-1 or the holders of three quarters of the then activated capacity on the System determine that the System is technically obsolete or has reached the end of its useful economic life.
If the Initial RFS Date does not occur by the revised expected Initial RFS Date the above procedure will be repeated until the earlier of the occurrence of the Initial RFS Date and Purchaser's termination of its obligation to purchase the Rights.
FA-1 agrees and acknowledges that from the Initial RFS Date it shall have no right to use the Capacity or Dark Fibre Pair forming part of the Initial Stage during the term of this Agreement and that from the Final RFS date it shall have no right to use the Capacity forming part of the Final Stage during the term of this Agreement.
In the event Purchaser has not exercised this right of termination, FA-1 may notify Purchaser of the revised expected Initial RFS Date.
Clause 6.2 and the foregoing shall be the limit of Purchaser's right for delays to the Initial RFS Date.
Purchaser shall have 30 days from receipt of this notice to notify FA-1 that it wishes to terminate its obligation to purchase the Rights or that it accepts the delay to the revised expected Initial RFS Date (and failure by Purchaser to provide a timely notice shall be deemed acceptance of the delay).
If the Initial Confirmation is not delivered to Purchaser within 10 days after the revised expected Initial RFS Date the above procedure will be repeated until the earlier of the actual delivery of the Initial Confirmation to Purchaser and Purchaser's termination of its obligation to purchase the System IRU.
If the Initial RFS Date has not occurred within *** months after the Scheduled Initial RFS Date Purchaser may by two months written notice terminate its purchase of the Rights.
If the Final Confirmation has not been delivered to Purchaser within the later of *** months and 10 days after the Scheduled Final RFS Date and *** months and 10 days after the Initial RFS Date, whether due to a force majeure event or otherwise, Purchaser shall have the right to immediately terminate its obligation to purchase the Final IRU without further liability to pay the portion of the Purchase Price applicable to the Final IRU upon written notice delivered to FA-1.
Purchaser shall have *** days from receipt of this notice to notify FA-1 that it wishes to terminate its obligation to purchase the System IRU or that it accepts the delay to the revised expected Initial RFS Date (and failure by Purchaser to provide a timely notice shall be deemed acceptance of the delay).