Commercial Operations. Upon satisfaction of the following conditions, the Facility shall be considered to have achieved Commercial Operations on the Day specified in Seller's written notice described below: (i) the Acceptance Test has been passed, (ii) all generating units have passed Control System Acceptance Tests, (iii) the Transfer Date has occurred, (iv) Seller has (1) provided to Company the Required Models (as defined in Section 6(a) (Seller's Obligation to Provide Models) of Attachment B (Facility Owned by Seller)) in the form of Source Code, (2) placed the current version of the Source Code for the Required Models with the Source Code Escrow Agent as required in Section 6(b)(i)(A) (Establishment of Source Code Escrow) of Attachment B (Facility Owned by Seller), or (3) if Seller is unable to arrange for the placement of the appropriate Source Code into the Source Code Escrow account, placed the required funds with the Monetary Escrow Agent as required in Section 6(b)(ii)(A) (Establishment of Monetary Escrow) of Attachment B (Facility Owned by Seller), and (v) Seller provides Company with written notice that (aa) Seller is ready to declare the Commercial Operations Date and (bb) the Commercial Operations Date will occur within 24 hours (i.e., the next Day).
Commercial Operations means the generation of electricity or other energy product for commercial use, sale, or distribution.
Commercial Operations means the generation of electricity or other energy product for
Examples of Commercial Operations in a sentence
Notwithstanding the foregoing, for any Event of Default by Seller prior to the date of commencement of Commercial Operations, NYSERDA shall be entitled only to Stipulated Damages pursuant to Article XV.
More Definitions of Commercial Operations
Commercial Operations means the date on which the Project described in the Application for Value Limitation Agreement becomes commercially operational and capable of being placed into service, such that it has been constructed and is capable of producing electricity and achieving a Qualifying Investment of no less than $10 million dollars.
Commercial Operations means the generation of electricity or other energy product for commercial use, sale, or distribution. “Commercial Operation Date,” or “COD,” refers to the date on which the Lessee first begins Commercial Operations on the lease.
Commercial Operations means the date on which the Project described in the Application for Value Limitation Agreement becomes commercially operational and capable of being placed into service, such that it has been constructed and is capable of producing electricity and achieving a Qualifying Investment of no less than $20 million dollars.
Commercial Operations means the date on which the Project described in the Application for Value Limitation Agreement becomes commercially operational and capable of being placed into service, such that it has been constructed and is capable of manufacturing products from natural gas liquids.
Commercial Operations means that the Project has become commercially operational and placed into service for the purpose of generating electricity for sale on one or more commercial markets.
Commercial Operations means the use of the Project Facilities for commercial purposes by the levy, charging, demanding, collecting, realizing, retaining and appropriating of Tariff;
Commercial Operations means the date on which all of the principal units included in the project described in the Application become commercially operational and placed into service, such that all of such units included in the project have been constructed, tested, and received all necessary permits to operate, have commenced commercial operations of receiving feedstocks and converting them into usable products for later sale or processing as intended by the final project design.