REC Tracking System. The Seller shall transfer RECs associated with the generation from the Facility for each month via WREGIS pursuant to the timelines in WREGIS Operating Rules. Each Party shall be responsible for setting up an account with WREGIS.
REC Tracking System. The Seller shall transfer RECs associated with the Buyer’s Output Share of the generation from the Facility for each month via WREGIS pursuant to the timelines in WREGIS Operating Rules. Each party shall be responsible for setting up an account with WREGIS. Progress Reporting After execution of the PPA, Seller shall provide a monthly report to Buyer that (a) describes the progress towards meeting the Project Development Milestones; (b) identifies any missed Project Development Milestones, including the cause of the delay; and (c) provides a detailed description of Seller’s corrective actions to achieve the missed Project Development Milestones and all subsequent Project Development Milestones by the Guaranteed Commercial Operation Date. Progress reporting shall also include reporting on small business activities pursuant to the Small Business section of the RFP. In the event Seller misses any Project Development Milestones and cannot reasonably demonstrate a plan for completing the Facility by the Guaranteed COD, Buyer shall have the right to terminate the PPA and retain the Development Security as damages, in addition to any other remedies it may have at law or equity. Credit Requirements The Seller shall post security as follows: Development Security – As Available $60,000 per MW of Buyer’s Contract Capacity for the period between PPA Effective Date and COD Development Security – Dispatchable - includes As Available systems plus storage $90,000 per MW of Buyer’s Contract Capacity for the period between PPA Effective Date and COD Delivery Term Security – As Available $75,000 per MW of Buyer’s Contract Capacity for the period following COD Delivery Term Security – Dispatchable - includes As Available systems with storage $105,000 per MW of Buyer’s Contract Capacity for the period following COD The form of security shall be a letter of credit or cash escrow. Within five (5) Business Days following any draw by Buyer on the Development Security or the Delivery Term Security, Seller shall replenish the amount drawn such that the security is restored to the applicable amount. Prevailing Wage Seller shall comply with all federal, state and local laws, statutes, ordinances, rules and regulations, and the orders and decrees of any courts or administrative bodies or tribunals, including, without limitation employment discrimination laws and prevailing wage laws. RPS Compliance Seller must ensure the Facility obtains CEC pre-certification prior to the COD, obtains C...
REC Tracking System. Seller shall transfer RECs associated with Delivered Energy for each month via WREGIS pursuant to the timelines in WREGIS Operating Rules. Each party shall be responsible for setting up an account with WREGIS.
