REC Tracking Systems. (a) The Parties will use PJM-EIS GATS or M-RETS as selected by Seller as the tracking system for the Product.
REC Tracking Systems. The Parties will use PJM EIS GATS or M-RETS, as selected by Seller, as the tracking system for the Product. The Parties shall work together to establish an irrevocable Standing Order for the Project for the automatic recurring transfer of RECs to Xxxxx’s account in PJM-EIS GATS or M-RETS: Seller, as transferor of the RECs, shall confirm the Standing Order request within the PJM-EIS GATS or M-RETS within thirty (30) days of the later of: the Project’s Date of Final Interconnection Approval or June 1, 2022. Buyer, as transferee, shall accept the properly submitted Standing Order request within the PJM-EIS GATS or M-RETS within thirty (30) days of receipt of such properly submitted Standing Order request. Buyer and Seller shall work together to remove the Standing Order within ten (10) Business Days after the last Delivery of RECs has occurred for the Acceptable Vintage Period. Buyer and Seller shall work together to suspend the Standing Order within ten (10) Business Days of the effective date of any Suspension Period and to lift such suspension once the Suspension Period has ended. The Standing Order shall be for the automatic recurring transfer of all RECs associated with a Vintage within the Acceptable Vintage Period. Seller shall provide written request to Buyer for the revocation of the Standing Order no earlier than thirty (30) days prior to the end of the Acceptable Vintage Period (or as soon as practicable in the case of an early termination of this Agreement) and Buyer shall revoke the Standing Order within thirty (30) days of receipt of such request. Unless set forth herein, Xxxxx is not responsible for, and is under no obligation to return, any inadvertent transfer of RECs, including but not limited to, the Delivery of RECs that is outside of the Acceptable Vintage Period. Seller shall Deliver the RECs in an unretired state. The Parties shall abide by the applicable rules of PJM-EIS GATS or M-RETS. Seller shall take all actions necessary to ensure creation of RECs and REC Delivery through the Standing Order. Each Party shall bear the costs associated with performing its respective obligations in connection with such tracking system. If applicable in PJM EIS GATS and/or M-RETS, Seller represents that the RECs have been designated as “IL RPS eligible” by that registry, prior to transferring the RECs to Buyer’s PJM EIS GATS account or M-RETS account. TERM OF AGREEMENT Incorporation of Product Order The terms of the Transaction are as specified in thi...
REC Tracking Systems. 16 2.4 Commercial Operation Date 17 2.5 Initial REC Delivery Deadline Extension 18 ARTICLE 3: PRODUCT ORDER; TERM OF AGREEMENT 19 3.1 Incorporation of Product Order 19 3.2 Term of Agreement 19 ARTICLE 4: DELIVERY OBLIGATIONS 19 4.1 Deliveries and Quantity. 19 ARTICLE 5: PAYMENT AND INVOICING 21 5.1 Invoicing. 21 5.2 Payment. 22 5.3 Disputes on Invoices 22 5.4 Cost Recovery through Pass-Through Tariffs. 23 5.5 Taxes and Fees. 23 ARTICLE 6: REPORTING REQUIREMENTS 23 6.1 Prevailing Wage Act Requirements 23 6.2 Project Labor Agreements Requirements 24 6.3 Diversity, Equity, and Inclusion Plan 25 6.4 Status of Project Development 25 ARTICLE 7: CREDIT AND COLLATERAL REQUIREMENTS; PERFORMANCE ASSURANCE 26 7.1 Performance Assurance. 26 7.2 Guaranty. 26 ARTICLE 8: REPRESENTATIONS AND WARRANTIES 26 8.1 Mutual Representations and Warranties. 26 8.2 Additional Warranties of Seller 28 8.3 Limitation of Warranties 28
REC Tracking Systems. The Parties will use PJM EIS GATS or M-RETS as the tracking system for the Product. The Parties shall work together to establish a Standing Order for the Project for the automatic recurring transfer of RECs from the Project as follows: Seller or a designee of Seller, as transferor of the RECs, shall confirm the Standing Order request within the PJM EIS GATS or M-RETS within thirty (30) days of the later of: Date the Project is deemed Energized or the Effective Date. Buyer, as transferee, shall accept the Standing Order request within the PJM EIS GATS or M-RETS within thirty (30) days of receipt of such Standing Order request. When the Standing Order is initially established, the Standing Order shall indicate for 100% of the RECs from the Project to be Delivered and for REC transfers to recur indefinitely. Subsequent to the submission of the First Year Report by Seller pursuant to Section 10(b) of the Cover Sheet, the IPA shall prepare and complete the First Year Confirmation Report substantially in the form of Exhibit A-3 to this REC Contract and provide such First Year Confirmation Report to Buyer and Seller. The First Year Confirmation Report shall be accompanied with instructions for the amendment to the Standing Order. Standing Order shall be amended by Buyer and Seller as soon as practicable after the receipt of the First Year Confirmation Report and instructions by the IPA to amend the Standing Order to reflect the Base Subscription Rate. Such amendment to the Standing Order shall be performed on a prospective basis and not retroactive basis. The written instructions by the IPA shall include information on the Base Subscription Rate, and updated Maximum Contract Value, Annual Contract Value and Collateral Requirement. To calculate the Base Subscription Rate, the IPA will first calculate the average subscription percentage for each of the Quarterly Periods covered in the First Year Report separately. If the period covered by the First Year Report includes an initial stub period that is a partial Quarterly Period, then a separate average subscription percentage shall be calculated for such partial Quarterly Period. For each partial and full Quarterly Period, the subscription percentage will be calculated first as a daily average, then averaged over the partial or full Quarterly Period. This daily average will be based on subscription start and end dates comprised of the day a subscription start or end request was submitted to the utility, as entered in...
REC Tracking Systems. (a) The Parties will use PJM-EIS GATS or M-RETS as selected by Seller as the tracking system for the Product. Commented [SD4]: Regarding the example in footnote 12: Pursuant to Sections 1.36 and 1.81, payment to the Seller is made based on the RECs that can be generated by 100% of Contract Nameplate Capacity, which here is 1,500 kW (a figure that has already incorporated the 75% Subscription rate via Section 1.22), not 75%*1,500 kW. [I’m ignoring the capacity factor.] So I don’t understand why Seller is required to only deliver RECs from 75% of 75% of the Actual Nameplate Capacity of 2,000 kW.
REC Tracking Systems. (a) The Parties will use PJM-EIS GATS or M-RETS as selected by Seller as the tracking system for the Product. Commented [SD4]: Regarding footnote 10 below (which now is labeled as footnote 11 due to a tracked edit I made above). Since Contract Nameplate Capacity is not defined (see § 1.21) based on Subscription rates in this Contract 2, the example in the footnote implies with certainty that Proposed Nameplate Capacity was 1,500 kW. But that would mean that the as-built project size was 33% larger than the Proposed Nameplate Capacity, which exceeds the 25% size change limit in § 2.5(b). So I suggest adjusting the example slightly, perhaps changing 1,500 kW to 1,600.
REC Tracking Systems. (a) The Parties will use PJM EIS GATS or M-RETS as the tracking system for the Product. 2 For example, if a Community Renewable Energy Generation Project is Energized on April 15, 2020, then the first Community Solar Quarterly Report would be due on September 10, 2020 for the period April 15, 2020 through August 31, 2020, and the last Community Solar Quarterly Report would be due on June 10, 2021 for the period commencing March 1, 2021 through May 31, 2021.
REC Tracking Systems. 18 2.4 Initial REC Delivery Deadline Extensions 20 2.5 Other Commitments 21 ARTICLE 3: PRODUCT ORDER; TERM OF AGREEMENT 22 3.1 Incorporation of Product Order 22 3.2 Term of Agreement 222021 ARTICLE 4: DELIVERY OBLIGATIONS 222021 4.1 Deliveries and Quantity. 23 ARTICLE 5: PAYMENT AND INVOICING 242223 5.1 Invoicing. 242223 5.2 Payment. 25 5.3 Disputes on Invoices. 26 5.4 Cost Recovery through Pass-Through Tariffs. 262425 5.5 Taxes and Fees. 27
REC Tracking Systems. 4 NTD: LTRRPP Section 0.0.0.0: “Specifically, after June 1, 2017, RECs from “new photovoltaic projects or new distributed renewable energy generation devices [. . .] must be procured from devices installed by a qualified person in compliance with the requirements of Section 16-128A of the Public Utilities Act and any rules or regulations adopted thereunder.”
