Project Completion Test definition
Project Completion Test means a test whereby a New Borrowing Base Asset and all related facilities have (without unremedied major or material malfunctions) demonstrated to the Lender’s satisfaction the ability to operate at rates materially demonstrating mechanical capabilities by producing, processing and transporting and making available for sale the quantities of natural gas specified in the Projections and Technical Assumptions as of the date of such test. The test will consist of:
Project Completion Test means the carrying out of all commissioning tests described in the EPC Contract shall have been performed in accordance with the EPC Contract to the satisfaction of the Independent Engineer and the Lenders on each generating unit individually and on the total Plant.
Project Completion Test means the technical and financial completion test described in Schedule 4. Project Costs the capital costs of planning, design, construction, development and commissioning in respect of the Project. Project Documents 1 Model Services Agreement; 2 each Genivar Agreement; 3 Open Pit Stripping Contract Agreement; 4 Holding Pond Contract Agreement; 5 Mazuma Master Lease Agreement; 6 Caterpillar Master Finance Lease; 7 Transportation Agreement; 8 any Refining Agreement; 9 the Civil and Earthworks Contract; 10 all instruments and indicia of title to the Mining Rights and all other documentation and agreements under which the Borrower derives the right to conduct mining or exploration for Product; 11 each other Material Agreement; 12 any other document executed from time to time by any person in respect of the documents described in paragraphs 1 to 11 inclusive or which is collateral, supplementary or related to those documents; and 13 any other document that the Agent and the Borrower agree in writing to be a Project Document. For the avoidance of doubt a reference to a ‘Project Document’ or ‘Document’ in this definition does not, at a particular time, include a document described in the paragraphs above that has not been entered into at that time.
Examples of Project Completion Test in a sentence
The Borrower must ensure that the Project Completion Test is completed successfully, and Project Completion has occurred, on or before 31 October 2009 and the Borrower must notify the Agent as soon as it becomes aware of any act, matter, thing or circumstance which, in the Borrower’s opinion, will or is reasonably likely to prevent Project Completion being achieved by that date.