Orange County NC Website
91 <br /> shall act as the"permittee,""owner"and"operator"for such project as may be appropriate under <br /> applicable Laws. <br /> $2 83,11e University recognizes that it is in the Parties'mutual best economic interest <br /> for the LFG Project to be completed expeditiously. Without limiting the generality of the <br /> University's obligations under Article II of this Agreement, beginning on the C4esingEffective <br /> Date,the University shall work expeditiously and in good faith to(a)complete the LFG Collection <br /> System within eighteen(18)months from the Clos_ Dated?te of the issuance of the last Atmrov <br /> necessary to construct such system, and (b) complete the Gas Conversion System within <br /> thirty-four(34)months from the a of the issuance of the last Approval necessary <br /> to construct such system the Gas Conversation System and the Pipeline. If the University fails to <br /> complete the LFG Collection-System Project within five (5) years of the Closing Date Effective <br /> Date date of the issuance of the last Approval necessary to construct the LFG Project,the County <br /> shall have the right to terminate the Agreement pursuant to Article VI. If the Engine Start-up Date <br /> does not occur within thirty-five(35)months after the Effective Datedate of the issuance of the last <br /> Approval necessary to construct the Gas Conversion System and the Pipeline,the Flare Percentage <br /> shall be adjusted to equal ten and ninety-five one-hundredths percent(10.95%)for the purpose of <br /> calculating any Flare Payment under this Agreement and shall remain at such percentage until the <br /> occurrence of the Engine Start-up Date or five(5)years after the to of the issuance <br /> of the last Approval necessary to construct the Gas Conversion System and the Pipeline, <br /> whichever occurs sooner. If the Engine Start-up Date does not occur within five(5)years after the <br /> Effective Datodate of the issuance of the last Approval necessary to construct the Gas Conversion <br /> System and the Pipeline, the Flare Percentage shall be adjusted to equal sixteen and six-tenths <br /> percent(16.6%)for the purpose of calculating any Flare Payment under this Agreement and shall <br /> • <br /> {00022477.DOC} <br />