Creation of SRECs. A. When (i) Seller’s Project has been constructed, and registered, inspected and certified, with and by, OCE as capable of producing SRECs eligible for use in complying with the RPS, (ii) the Conditions Precedent as set forth in Section A of the attached General Terms and Conditions have been satisfied, completed or waived by Us, and (iii) you have delivered your written notice to Us that Seller’s Project is operational, You shall begin to sell and deliver SRECs to Us.
Creation of SRECs. Lender will seek to obtain the generation output data from the Project on a monthly basis and report such data to the SREC Program Administrator, which is responsible for creating the Project SRECs. Consistent with the 2013 Order, if Xxxxxx is unable to obtain generation output data from the Project for any reason, no data will be reported to the SREC Program Administrator and SRECs will not be created or credited to the Loan until the generation output data is next obtained and reported to the SREC Program Administrator. Borrower may, at its sole cost and expense, arrange for the installation of additional revenue-grade metering equipment which is capable of measuring the electricity generated from the Project in accordance with the Program requirements. Lender may use the generation output data from such additional metering equipment to report to the SREC Program Administrator. Borrower will cooperate and do all things necessary to ensure that all Project SRECs are credited to Xxxxxx in a timely manner.
Creation of SRECs. A. Subject to Section 5.A. below, when (i) Seller’s Project has been constructed, and registered, inspected and certified, with and by, OCE as capable of producing SRECs eligible for use in complying with the RPS, (ii) the Conditions Precedent as set forth in Section A of the attached General Terms and Conditions have been satisfied, completed or waived by Us, and (iii) you have delivered your written notice to Us that Seller’s Project is operational, as set forth in Section 5.A. below, You shall begin to sell and deliver SRECs to Us.
