CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE. 7.1 Performance Assurance. Seller’s Performance Assurance. Performance Assurance requirement is applicable with respect to Seller, but not with respect to Buyer. For purposes of this Agreement, the Increased Collateral Requirement is applicable if the Delivery of one
CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE. 7.1 Performance Assurance.
CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE. 6 For the avoidance of doubt, any natural person who is an Equity Eligible Person who is part of an Equity Eligible Contractor shall be counted as an Equity Eligible Person for determining whether a Project’s Project Workforce satisfy the minimum percentage indicated in the Product Order for the Minimum Equity Standard.
CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE. 28 For example, if a Community Renewable Energy Generation Project is Energized on May 15, 2021 and assigned Payment Cycle C, then the Community Solar First Year Report would be due on June 10, 2022 for the period May 15, 2021 through May 31, 2022. 29 For example, if the effective date of the Agreement falls between June 1 and July 15 of a calendar year, then the first REC Annual Report is to be submitted by July 15 of the following year.
CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE. 7.1Performance Assurance. Seller’s Performance Assurance. Performance Assurance requirement is applicable with respect to Seller, but not with respect to Buyer. Seller shall be required, within thirty (30) Business Days of the Trade Date of a Product Order, to post Seller’s Performance Assurance through either the: (i) posting of a Letter of Credit; or (ii) posting of cash collateral in the amount indicated as the initial Performance Assurance Requirement on such Product Order with Buyer. For avoidance of doubt, Xxxxxx’s Performance Assurance with respect to a Designated System is required regardless of whether such Designated System is Energized as of the Trade Date or Energized within the thirty (30) Business Day period after the Trade Date. Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the quarterly payment adjustments pursuant to Sections 2.6(a)-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment(s). Additionally, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project based on information in Seller’s ABP Part I Application and ABP Part II Application for such Designated System, Seller shall not be required to post additional Performance Assurance Amount at the time of Energization.
CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE
