REC Annual Report. (Seller shall submit a REC Annual Report to Buyer and the IPA no later than July 15 each year following the conclusion of the immediately preceding Delivery Year ending on May 31 in accordance with Section
REC Annual Report. Seller shall submit to Buyer and the IPA a REC Annual Report substantially in the form of Exhibit C-3 by July 15 following the end of each Delivery Year for which this Agreement is effective. 15 For avoidance of doubt, the REC Annual Report is required by Seller regardless of whether Seller has Designated Systems that are Energized or not. If items on the REC Annual Report are deficient or require clarification, Buyer or the IPA may issue to Seller a written notice requesting clarification regarding such submission, and Seller must respond to such request by the deadline specified in such written notice. Additional request for clarifications may be issued to Seller based on the responses provided. It is Seller’s responsibility to ensure the accuracy and completeness of information contained in its REC Annual Report. Buyer or the IPA shall endeavor, on a commercially reasonable efforts basis, to notify Seller of any deficiency no later than October 1. In no event will Seller be allowed to provide further clarification on its REC Annual Report after October 13 following such submission deadline of the REC Annual Report. Failure by Seller to submit its REC Annual Report by July 15 or respond to any request for clarifications that comply with the requirements of Exhibit C-3 by October 13 following such submission deadline is an Event of Default.
REC Annual Report. If a Designated System meets a Community Solar Subscription Mix requirement for a lower Price Adder than what was obtained following the last Community Solar Quarterly Report, the Designated System will be deemed to have obtained that lower Price Adder for the Delivery Year for the purposes of calculating the draw above. If the Designated System regains a Community Solar Subscription Mix and Subscription percentage at or above their contracted amount in subsequent years, a drawdown under this Section 4.2(d) will not occur in those years; however, overperformance in a Delivery Year will not be banked or applied to past Delivery Years. Any draw for a Designated System in a Delivery Year calculated pursuant to this Section 4.2(d) shall be a Drawdown Payment, in addition to any Drawdown Payments calculated under Section 4.2(c)(iv) above. Notwithstanding the foregoing, the Drawdown Payment pursuant to Section 4.2(c)(iv), if applicable, shall be calculated and accounted first before the calculation pursuant to Section 4.2(d) is made, and the sum of the Drawdown Payments calculated pursuant to Section 4.2(c)(iv) and Section 12 As such, the REC Deliveries in each of the Delivery Years accounted for in the Delivery Year REC Performance (i.e., the 3-year rolling average) will be deemed to have the same REC Deliveries in each such Delivery Year (i.e., thereby netting out any specific year underperformance or overperformance) for purposes of calculating the Delivery Year REC Performance in future Delivery Years. 13 For avoidance of doubt, with respect to each Designated System, the calculations in Section 4.2(c) (i)-(iv) are made only after three (3) full Delivery Years after Energization have occurred, while the calculations in Section 4.2(d) are made after one (1) full Delivery Year has occurred after the issuance of the fourth Community Solar Quarterly Report if the Designated System is a Community Renewable Energy Generation Project.
REC Annual Report. Seller shall submit to Buyer and the IPA a REC Annual Report substantially in the form of Exhibit C-3 by August 1 following the end of each Delivery Year for which this Agreement is effective.12 For avoidance of doubt, the REC Annual Report is required by Seller regardless of whether Seller has Designated Systems that are Energized or not. If items on the REC Annual Report are deficient or require clarification, Buyer or the IPA may issue to Seller a written notice requesting clarification regarding such submission, and Seller must respond to such request by the deadline specified in such written notice, or by the extended deadline if an extension is requested by Seller and granted by the IPA. Additional request for clarifications may be issued to Seller based on the responses provided. It is Seller’s responsibility to ensure the accuracy and completeness of information contained in its REC Annual Report. Buyer or the IPA shall endeavor, on a commercially reasonable efforts basis, to notify Seller of any deficiency no later than October 18. In no event will Seller be allowed to provide further clarification on its REC Annual Report after October 30 following such submission deadline of the REC Annual Report. Failure by Seller to submit its REC Annual Report by August 1 or respond to any request for clarifications that comply with the requirements of Exhibit C-3 by October 30 following such submission deadline is an Event of Default. As part of the REC Annual Report, Seller shall report on any Designated Systems that have not Delivered a first REC, and report on any Designated Systems that have not Delivered RECs for more than twelve (12) months from their previous Delivery, and in such case, detail the corrective actions that will be taken to ensure future Deliveries and the time for such REC Deliveries. All corrective actions shall be approved by the IPA, and failure to remedy such REC Delivery deficiency may lead to the removal of the Designated System pursuant to Section 4.2(f). Prevailing Wage Act Requirements. This section applies to Designated Systems that are subject to the requirements of the Prevailing Wage Act as indicated in Schedule A (and Schedule B, if applicable) to the Product Order. Seller, including its contractors and subcontractors, rendering services under this Agreement with respect to such Designated System, must comply with the requirements of the Prevailing Wage Act, including but not limited to, all wage requirements and notice an...
REC Annual Report. If a Designated System meets a Community Solar Subscription Mix requirement for a lower REC price adder than what was obtained following the Community Solar First Year Report, it will be deemed to have obtained that lower adder for the Delivery Year for the purposes of calculating the draw above. If the Designated System regains a Community Solar Subscription mix and subscription percentage at or above their contracted amount in subsequent years, a drawdown will not occur in those years; however, overperformance in a Delivery Year will not be banked or applied to past Delivery Years. Designated Systems with total subscription levels (including only subscription shares of the Anchor Tenant and End Use Customers) above 90% of Actual Nameplate Capacity on a kW capacity basis for a Delivery Year will not be subject to a draw on Seller’s Performance Assurance for that Delivery Year on the basis of subscription percentage. This calculation will only occur after the final Contract Price and quantity of RECs due payment are determined per Section 5(f)(iii) of the Cover Sheet and will be based on that final Contract Price and quantity which is determined by the Community Solar First Year Report submitted pursuant to Section 10(b) of the Cover Sheet. Notwithstanding any of the foregoing, if the total combined percent of Actual Nameplate Capacity that has been subscribed by the Anchor Tenant and by End Use Customers has decreased for a Delivery Year and such decrease is no more than three percentage points (3% points) relative to the total combined percent of Actual Nameplate Capacity that has been subscribed by the Anchor Tenant and by End Use Customers as provided in the Community Solar First Year Report submitted pursuant to Section 10(b) of the Cover Sheet, then no draw shall occur pursuant to this Section 6(e) for such Delivery Year as long as the total combined percent of Actual Nameplate Capacity that has been subscribed by the Anchor Tenant and by End Use Customers for the immediately following Delivery Year is at least equal to the total combined percent of Actual Nameplate Capacity that has been subscribed by the Anchor Tenant and by End Use Customers as provided in the Community Solar First Year Report submitted pursuant to Section 10(b) of the Cover Sheet. In the event, the total combined percent of Actual Nameplate Capacity that has been subscribed by the Anchor Tenant and by End Use Customers has decreased for a Delivery Year and such decrease is no mor...
REC Annual Report. (Seller shall submit a REC Annual Report to Buyer and the IPA no later than August 1 each year following the conclusion of the immediately preceding Delivery Year ending on May 31 in accordance with Section 6.2 of the Agreement. For avoidance of doubt, the REC Annual Report is required by Seller regardless of whether Seller has Designated Systems that are Energized or not. Further, for avoidance of doubt, the REC Annual Report shall not be required of Seller in the same Delivery Year as the Delivery Year when the Agreement was entered into and became effective.16) Buyer: _________________ Seller: _________________ Approved Vendor ID: ______________ Date of REC Annual Report: ________________ Delivery Year: ________________ Batch ID: ______________ Item Information (fill in N/A if not applicable).
REC Annual Report. Seller shall submit to Buyer and the IPA a REC Annual Report substantially in the form of Exhibit C-3 by July 15 following the end of each Delivery Year for which this Agreement is effective.26 For avoidance of doubt, the REC Annual Report is required by Seller regardless of whether Seller has Designated Systems that are Energized or not. If items on the REC Annual Report are deficient or require clarification, Buyer or the IPA may issue to Seller a written notice requesting clarification regarding such submission, and Seller must respond to such request by the deadline specified in such written notice. Additional request for clarifications may be issued to Seller based on the responses provided. It is Seller’s responsibility to ensure the accuracy and completeness of information contained in its REC Annual Report. Buyer or the IPA shall endeavor, on a commercially reasonable efforts basis, to notify Seller of any deficiency no later than October 1. In no event will Seller be allowed to provide further clarification on its REC Annual Report after October 13 following such submission deadline of the REC Annual Report. Failure by Seller to submit its REC Annual Report by July 15 or respond to any request for clarifications that comply with the 25 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. 26 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. requirements of Exhibit C-3 by October 13 following such submission deadline is an Event of Default.
REC Annual Report. (Seller shall submit a REC Annual Report to Buyer and the IPA no later than July 15August 1 each year following the conclusion of the immediately preceding Delivery Year ending on May 31 in accordance with Section 6.3 of the Agreement. For avoidance of doubt, the REC Annual Report is required by Seller regardless of whether Seller has Designated Systems that are Energized or not. Further, for avoidance of doubt, the REC Annual Report shall not be required of Seller in the same Delivery Year as the Delivery Year when the Agreement was entered into and became effective.45) (The REC Annual Report must contain information for each Designated System) Buyer: Seller: Approved Vendor ID:
REC Annual Report. If a Designated System meets a Community Solar Subscription Mix requirement for a lower Price Adder than what was obtained following the last Community Solar Quarterly Report, the Designated System will be deemed to have obtained that lower Price Adder for the Delivery Year for the purposes of calculating the draw above. If the Designated System regains a Community Solar Subscription Mix and Subscription percentage at or above their contracted amount in subsequent years, a drawdown under this Section will not occur in those years; however, overperformance in a Delivery Year will not be banked or applied to past Delivery Years. Any draw for a Designated System in a Delivery Year calculated pursuant to this Section shall be a Drawdown Payment, in addition to any Drawdown Payments calculated under Section above. Notwithstanding the foregoing, the Drawdown Payment pursuant to Section , if applicable, shall be calculated and accounted first before the calculation pursuant to Section is made, and the sum of the Drawdown Payments calculated pursuant to Section and Section shall not exceed the total payment allocable to that Delivery Year based on the Subscription information indicated in the last Community Solar Quarterly Report. Buyer shall include information on any Drawdown Payment amounts due pursuant to this Section for a Delivery Year by written notice, which to the extent possible may be with the written notice specified in Section above for that Delivery Year. For avoidance of doubt, no Surplus RECs can be applied to a Drawdown Payment pursuant to Section .
REC Annual Report. If a Designated System meets a Community Solar Subscription Mix requirement for a lower REC price adderPrice Adder than what was obtained following the last Community Solar Quarterly Report, it will be deemed to have obtained that lower adderPrice Adder for the Delivery Year for the purposes of calculating the draw above. If the Designated System regains a Community Solar Subscription mix and subscriptionSubscription percentage at or above their contracted amount in subsequent years, a drawdown will not occur in those years; however, overperformance in a Delivery Year will not be banked or applied to past Delivery Years. Designated Systems with subscriptionSubscription levels above ninety percent (90%%) of the Actual Nameplate Capacity on a 45 NTD: LTRRPP Section 6.17: “If small subscriber participation levels are not maintained and there are remaining REC payments due, those payments will be reduced (to either the actual small subscriber adder category that has been maintained, or to remove the adder altogether if the level falls below 25%).” 46 NTD: LTRRPP Section 6.17: “For community solar projects, subscription levels must be maintained to remain eligible for REC payments. If the annual report shows that subscriber levels on a rolling average basis have fallen below the subscribership level that the project contractually committed to, then if REC payments are still due, those payments will be reduced as described earlier in this chapter; if all payments have been made, then the Agency will work with the applicable utility on what remedies should be taken including drawing on collateral.”
