Guaranteed Commercial Operation Deadline Sample Clauses

Guaranteed Commercial Operation Deadline. The “Guaranteed Commercial Operation Deadline” is December 31, 2025.
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Guaranteed Commercial Operation Deadline. The guaranteed deadline for Commercial Operation for the Project is December 31, 2025, which date may not be extended. Failure to achieve Commercial Operation by such date constitutes an Event of Default by Owner and will result in the automatic termination of the ESSA. Substantial Completion Substantial Completion means, among other things: the Project has been interconnected to the grid in compliance with an executed Interconnection Agreement; Owner has delivered to Company a certificate of an Independent Engineer certifying the Project is mechanically completed in all material respects; Owner has received all Permits necessary for Owner to perform its obligations under the ESSA and such Permits are in final form and in full force and effect; Owner has FERC market-based rate authority and is registered as a market participant in NYISO for the Project; the Project has been registered with the NYISO as a dispatchable energy storage resource capable of operating in NYISO; Owner has completed registrations with NERC as the owner and operator of the Project; if applicable, a NYSERDA Agreement (between NYSERDA and Owner) shall be in full force and effect; and other conditions as set forth in the definitive agreements. Commercial Operation Commercial Operation means, among other things: Substantial Completion shall have occurred; testing and commissioning of the Project to verify mechanical, electrical and structural performance per the specifications in the ESSA, including verification of Contract Capacity and Guaranteed Round-Trip Efficiency, among other performance criteria, shall have been completed; Owner shall have obtained all Permits necessary for Owner to perform its obligations under the ESSA; Owner shall have delivered Performance Assurance; Owner shall have designated Company as the Financially Responsible Party for the Project; Owner shall have obtained confirmation from NYISO that it has satisfied all NYISO requirements to obtain Capacity Resource Interconnection Service (or XXXX) and Energy Resource Interconnection Service (or ERIS) and in amounts not less than the Contract Capacity and the commensurate Contract Capacity Energy; if applicable, NYSERDA shall have confirmed that Owner has satisfied all conditions to Commercial Operation under the NYSERDA Agreement; the Project is not subject to any Encumbrances other than Permitted Encumbrances; and Owner is not in default under the ESSA. Construction Milestones / Recovery Plan Owner will comply wi...
Sample 1

Related to Guaranteed Commercial Operation Deadline

  • Commercial Operation Date (COD) Bus Terminal and Commercial Complex shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Bus Terminal and Commercial Complex shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Fee in accordance with provisions of Article 27 and that the entry of Bus Terminal or part thereof into commercial service shall always be subject to compliance with the provisions of Clause 18.3 and Clause 26.2.

  • Commercial Operation (i) On or before December 31, 2021, Interconnection Customer must demonstrate commercial operation of all generating units. Demonstrating commercial operation includes achieving Initial Operation in accordance with Section 1.4 of Appendix 2 to this ISA and making commercial sales or use of energy, as well as, if applicable, obtaining capacity qualification in accordance with the requirements of the Reliability Assurance Agreement Among Load Serving Entities in the PJM Region.

  • Commercial Operation Date (COD 15.1.1 The Project shall be deemed to be complete when the Completion Certificate or the Provisional Certificate, as the case may be, is issued under the provisions of Article 14, and accordingly the commercial operation date of the Project shall be the date on which such Completion Certificate or the Provisional Certificate is issued (the “COD”). The Project shall enter into commercial service on COD whereupon the Concessionaire shall be entitled to demand and collect Annuity Payments in accordance with the provisions of this Agreement.

  • Grant Completion Deadline The grant completion deadline is the end date of this Agreement set forth in Section 2 above. The Grant Completion Deadline is the date when all grant and matching funds have been paid out or incurred in accordance with the work described in the Scope of Work, detailed in the Estimated Project Budget. If the Grantee finds it necessary to request an extension of the Grant Completion Deadline, an Amendment to the Agreement must be executed as per Section 7, and the stipulations in Section 15 must be met.

  • Initial Operation The following requirements shall be satisfied prior to Initial Operation of the Customer Facility:

  • Failure to Achieve Commercial Operation If the Large Generating Facility fails to achieve Commercial Operation, but it or another generating facility is later constructed and makes use of the Network Upgrades, the Participating TO shall at that time reimburse Interconnection Customer for the amounts advanced for the Network Upgrades. Before any such reimbursement can occur, the Interconnection Customer, or the entity that ultimately constructs the generating facility, if different, is responsible for identifying and demonstrating to the Participating TO the appropriate entity to which reimbursement must be made in order to implement the intent of this reimbursement obligation.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Final Completion Date Final Completion for the Work as defined in Article 6.1.3 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by September 30, 2022.

  • Synchronisation Commissioning and Commercial Operation 8.1 The Developer shall provide at least forty (40) days advanced preliminary written notice and at least twenty (20) days advanced final written notice to ESCOM of the date on which it intends to synchronize the Power Project to the Grid System.

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

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