Definition of Power Substantial Completion

  1. Power Substantial Completion means that and shall be deemed to have occurred when the Plant has been constructed, successfully tested and commissioned such that, among other thing (a) the Plant (i) has achieved Biogas Substantial Completion and (ii) is operating and generating the specified output pursuant to the Construction Documents and the PPA and is supplying power to the Power Purchaser in full accordance with the PPA, including satisfaction of the requirements of Commercial Operation; (b) a successful operational performance test of the Plant for its intended use shall have ken completed demonstrating that Plant performance criteria of electrical generation, heat rate and emission levels have been met and are satisfactory; and (c) Principal shall have received from Contractor satisfactory evidence that all payrolls, bills, and other costs and expenses relating to the work performed under the Construction Documents have ban paid or otherwise satisfied (including lien waivers and releases from every Subcontractor and every other Person who provided labor, material, equipment or supplies for the work or the Plant) (Power Substantial Completion shall not occur until a Certificate of Power Substantial Completion has been executed by all appropriate parties, including Lender's Engineer);

Examples of Power Substantial Completion in a sentence

  1. The following are the conditions precedent for Power Substantial Completion

Definition of Power Substantial Completion in Amended and Restated

Power Substantial Completion means that, and shall be deemed to have occurred when the Project has been constructed, successfully tested and commissioned such that, among other things: (a) the Project (i) is operating within all the specified parameters in the Construction Documents, (ii) has achieved Mechanical Completion and Biogas Substantial Completion, (iii) has achieved commercial operation; (iv) has all Permits and Related Rights required for continuous commercial operation, and (v) is operating and generating the specified output pursuant to the EPC Agreement and the Power Purchase Agreement, and is supplying power to the Power Purchaser in full accordance with the Purchase Power Agreement; (b) a successful operational performance test of the Project for its intended use shall have been completed demonstrating that Project performance criteria of electrical generation, heat rate and emission levels have been met and are satisfactory; and (c) Borrower, and at Lender's request, Lender, shall have received from EPC Contractor satisfactory evidence that all payrolls, bills, and other costs and expenses relating to the work performed under the Construction Documents have been paid or otherwise satisfied (including lien waivers and releases, from every Subcontractor and every other Person who provided labor, material, equipment or supplies for the work or the Project). Satisfaction of the requirements for Power Substantial Completion shall be determined by Lender in consultation with Lender's Engineer.