Common use of Renewable Energy Credits Clause in Contracts

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from the Project, for which summary information is specified in the Product Order. Seller may not substitute RECs generated from a generator other than the Project. For avoidance of doubt, Xxxxx is not purchasing Seller’s Project and Buyer shall have no ownership interest in, or responsibility for, the Project. For avoidance of doubt, subject to Section 3.2(e), there is no restriction on changes to the Nameplate Capacity of the Project during the Term of this Agreement; provided that if the Project is a Utility-Scale Wind Project or a Utility-Scale Solar Project, the Nameplate Capacity remains greater than 5,000 kilowatts. Environmental Attributes. Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party, except as provided in Section 3.1(c), Section 5.1(i), and Section 6.4, but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” and “indexed renewable energy credit” under the IPA Act. No payment shall be due for any REC(s) that are associated with the generation of electricity that occurred outside the Acceptable Vintage Period (such RECs, “Ineligible RECs”). Neither Party shall have an obligation to the other Party with respect to any Ineligible RECs, which are not eligible for payment. In the event that Ineligible RECs are Delivered to Buyer, such RECs shall be disposed pursuant to Section 3.3(f). All RECs Delivered that are eligible for payment and that are not to be returned to Seller pursuant to Section 3.3(f) will be retired by Xxxxx. Buyer shall use commercially reasonable efforts to retire RECs within one hundred twenty (120) days after the receipt of the RECs associated with the month of May in each Delivery Year that is not the last Delivery Year and within one hundred twenty (120) days after the receipt of the RECs associated with the Latest Vintage Month in the last Delivery Year. For avoidance of doubt, neither the transfer of title nor the inadvertent retirement of a REC that is not eligible for payment in the Tracking System obligates Buyer to make payment to Seller or Seller to make payment to Buyer for such RECs except as provided in Section 3.3(f).

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from the Project, for which summary information is specified in the Product Order. Seller may not substitute RECs generated from a generator other than the Project. For avoidance of doubt, Xxxxx is not purchasing Seller’s Project and Buyer shall have no ownership interest in, or responsibility for, the Project. For avoidance of doubt, subject to Section 3.2(e), there is no restriction on changes to the Nameplate Capacity of the Project during the Term of this Agreement; provided that if the Project is a Utility-Scale Wind Project or a Utility-Scale Solar Project, the Nameplate Capacity remains greater than 5,000 kilowatts. Environmental Attributes. Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party, except as provided in Section 3.1(c), Section 5.1(i), and Section 6.4, but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” and “indexed renewable energy credit” under the IPA Act. No payment shall be due for any REC(s) that are associated with the generation of electricity that occurred outside the Acceptable Vintage Period (such RECs, “Ineligible RECs”). Neither Party shall have an obligation to the other Party with respect to any Ineligible RECs, which are not eligible for payment. In the event that Ineligible RECs are Delivered to Buyer, such RECs shall be disposed pursuant to Section 3.3(f). All RECs Delivered that are eligible for payment and that are not to be returned to Seller pursuant to Section 3.3(f) will be retired by Xxxxx. Buyer shall use commercially reasonable efforts to retire RECs within one hundred twenty (120) days after the receipt of the RECs associated with the month of May in each Delivery Year that is not the last Delivery Year and within one hundred twenty (120) days after the receipt of the RECs associated with the Latest Vintage Month in the last Delivery Year. For avoidance of doubt, neither the transfer of title nor the inadvertent retirement of a REC that is not eligible for payment in the Tracking System obligates Buyer to make payment to Seller or Seller to make payment to Buyer for such RECs except as provided in Section 3.3(f).

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from the Project, for which summary information is specified in the Product Order. Seller may not substitute RECs generated from a generator other than the Project. For avoidance of doubt, Xxxxx is not purchasing Seller’s Project and Buyer shall have no ownership interest in, or responsibility for, the Project. For avoidance of doubt, subject to Section 3.2(e), there is no restriction on changes to the Nameplate Capacity of the Project during the Term of this Agreement; provided that if the Project is a Utility-Scale Wind Project or a Utility-Scale Solar Project, the Nameplate Capacity remains greater than 5,000 kilowatts. Environmental Attributes. Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party, except as provided in Section 3.1(c), Section 5.1(i), and Section 6.4, but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” and “indexed renewable energy credit” under the IPA Act. No payment shall be due for any REC(s) that are associated with the generation of electricity that occurred outside the Acceptable Vintage Period (such RECs, “Ineligible RECs”). Neither Party shall have an obligation to the other Party with respect to any Ineligible RECs, which are not eligible for payment. In the event that Ineligible RECs are Delivered to Buyer, Seller provide written notice to Buyer informing of such transfer within sixty (60) days of such inadvertent transfer. Buyer shall return any Ineligible RECs shall be disposed pursuant to Section 3.3(f)within sixty (60) days of receipt of Seller’s timely submitted notice. All RECs Delivered that are eligible for payment and that are not to be returned to Seller pursuant to Section 3.3(f3.1(c), Section 5.1(i) and Section 6.4 will be retired by Xxxxx. Buyer shall use commercially reasonable efforts to retire RECs within one hundred twenty (120) days after the receipt of the RECs associated with the month of May in each Delivery Year that is not the last Delivery Year and within one hundred twenty (120) days after the receipt of the RECs associated with the Latest Vintage Month in the last Delivery Year. For avoidance of doubt, neither the transfer of title nor the inadvertent retirement of a REC that is not eligible for payment in the Tracking System obligates Buyer to make payment to Seller or Seller to make payment to Buyer for such RECs except as provided in Section 3.3(f)RECs.

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from the Project, for which summary information is specified in the Product Order. Seller may not substitute RECs generated from a generator other than the Project. For avoidance of doubt, Xxxxx is not purchasing Seller’s Project and Buyer shall have no ownership interest in, or responsibility for, the Project. For avoidance of doubt, subject to Section 3.2(e), there is no restriction on changes to the Nameplate Capacity of the Project during the Term of this Agreement; provided that if the Project is a Utility-Scale Wind Project or a Utility-Scale Solar Project, the Nameplate Capacity remains greater than 5,000 kilowatts. Environmental Attributes. Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party, except as provided in Section 3.1(c), Section 5.1(i), and Section 6.4, but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” and “indexed renewable energy credit” under the IPA Act. No payment shall be due for any REC(s) that are associated with the generation of electricity that occurred outside the Acceptable Vintage Period (such RECs, “Ineligible RECs”). Neither Party shall have an obligation to the other Party with respect to any Ineligible RECs, which are not eligible for payment. In the event that Ineligible RECs are Delivered to Buyer, Buyer shall use commercially reasonable efforts to reject such RECs shall be disposed pursuant to Section 3.3(f)Ineligible RECs. All RECs Delivered that are eligible for payment and that are not to be returned to Seller pursuant to Section 3.3(f) 6.4 will be retired by Xxxxx. Buyer shall use commercially reasonable efforts to retire RECs within one hundred twenty (120) 120 days after the receipt of the RECs associated with the month of May in each Delivery Year that is not the last Delivery Year and within one hundred twenty (120) days after the receipt of the RECs associated with the Latest Vintage Month in the last Delivery Year. For avoidance of doubt, neither the transfer of title nor the inadvertent retirement of a REC that is not eligible for payment in the Tracking System obligates Buyer to make payment to Seller or Seller to make payment to Buyer for such RECs except as provided in Section 3.3(f)RECs.