Assignment of Renewable Energy Credits. The Company hereby grants, conveys, transfers, assigns, and delivers unto Provider (or its designee), without recourse to the Company, all of the Company’s rights, title and interest in and to all RECs solely so that the Provider may perform the REC Services on behalf of the Company in accordance with Prudent Industry Standards. Until any sale of RECs to a third party, Provider shall keep all RECs free and clear of all Liens (except for Permitted Liens). After any such sale and until its delivery to the Company of the purchase price for such REC Provider shall keep its right to receive such purchase price and such amounts received free of all Liens. Subject to the provisions of Section 2.12(d) of this Agreement, the Company hereby delegates, without recourse by Provider to the Company, any and all duties, obligations, responsibilities, claims, demands and other commitments in connection with the RECs, as applicable, unto Provider.
Appears in 9 contracts
Samples: Maintenance Services Agreement (Vivint Solar, Inc.), Maintenance Services Agreement (Vivint Solar, Inc.), Maintenance Services Agreement (Vivint Solar, Inc.)
