REC Tracking Systems. (a) The Parties will use PJM EIS GATS or M-RETS as the tracking system for the Product.
(b) The Parties shall work together to establish a Standing Order for a Designated System for the automatic recurring transfer of all RECs from such Designated System (or the percent of RECs from such Designated System corresponding to the percent of the Actual Nameplate Capacity being subscribed at time of Energization, and as may be amended pursuant to Section 5(e)(iv)(C) of this REC Contract, if the Designated System is a Community Renewable Energy Generation Project) to Buyer’s account in PJM EIS GATS or M-RETS.
(i) 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: the Designated System’s Date of Final Interconnection Approval or the Trade Date of the Product Order that includes the Designated System. 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 REC transfers to recur indefinitely.
(ii) 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 Delivery Term of such Designated System (or as soon as practicable in the case of the removal of a 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. Designated System from this REC Contract) and Buyer shall revoke the Standing Order within thirty (30) days of receipt of such request.
(iii) Buyer shall retire RECs Delivered from Designated Systems by the month after the receipt of such RECs in Buyer’s PJM-EIS GATS or M-RETS account. Buyer is not responsible for, and is under no obligation to return, any inadvertent transfer of RECs from a Designated System, including but not limited to, the Delivery of RECs beyond the Delivery Term of such Designated System if a timely confirmation of a Standing Order amendment is not initiated or timely request for revocation is not submitted by Seller or its design...
REC Tracking Systems. The Parties will use PJM-EIS GATS or M-RETS as selected by Seller as the tracking system for the Product.
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.
(b) The Parties shall work together to establish a Standing Order for a Designated System for the automatic recurring transfer of RECs to Buyer’s account in PJM-EIS GATS or M-RETS. With respect to a Distributed Renewable Energy Generation Device, the Standing Order shall be for the automatic recurring transfer of all RECs from such Designated System. With respect to a Community Renewable Energy Generation Project, the Standing Order shall be for the percent of RECs from such Designated System equal to the multiplicative product of (i) the percent of the Actual Nameplate Capacity being Subscribed at time of Energization and (ii) the result obtained by dividing the Contract Nameplate Capacity by the Actual Nameplate Capacity,3 and as may be adjusted pursuant to Section 2.6, and any undelivered RECs that are not eligible for Delivery under the Standing Order shall be the exclusive property of Seller, to be utilized in Seller’s sole discretion.
(i) 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: the Designated System’s Date of Final Interconnection Approval or the Trade Date of the Product Order that includes the Designated System. 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. When the Standing Order is initially established, the Standing Order shall 3 For avoidance of doubt, the information for purposes of making the calculation required for the Standing Order is submitted by Seller to the IPA as part of its ABP Part II Application requesting Energization. For example, suppose a Designated System is a Community Renewable Energy Generation Project that has the following characteristics:
(1) the Contract Nameplate Capacity is 1,500 kW, (2) the Actual Nameplate Capacity is 2,000 kW and (3) the percent of Actual Nameplate Capacity that has been Subscribed is 75%; then for purposes of establishing the Standing Order, the percent of RECs from such Designated System shall be the multiplicative product of (i) 75% and (ii) the result obtained by dividing (a) the Contract Nameplate Capacity of 1,500 kW by (b) the Actual Nameplate Capacity of 2,000 kW (i.e., the Standing Order shall b...
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. 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. (a) The Parties will use PJM EIS GATS or M-RETS, as selected by Seller, as the tracking system for the Product.
(b) The Parties shall abide by the applicable Delivery rules of PJM EIS GATS or M-RETS. Each Party shall bear the costs associated with performing its respective obligations in connection with such tracking system.
(c) 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.
(d) Seller shall Deliver the RECs in an unretired state.
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.
(b) The Parties shall work together to establish an irrevocable Standing Order for the Project for the automatic recurring transfer of RECs to Buyer’s account in PJM-EIS GATS or M-RETS:
(i) Seller, as transferor of the RECs, shall confirm [Commenter 7 Note: Would Seller be the one to initiate and Buyer would 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.
(ii) 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
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.”
REC Tracking Systems. (a) The Parties will use PJM EIS GATS or M-RETS as the tracking system for the Product.
(b) The Parties shall work together to establish a Standing Order for a Designated System for the automatic recurring transfer of RECs from such Designated System to Buyer’s account in PJM EIS GATS or M-RETS.
(i) 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: the Designated System’s Date of Final Interconnection Approval or the Trade Date of the Product Order that includes the Designated System. 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 may indicate for REC transfers to recur indefinitely.
