Operation & Maintenance Period definition
Examples of Operation & Maintenance Period in a sentence
Carry out their respective obligations during the Construction Period and Operation & Maintenance Period.
In the event that the Concessionaire fails to repair or rectify any defect or deficiency set forth in the Maintenance Requirements within the period specified therein, it shall be deemed to be in breach of this Agreement and the Authority shall be entitled to recover Damages, to be calculated and paid for each day of delay until the breach is cured, at the rate of 0.1% (zero point one per cent) of the Operation & Maintenance Period Performance Security.
Where the manner of execution is not set out in this Concession Agreement, the Works shall be executed under the instructions of the Authority during the Development and Operation & Maintenance Period, in a proper, workmanlike and careful manner and as per Good Industry Practice, with properly equipped facilities and non‐hazardous materials.
Where the manner of execution is not set out in this Concession Agreement, the Works shall be executed under the instructions of the Authority during the Development and Operation & Maintenance Period, in a proper, workmanlike and careful manner and as per Good Industry Practice, with properly equipped facilities and non-hazardous materials.
Upon occurrence of a Concessionaire Default during the Concession Period or failure to meet any Condition Precedent, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Construction Period Performance Security and/ or the Operation & Maintenance Period Performance Security as the case may be, as Damages for such Concessionaire Default.