Examples of Operation Period in a sentence
The Concessionaire shall effect and maintain at its own cost, during the Construction Period and the Operation Period, such insurances for such maximum sums as may be required under the Financing Agreements and the Applicable Laws, and such insurances as may be necessary or prudent in accordance with Good Industry Practice.
On or before COD and no later than 45 (forty five) days prior to the beginning of each Accounting Year during the Operation Period, as the case may be, the Concessionaire shall provide to MOR and the Independent Engineer, its proposed annual programme of preventive, urgent and other scheduled maintenance (the “ Maintenance Programme”) to comply with the Maintenance Requirements, Maintenance Manual and Safety Requirements.
During the Operation Period, the Concessionaire shall operate and maintain the Rail System in accordance with this Agreement either by itself, or through the O&M Contractor and if required, modify, repair or otherwise make improvements to the Rail System to comply with the provisions of this Agreement, Applicable Laws and Applicable Permits, and conform to Specifications and Standards and Good Industry Practice.
No later than 45 (forty five) days prior to commencement of the Construction Period or the Operation Period, as the case may be, the Concessionaire shall by notice furnish to MOR, in reasonable detail, information in respect of the insurances that it proposes to effect and maintain in accordance with this Article 26.
During Operation Period, the Concessionaire shall, no later than 7 (seven) days after the close of each month, furnish a monthly report stating in reasonable detail the compliance with the Key Performance Indicator along with an analysis of the reasons for failures, if any, and the strategies for addressing the same and for otherwise improving the performance of the Rail System.