Hedged SREC Agreements Clause Samples

Hedged SREC Agreements. With respect to each Hedged SREC Solar Asset: a. All applications, forms and other filings required to be submitted in connection with the procurement of Hedged SREC Payments have been properly made in all material respects under applicable law, rules and regulations and the related Hedged SREC Counterparty has provided a written reservation approval (which may be in the form of electronic mail from the related Hedged SREC Counterparty) for the payment of Hedged SREC Payments. b. All conditions to the payment of Hedged SREC Payments by the related Hedged SREC Counterparty have been satisfied or approved, as applicable, and the Hedged SREC Counterparty’s payment obligation is an absolute and unconditional obligation of the Hedged SREC Counterparty that is not, by the terms of the related Hedged SREC Agreement, subject to offset for any reason. c. Copies of all Hedged SREC Agreements with respect to Hedged SREC Payments have been delivered to the Custodian. d. To the extent that the rights to receive Hedged SREC Payments and the related Hedged SREC Agreement, if any, are not freely assignable without the consent of the Hedged SREC Counterparty, or if consent of or notice to any Person is required for the grant of a security interest, such consent will have been obtained or notice will have been given as of the effective date of the applicable Hedged SREC Agreement. The Hedged SREC Payments are not subject to any law, rule or regulation which would make unlawful the sale, transfer, pledge or assignment of any rights to the Hedged SREC Payments within the regulations set forth with respect to such Hedged SREC Payments. e. Such Hedged SREC Agreement is the legal valid and binding payment obligation of the Hedged SREC Counterparty, enforceable against such Hedged SREC Counterparty in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium or other KL2 3412219.14 laws affecting creditors’ rights generally, and except as such enforceability may be limited by general principles of equity (whether considered at law or in equity). f. The transfer, assignment and pledge of the rights to the Hedged SREC Payments is not subject to and will not result in any tax, fee or governmental charge payable by the Borrower to any federal, state or local government, except as paid. g. The related Hedged SREC Agreement was originated by the Borrower. h. The Borrower has not guaranteed the generation of ...