Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient, (i) suspend the payment of funds for such period as the IESO determines appropriate; (ii) refuse a Request for Funding; (iii) demand the repayment of an amount equal to any funds the Recipient used for purposes not agreed upon by the IESO or that were improperly paid; and/or (iv) terminate the Funding Agreement. (b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii), inclusive, or 8.4(a)(iv), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support Program. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement. (c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part. (d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” completed up to the Termination for Convenience Date along with a Request for Funding. If the IESO approves the Request for Funding, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant to Section 5.3(b) based on the Project Expenses incurred up to the date of the notice of the termination pursuant to Section 8.3(a)(ix) from the IESO and evidenced by the Request for Funding that have not been covered by previous Disbursements, up to the Maximum Funding Amount. (e) Subject to Section 8.4(b), the IESO may, in its sole and absolute discretion, make a Funding Payment to the Recipient for Project Expenses paid as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costs, expenses or otherwise.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,:
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for FundingFunding Report;
(iii) disburse an amount less than the amount requested in a Request for Funding Report;
(iv) demand the repayment of an amount equal to any funds the Recipient funds: (A) that were used for purposes not agreed upon by the IESO IESO; (B) that have been disbursed to the Recipient but for which the required Deliverables were not provided or, in the opinion of the IESO, there is insufficient documentation evidencing that such funds were spent on Eligible Expenses; or (C) that were improperly paidpaid to the Recipient; and/or
(ivv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii8.3(a)(iv), inclusive, or 8.4(a)(ivSection 8.4(a)(v), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramProject. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix8.3(a)(vii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” C completed up to the Termination for Convenience Date along with a Request for FundingFunding Report and documentation to support the amount in the Request for Funding Report. If the IESO approves the Request for FundingFunding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on the Project Eligible Expenses incurred by the Recipient up to the date of the notice of the termination pursuant to Section 8.3(a)(ix8.3(a)(vii) from the IESO and evidenced by the Request for Funding Report that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(vi), the Recipient shall provide to the IESO, within ten (10) Business Days of receiving written notice of termination, all Deliverables in Schedule C completed up to the date written notice is received, along with a Request for Funding Report. If the IESO approves the Request for Funding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement, the IESO shall pay to the Recipient an amount equal to the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination that have not been covered by previous Disbursements, up to the Maximum Funding Amount. If the IESO determines, based on the Request for Funding Report submitted, that the IESO’s previous Disbursements to the Recipient exceed the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination, the Recipient shall refund any excess funds to the IESO.
(e) Subject to Section 8.4(b8.4(a), the IESO may, in its sole and absolute discretion, make a Funding Payment Disbursement to the Recipient for Project Eligible Expenses paid incurred as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costs, expenses or otherwise.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,:
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for FundingFunding Report;
(iii) disburse an amount less than the amount requested in a Request for Funding Report;
(iv) demand the repayment of an amount equal to any funds the Recipient funds: (A) that were used for purposes not agreed upon by the IESO IESO; (B) that have been disbursed to the Recipient but for which the required Deliverables were not provided or, in the opinion of the IESO, there is insufficient documentation evidencing that such funds were spent on Eligible Expenses; or (C) that were improperly paidpaid to the Recipient; and/or
(ivv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii8.3(a)(iv), inclusive, or 8.4(a)(ivSection 8.4(a)(v), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramCEC Work. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix8.3(a)(vii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” C completed up to the Termination for Convenience Date along with a Request for FundingFunding Report. If the IESO approves the Request for FundingFunding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on the Project Eligible Expenses incurred by the Recipient up to the date of the notice of the termination pursuant to Section 8.3(a)(ix8.3(a)(vii) from the IESO and evidenced by the Request for Funding Report that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(vi), the Recipient shall provide to the IESO, within ten (10) Business Days of receiving written notice of termination, all Deliverables in Schedule C completed up to the date written notice is received, along with a Request for Funding Report. If the IESO approves the Request for Funding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement, the IESO shall pay to the Recipient an amount equal to the Eligible Expenses incurred by the Recipient up to the date of the written notice of the termination that have not been covered by previous Disbursements, up to the Maximum Funding Amount. If the IESO determines, based on the Request for Funding Report submitted, that the IESO’s previous Disbursements to the Recipient exceed the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination, the Recipient shall refund any excess funds to the IESO.
(e) Subject to Section 8.4(b8.4(a), the IESO may, in its sole and absolute discretion, make a Funding Payment Disbursement to the Recipient for Project Eligible Expenses paid incurred as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costs, expenses or otherwise.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,:
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for FundingFunding Report;
(iii) disburse an amount less than the amount requested in a Request for Funding Report;
(iv) demand the repayment of an amount equal to any funds the Recipient funds: (A) that were used for purposes not agreed upon by the IESO IESO; (B) that have been disbursed to the Recipient but for which the required Deliverables were not provided or, in the opinion of the IESO, there is insufficient documentation evidencing that such funds were spent on Eligible Expenses; or (C) that were improperly paidpaid to the Recipient; and/or
(ivv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii8.3(a)(iv), inclusive, or 8.4(a)(ivSection 8.4(a)(v), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramProject. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix8.3(a)(vii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” C completed up to the Termination for Convenience Date along with a Request for FundingFunding Report. If the IESO approves the Request for FundingFunding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on the Project Eligible Expenses incurred by the Recipient up to the date of the notice of the termination pursuant to Section 8.3(a)(ix8.3(a)(vii) from the IESO and evidenced by the Request for Funding Report that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(ed) Subject If the Funding Agreement is terminated pursuant to Section 8.4(b8.3(a)(vi), the Recipient shall provide to the IESO, within ten (10) Business Days of receiving written notice of termination, all Deliverables in Schedule C completed up to the date written notice is received, along with a Request for Funding Report. If the IESO mayapproves the Request for Funding Report, and provided that the Recipient is not in breach of any of its sole and absolute discretionobligations under the Funding Agreement, make a Funding Payment the IESO shall pay to the Recipient for Project an amount equal to the Eligible Expenses paid as of incurred by the Recipient up to the date of the written notice of termination that have not been covered by previous Disbursements, up to the Maximum Funding Amount. If the IESO determines, based on the Request for Funding Report submitted, that the IESO’s previous Disbursements to the Recipient exceed the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination. The , the Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled shall refund any excess funds to any other amounts whether as damages, Costs, expenses or otherwisethe IESO.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for Funding;
(iii) demand the repayment of an amount equal to any funds the Recipient used for purposes not agreed upon by the IESO or that were improperly paidIESO; and/or
(iviii) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii7.2(a)(ii), inclusive7.2(a)(iii), 7.2(a)(iv), 7.2(a)(v), 7.2(a)(vi), 7.2(a)(vii) or 8.4(a)(iv7.4(a)(iii), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramCommunity Energy Plan. The IESO’s remedies hereunder are in addition to any other rights it may have under the this Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the this Funding Agreement.Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the this Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- non-performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix7.2(a)(viii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” D completed up to the Termination for Convenience Date along with a Request for FundingPayment. If the IESO approves the Request for FundingPayment, and provided that the Recipient is not in breach of any of its obligations under the this Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant to Section 5.3(blesser of:
(i) based on 30% of the Maximum Funding Amount, if the Request for Payment is in respect of the First Disbursement, 40% of the Maximum Funding Amount if the Request for Payment is in respect of the Second Disbursement, or 30% of the Maximum Funding Amount if the Request for Payment is in respect of the Final Disbursement, as applicable; and
(ii) the actual Project Expenses incurred up to the date of the notice of the termination pursuant to Section 8.3(a)(ix) from the IESO and evidenced by the Request Recipient for Funding the Deliverables that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(e) Subject to Section 8.4(b7.4(b), the IESO may, in its sole and absolute discretion, make a Funding Payment payment to the Recipient for Project Expenses paid incurred as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costscosts, expenses or otherwise.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,:
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for Funding;
(iii) disburse an amount less than the amount requested in a Request for Funding;
(iv) demand the repayment of an amount equal to any funds the Recipient funds: (A) that were used for purposes not agreed upon by the IESO IESO; (B) that have been disbursed to the Recipient but for which the required Deliverables were not provided or, in the opinion of the IESO, there is insufficient documentation evidencing that such funds were spent on Eligible Expenses; or (C) that were improperly paidpaid to the Recipient; and/or
(ivv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii8.3(a)(iv), inclusive, or 8.4(a)(ivSection 8.4(a)(v), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramProject. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix8.3(a)(vii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” D completed up to the Termination for Convenience Date along with a Request for Funding and documentation to support the amount in the Request for Funding. If the IESO approves the Request for Funding, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on the Project Eligible Expenses incurred by the Recipient up to the date of the notice of the termination pursuant to Section 8.3(a)(ix8.3(a)(vii) from the IESO and evidenced by the Request for Funding that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(ed) Subject If the Funding Agreement is terminated pursuant to Section 8.4(b8.3(a)(vi), the Recipient shall provide to the IESO, within ten (10) Business Days of receiving written notice of termination, all Deliverables in Schedule D completed up to the date written notice is received, along with a Request for Funding. If the IESO mayapproves the Request for Funding, and provided that the Recipient is not in breach of any of its sole and absolute discretionobligations under the Funding Agreement, make a Funding Payment the IESO shall pay to the Recipient for Project an amount equal to the Eligible Expenses paid as of incurred by the Recipient up to the date of the written notice of termination that have not been covered by previous Disbursements, up to the Maximum Funding Amount. If the IESO determines, based on the Request for Funding submitted, that the IESO’s previous disbursements to the Recipient exceed the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination. The , the Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled shall refund any excess funds to any other amounts whether as damages, Costs, expenses or otherwisethe IESO.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for Funding;
(iii) demand the repayment of an amount equal to any funds the Recipient used for purposes not agreed upon by the IESO or that were improperly paid; and/or
(iv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii), inclusive, or 8.4(a)(iv), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project Partnership under the EPP or any Support Program. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” completed up to the Termination for Convenience Date along with a Request for Funding. If the IESO approves the Request for Funding, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on 80% of the Project Expenses incurred up to the date of the notice of the termination pursuant to Section 8.3(a)(ix) from the IESO and evidenced by the Request for Funding that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(e) Subject to Section 8.4(b), the IESO may, in its sole and absolute discretion, make a Funding Payment to the Recipient for Project Expenses paid as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costs, expenses or otherwise.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,:
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for FundingFunding Report;
(iii) disburse an amount less than the amount requested in a Request for Funding Report;
(iv) demand the repayment of an amount equal to any funds the Recipient funds: (A) that were used for purposes not agreed upon by the IESO IESO; (B) that have been disbursed to the Recipient but for which the required Deliverables were not provided or, in the opinion of the IESO, there is insufficient documentation evidencing that such funds were spent on Eligible Expenses; or (C) that were improperly paidpaid to the Recipient; and/or
(ivv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii8.3(a)(iv), inclusive, or 8.4(a)(ivSection 8.4(a)(v), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramProject. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix8.3(a)(vii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” C completed up to the Termination for Convenience Date along with a Request for FundingFunding Report and documentation to support the amount in the Request for Funding Report. If the IESO approves the Request for FundingFunding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on the Project Eligible Expenses incurred by the Recipient up to the date of the notice of the termination pursuant to Section 8.3(a)(ix8.3(a)(vii) from the IESO and evidenced by the Request for Funding Report that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(vi), the Recipient shall provide to the IESO, within ten (10) Business Days of receiving written notice of termination, all Deliverables in Schedule C completed up to the date written notice is received, along with a Request for Funding Report and documentation to support the amount in the Request for Funding Report. If the IESO approves the Request for Funding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement, the IESO shall pay to the Recipient an amount equal to the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination that have not been covered by previous Disbursements, up to the Maximum Funding Amount. If the IESO determines, based on the Request for Funding Report submitted, that the IESO’s previous Disbursements to the Recipient exceed the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination, the Recipient shall refund any excess funds to the IESO.
(e) Subject to Section 8.4(b8.4(a), the IESO may, in its sole and absolute discretion, make a Funding Payment Disbursement to the Recipient for Project Eligible Expenses paid incurred as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costs, expenses or otherwise.
Appears in 1 contract
Samples: Funding Agreement
Remedies of the IESO. (a) If any Default Event is not cured by the date set out in the Notice of Default, then the IESO may, upon written notice to the Recipient,:
(i) suspend the payment of funds for such period as the IESO determines appropriate;
(ii) refuse a Request for FundingFunding Report;
(iii) disburse an amount less than the amount requested in a Request for Funding Report;
(iv) demand the repayment of an amount equal to any funds the Recipient funds: (A) that were used for purposes not agreed upon by the IESO IESO; (B) that have been disbursed to the Recipient but for which the required Deliverables were not provided or, in the opinion of the IESO, there is insufficient documentation evidencing that such funds were spent on Eligible Expenses; or (C) that were improperly paidpaid to the Recipient; and/or
(ivv) terminate the Funding Agreement.
(b) If the Funding Agreement is terminated pursuant to any of Sections 8.3(a)(i) through 8.3(a)(vii8.3(a)(iv), inclusive, or 8.4(a)(ivSection 8.4(a)(v), the IESO may demand the repayment of an amount equal to any funds the IESO provided to the Recipient and the Recipient will not be eligible for any future payments related to the FIT Project under the EPP or any Support ProgramProject. The IESO’s remedies hereunder are in addition to any other rights it may have under the Funding Agreement or otherwise. Nothing in this section limits or impacts any other rights or causes of action that the IESO may have regarding representations, warranties, covenants and indemnities in its favour contained in the Funding Agreement.
(c) If the IESO waives compliance with any of the conditions, obligations or covenants contained in the Funding Agreement, the waiver will be without prejudice to any of its rights of termination in the event of the non-fulfillment, non-observance or non- performance of any other conditions, obligation or covenants in whole or in part.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(ix8.3(a)(vii), the Recipient shall provide to the IESO, within ten (10) Business Days of the Termination for Convenience Date, all Deliverables in Schedule “D” C completed up to the Termination for Convenience Date along with a Request for Funding and documentation to support the amount in the Request for Funding. If the IESO approves the Request for FundingFunding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement as of the Termination for Convenience Date, the IESO shall pay to the Recipient an amount calculated pursuant equal to Section 5.3(b) based on the Project Eligible Expenses incurred by the Recipient up to the date of the notice of the termination pursuant to Section 8.3(a)(ix8.3(a)(vii) from the IESO and evidenced by the Request for Funding Report that have not been covered by previous Disbursements, up to the Maximum Funding Amount.
(d) If the Funding Agreement is terminated pursuant to Section 8.3(a)(vi), the Recipient shall provide to the IESO, within ten (10) Business Days of receiving written notice of termination, all Deliverables in Schedule C completed up to the date written notice is received, along with a Request for Funding. If the IESO approves the Request for Funding Report, and provided that the Recipient is not in breach of any of its obligations under the Funding Agreement, the IESO shall pay to the Recipient an amount equal to the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination that have not been covered by previous Disbursements, up to the Maximum Funding Amount. If the IESO determines, based on the Request for Funding Report submitted, that the IESO’s previous Disbursements to the Recipient exceed the Eligible Expenses incurred by the Recipient up to the date of the written notice of termination, the Recipient shall refund any excess funds to the IESO.
(e) Subject to Section 8.4(b8.4(a), the IESO may, in its sole and absolute discretion, make a Funding Payment Disbursement to the Recipient for Project Eligible Expenses paid incurred as of the date of termination. The Recipient agrees that such amount will be its sole and exclusive payment, and it will not be entitled to any other amounts whether as damages, Costs, expenses or otherwise.
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Samples: Funding Agreement