Qualifying Shutdown Event definition

Qualifying Shutdown Event. Required Authorisation" and "Specific Change in Law";

Qualifying Shutdown Event means a Change in Law which comprises:

Qualifying Shutdown Event. “Required Authorisation” and “Specific Change in Law”; Conditions 28.2(A), 30.1(E), 31.13, 36.1, 48.2 and 50.1; and

Examples of Qualifying Shutdown Event in a sentence

• The Qualifying Shutdown Event protections include the right to transfer NNBG to the UK Government (and for the UK Government to call for transfer) in addition to the payment of compensation by the CfD Counterparty or the UK Government.

• NNBG will, subject to conditions, receive compensation in the event of a ‘political’ shutdown of HPC (by either a UK, EU or international competent authority) other than for certain reasons including health, nuclear safety, security, environmental, nuclear transport or nuclear safeguards (Qualifying Shutdown Event).

• This indemnity shall not apply in respect of any such costs resulting from the DPA Counterparty disputing that a Qualifying Change in Law or Qualifying Shutdown Event has occurred if an agreement or determination is reached to the contrary.

• This indemnity shall not apply in respect of any such costs resulting from the ICC Contract Counterparty disputing that a Qualifying Change in Law or Qualifying Shutdown Event has occurred if an agreement or determination is reached to the contrary.

• NNBG will, subject to conditions, receive compensation in the event of a "political" shutdown of HPC (by either a UK, EU or international competent authority) other than for certain reasons including health, nuclear safety, security, environmental, nuclear transport or nuclear safeguards (Qualifying Shutdown Event).

More Definitions of Qualifying Shutdown Event

Qualifying Shutdown Event is where the Government or a governmental authority permanently prevents the whole of the Facility from operating or refuses to give approval, for a period exceeding twenty-four (24) months, to a request to re-start No. Subject Terms operations at the Facility. There are certain exceptions to this definition, namely where the shutdown event: (a) occurs because the Government/a governmental authority was required to act in this way under European or International law, provided that the Government/a governmental authority used reasonable endeavours to try to oppose and prevent the adoption of that law; (b) was for reasons relating to health, safety, security, environment, transport, or damage to the property in relation to the (i) Facility, (ii) the Producer, (iii) the site of the Facility, (iv) the management of the Facility, the Producer, or the site, or (v) (in conjunction with at least one of the other parts of this paragraph (b)) the production of hydrogen using the same production technology as the Facility; (c) arose as a result of the negligence, breach or fault of, or a failure to act in accordance with the reasonable and prudent standard by the Producer or any of its representatives; and (d) relates to any decision of the European Commission or any other competent authority on the application of the subsidy control rules to the LCHA. A Qualifying Shutdown Event that occurs on or after the Start Date will constitute a QCiL Operations Cessation Event under the LCHA (see item 5.2 (QCiL Compensation)), consistent with the position under the AR4 CfD and the CCUS Programme Contracts.

Qualifying Shutdown Event has the meaning given to that term in item 5.3 (Qualifying Shutdown Events). Qualifying Volumes has the meaning given to that term in item 4.2 (Qualifying Volumes, Non-Qualifying Volumes and RTFO Volumes). Reference Price for Non-Qualifying Volumes has the meaning given to that term in item 4.44.6 (Reference PricePrices).