Operational Event definition

Operational Event means a material disruption in communication, commercial banking or securities depository services provided to the Issuer or other similar third party events beyond the control of the Issuer that has prevented or will prevent the Issuer and/or the applicable paying agent from making payments on any CP in a timely manner;
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Operational Event means an event in case of which threat or violation of nuclear safety has occurred at a nuclear installation during the commissioning of the nuclear installation, during its operation, during the decommissioning stage or during the closure of repository.
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Operational Event means (a) the failure of the facility made the subject of this Agreement to operate or function as designed with respect to the injection, storage or withdrawal of Gas, including but not limited to the loss of Customer’s Gas at the facility; (b) the failure of the Customer’s Gas nominated for withdrawal and delivery to meet the Pipeline Requirements; (c) the curtailment of Gas receipts from Ryckman Creek by a Receiving Pipeline due to the failure to meet the Pipeline Requirements; (d) the curtailment or interruption of storage services, either partially or completely for reasons attributable to Ryckman Creek’s storage
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Examples of Operational Event in a sentence

  • In addition to the other remedies specified in this Article 12, in the event that any Construction Event of Default or Operational Event of Default is not cured within the applicable cure period set forth above, EPE may elect to treat this Agreement as being in full force and effect, and EPE shall have the right to specific performance.

  • Subject to the notice and cure provisions set forth below, any Operational Event of Default shall give EPE the unconditional right, in its sole discretion, to: (i) either terminate this Agreement or operate the Facility during the Interim Period pursuant to Section 12.12 below, (ii) draw upon or otherwise negotiate and liquidate the Security Fund, and (iii) in the event EPE elects not to terminate this Agreement under Section 12.1(i) above, negotiate changes to this Agreement.

  • If Seller is the defaulting Party, the damages recoverable by EPE on account of a Construction Event of Default or an Operational Event of Default shall include Replacement Energy Costs, provided that damages associated with a Construction Event of Default shall not exceed the amount of the Security Fund provided by Seller.

  • If an Operational Event of Default lasts more than 365 days, then EPE shall have the right to terminate the Agreement.


More Definitions of Operational Event

Operational Event means an event in case of which threat or violation of nuclear safety has occurred at a nuclear installation
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