Production Tax Credit. If legislation providing for an extension of tax credits for _________________ a period of at least __________ years in the amount of at least __________________ per MWh, for a [Insert Technology Type] facility placed in service before__________, is not enacted by [Insert Date], then Seller may terminate this Agreement and the Transaction entered into hereunder by written notice to Buyer. If Seller has the right to terminate this Agreement and the Transaction pursuant to this subsection 10.1(c), but fails to send written notice of termination by ______________, then Seller's termination right per this subsection 10.1(c) shall be deemed waived in its entirety.
Production Tax Credit. If the Seller receives the Investment Tax Credit or the Renewable Energy Grant for the Facility, the PTC Adder shall be multiplied by zero (0) megawatt hours. If the Seller does not receive the Investment Tax Credit or the Renewable Energy Grant for the Facility and Production Tax Credits are available for the Energy produced from the Facility, then during the first ten (10) years of the Delivery Term the PTC Adder shall be multiplied by the positive difference of the Available Energy in the Billing Period less the Delivered Energy in the Billing Period. If the Seller does not receive the Investment Tax Credit or the Renewable Energy Grant for the Facility and Production Tax Credits are not available for the Energy produced from the Facility for any part of the first ten
Production Tax Credit. The Production Tax Credit is recorded in FERC Account 409.1. The amounts included for the calculation of income taxes are those amounts attributable to the plant investment related to the production function. Production Tax Credit will exclude amounts related to assets that are direct assigned to participating customers for ratemaking purposes under state retail tariffs. Income Tax Depreciation allowable for the calculation of Federal and State income taxes is based upon the plant investment related to production, nuclear fuel, transmission, distribution and general plant as functionalized. Income Tax Depreciation will exclude amounts related to assets that are direct assigned to participating customers for ratemaking purposes under state retail tariffs. Interest costs associated with debt recorded in FERC Accounts 221-224 is used to calculate the embedded cost of debt. The embedded cost of debt times the debt ratio as determined on Exhibit V, Schedule 6, applied to the rate base determines the interest expense deduction for income taxes. A Preferred Dividend Credit (if any) is allowed on certain preferred stock issues in accordance with Section 247 of the Internal Revenue Code. This credit is reflected in the calculation of income taxes. Depreciation expense and depreciation expense for asset retirement costs are recorded in FERC Account 403 and 403.1, respectively by the plant functional classifications. Depreciation rates used to calculate the depreciation expense for the original cost of plant as classified by functions for this Agreement are shown on Exhibit IX - Specification of Depreciation Rates. Amortization expense included to determine the charges among the Parties are recorded in FERC Accounts 404, 405, 406, and 407. Depreciation and amortization expense will exclude amounts related to assets that are direct assigned to participating customers for ratemaking purposes under state retail tariffs. NSP (Minn)’s demand related cost of service used in determining xxxxxxxx to NSP (Wis) shall include the following annual amounts related to the theoretical reserve surplus. Theoretical Reserve Surplus Amortization Expense included in determining the charges among the Parties is recorded in FERC Account 407.4 (creation of Regulatory Asset) and FERC Account 407.3 (amortization of Regulatory Asset) by the plant functional classifications. In the NSP (Minn) 2013 test year Minnesota retail electric rate case (MPUC Docket No. E002/GR-12-961, order dated Septem...
Production Tax Credit. If federal legislation providing for an extension of Production Tax Credits provided in Section 45 of the Internal Revenue Code, on equivalent terms and conditions (including an escalation factor) as in effect on the Execution Date, for a wind facility placed in service on or before December 31, 2010 ("In-Service Date"), is not enacted by September 30, 2009, and the Guaranteed Commercial Operation Date is in the year 2010 due to an event of Force Majeure or due to a delay in obtaining interconnection service under Section 3.9(c)(v), then Seller may terminate this Agreement without liability by providing Notice of termination and including in such Notice Seller’s determination of the amount of lost economic benefit, determined on an after-tax basis, of the Production Tax Credit, to Buyer on or before October 30, 2009; provided that Buyer may, at its option, override such Notice of termination by providing Notice to Seller within sixty (60) days of receipt of Seller’s Notice to terminate and by agreeing in such Notice to compensate Seller for the amount of lost economic benefit, determined on an after-tax basis, of the Production Tax Credits, either in the amount specified by Seller in its termination Notice or as otherwise mutually agreed to by the Parties prior to Buyer's override Notice. If Buyer does not override the termination Notice provided by Seller to Buyer, then the Agreement shall terminate and Buyer shall return any Project Development Security (including, if applicable, the payment of any interest due thereon pursuant to Section 8.4(d)) to Seller within eighty (80) days after Buyer received Seller's Notice of termination. If, at any time within three (3) years of Seller's termination of the Agreement pursuant to this Section 10.1(c), Seller intends to resume its efforts to complete the Project, then Seller shall provide Notice to Buyer of its intent to complete the Project, and Buyer and Seller shall, for a period of ninety (90) days from Seller's Notice, engage in the negotiation of a revised agreement, including designating (I) a new Contract Price, (II) a new Financing Milestone Date, if applicable, (III) new Guaranteed Project Milestones, if applicable, and (IV) Project Development Security or Delivery Term Security, as applicable. If the Parties are unable to agree upon a revised agreement within ninety (90) days of commencing negotiations, neither Party shall have any further obligation under this Section 10.1(c).
Production Tax Credit. Investment Tax Credit According to Xxxxx, the Project will make use of the Federal Investment Tax Credit (“ITC”) for solar renewable energy facilities. Further details are addressed in Confidential Appendix D.
Production Tax Credit. Investment Tax Credit CMS has informed PG&E that the Project is eligible for the Investment Tax Credit. Further detail is included in Confidential Appendix A.
Production Tax Credit. Investment Tax Credit Given Bottle Rock’s commercial operating date of October 2007, all production from the Project is eligible to earn federal production tax credits (“PTCs”) through September 2017. However, negative operating cash flow since the start of operations has hampered Bottle Rock’s ability to monetize the PTCs. The A&R PPA will enable Bottle Rock to Advice 4048-E May 25, 2012 operate at cash flow positive, qualifying the Project for tax equity financing and allowing the plant to monetize both its PTCs and depreciation to finance expansion activities.
Production Tax Credit. Investment Tax Credit enXco will utilize either the Investment Tax Credit (“ITC”) or the Production Tax Credit (“PTC”) for the Project. Further discussion is included in Confidential Appendix A.
