Operational Year means all or any portion of any calendar year during which this Lease is in effect.

Operational Year means the twelve-month period commencing on the Operational Date and ending on the first anniversary of such date and each twelve month period thereafter.

Examples of Operational Year in a sentence

Quoted Tariff must be applicable for sale of Solar Power to Procurer from Initial Part Commissioning to the end of first Operational Year.
Bidder to provide the Quoted Tariff up to 3 decimal places.2. Quoted Tariff shall be escalated by 3% at the start of each Operational Year (second Operational Year onward) till the Expiry Date;3.
All measurement and calculation of tariff after escalation for each Operational Year shall be done up to three (3) decimal places, with the fourth digit of five (5) or above being rounded up and below five (5) being rounded down.4. The above Quoted Tariff is inclusive of any applicable taxes.
Further, any member of the consortium or Partner in a Partnership firm or an LLP, shall maintain individual equity in newly formed Company of, at least, 51% of its share in the bidding consortium or in the partnership deed, as the case may be, submitted along with the Bid, up to completion of First Operational Year.
If the successful bidder forms a Project Company (SPV), the shareholders of the Successful Bidder, as on the date of submission of the Bid, shall continue to hold up to 51% of the total ownership of the Project Company (SPV), from the date of incorporation of SPV until the completion of First Operational Year.

More Definitions of Operational Year

Operational Year means each calendar year or part thereof occurring during the Term of this lease excluding the Initial Operational Year;

Operational Year means the period of 12 months beginning with the 1st day of October and ending with 30th September of the following calendar year.

Operational Year means each calendar year or part thereof occurring during the Term of this lease;

Operational Year means the calendar year 2000 and each succeeding calendar year thereafter.

Operational Year means each calendar year after the Base Expense Year.

Operational Year means each calendar year commencing with calendar year 1998.