Post-Assignment Funding Of POA Facilities Sample Clauses

Post-Assignment Funding Of POA Facilities. In the event that NYSERDA assumes the Project Agreement in accordance with Section 5.01(a) of this Exhibit B, NYSERDA shall be solely responsible for all obligations under the Project Agreement, including responsibility for making any further capital contributions to Developers, and any liability, causes of action, or claims arising under such Agreement. Following the assumption of all rights and obligations under the Project Agreement by NYSERDA, Sponsor shall make available to NYSERDA in accordance with Section 5.01(c) any amounts of the Sponsor’s Capital Contribution that have not been paid or committed to the Developers under the Project Agreement as of the date of the assignment to NYSERDA minus any amounts paid by Sponsor or its affiliates to Developers to satisfy any claims made by Developers in connection with NYSERDA’s exercise of the Assignment Option or termination of the Project Agreement (“Remaining Capital Contribution”). Following assumption of the Project Agreement, NYSERDA promptly shall provide Sponsor with copies of any notices or other material communications delivered under such agreement, and shall provide Sponsor with quarterly reports detailing the progress of the POA Facilities.
Sample 1
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Post-Assignment Funding Of POA Facilities. In the event that NYSERDA assumes the Project Agreement in accordance with Section 5.02(c) of this Exhibit B, NYSERDA shall be solely responsible for all obligations under the Project Agreement, including responsibility for making any further capital contributions to Developers, and any liability, causes of action, or claims arising under such Agreement. Following the assumption of all rights and obligations under the Project Agreement by NYSERDA, Sponsor shall make available to NYSERDA any Remaining Capital Contribution (calculated in accordance with Section 5.01(b) of this Agreement). The parties understand and agree that the Sponsor’s liability pursuant to this section shall be limited to any Remaining Capital Contribution. Following assumption of the Project Agreement, NYSERDA promptly shall provide Sponsor with copies of any notices or communications delivered under such agreement, and shall provide Sponsor with quarterly reports detailing the progress of the POA Facilities.
Sample 1

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