Common use of REC Annual Report Clause in Contracts

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. If a Designated System meets a Community Solar Subscription Mix requirement for a lower Price REC price adderPrice Adder than what was obtained following followingbased on the last information in the Community Solar Quarterly First Year Report, the itthe Designated System will be deemed to have obtained that lower Price adderPrice Adder for the Delivery Year for the purposes of calculating the draw above. If the Designated System regains a Community Solar Subscription Mix mixMix and Subscription subscriptionSubscription 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, 4.2(d) shall not exceed the REC Deliveries in each of total payment allocable to that Delivery Year based on the Delivery Years accounted for Subscription information indicated in the Community Solar First Year Report. Buyer shall include information on any Drawdown Payment amounts due pursuant to this Section 4.2(d) for a Delivery Year REC Performance (i.e.by written notice, which to the 3-year rolling averageextent possible may be with the written notice specified in Section 4.2(c)(v)(A) will be deemed to have the same REC Deliveries in each such above for that 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 YearsYear. 13 For avoidance of doubt, with respect no Surplus RECs can be applied 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 a Drawdown Payment pursuant to 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. If a Designated System meets a Community Solar Subscription Mix requirement for a lower REC Price Adder than what was obtained following the last Community Solar Quarterly Report, the itthe 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. 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 4.2(d) 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 4.2(d) for a Delivery Year by written notice, which to the extent possible may be with the written notice specified in Section 4.2(c)(v)1.1(a)(i)(a)(i) above for that Delivery Year. For avoidance of doubt, no Surplus RECs can be applied to a Drawdown Payment pursuant to Section 4.2(d).

REC Annual Report. If a Designated System meets a Community Solar Subscription Mix requirement for a lower Price REC price adderPrice Adder than what was obtained following the last Community Solar Quarterly Report, it the Designated System will be deemed to have obtained that lower Price adderPrice Adder for the Delivery Year for the purposes of calculating the draw above. If the Designated System regains a Community Solar Subscription Mix mixMix and Subscription subscriptionSubscription 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, 4.2(d) shall not exceed the REC Deliveries in each of total payment allocable to that Delivery Year based on the Delivery Years accounted for Subscription information indicated in the last Community Solar Quarterly Report. Buyer shall include information on any Drawdown Payment amounts due pursuant to this Section 4.2(d) for a Delivery Year REC Performance (i.e.by written notice, which to the 3-year rolling averageextent possible may be with the written notice specified in Section 4.2(c)(v)(A) will be deemed to have the same REC Deliveries in each such above for that 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 YearsYear. 13 For avoidance of doubt, with respect no Surplus RECs can be applied 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 a Drawdown Payment pursuant to 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).