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 a Designated System, for which summary information is specified in a Product Order. Seller may not substitute RECs to be generated from a given Designated System with RECs from another generator or with RECs from another Designated System. For avoidance of doubt, Xxxxx is not purchasing Seller’s Designated System and where this Agreement provides for the removal of a Designated System from this Agreement, it is understood that what is being removed from this Agreement is Seller’s right to Deliver RECs and to receive payment for RECs associated with such Designated System. 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 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” under the IPA Act. Designated System Information. RECs Delivered under this Agreement must be from one (1) or more Designated Systems and Seller represents, with respect to a Designated System, as of the date of each Delivery hereunder by such Designated System that is Delivering REC(s) that: as required by Section 1-75(c)(1)(J) of the IPA Act, such Designated System is not and will not be a generating unit whose costs are being recovered through rates regulated by Illinois or any other state or states. as required by Section 1-75(c)(1)(K) of the IPA Act, such Designated System is a new generating unit such that the Date of Final Interconnection Approval did not occur before June 1, 2017. as required by Section 1-75(c)(7) of the IPA Act, such Designated System has been installed by qualified persons in compliance with Section 16-128A of the Public Utilities Act and any rules or regulations adopted thereunder. such Designated System meets the definition of the Class of Resource indicated in the applicable Product Order and meets the requirements specified in the IPA Act or rules promulgated by the ICC for the designated Class of Resource. as required by Section 1-75(c)(1)(Q)(1) of the IPA Act, construction activities related to such Designated System shall be subject to the prevailing wage requirements included in the Prevailing Wage Act, unless such Designated System is exempted from such requirements as indicated in Schedule A (and Schedule B, if applicable) to the Product Order. These requirements apply to the wages of laborers, mechanics, and other workers employed in construction activities related to such Designated System. Applicable construction activities related to the Designated System include not only construction, but also any maintenance, repair, assembly, or disassembly work performed on equipment whether owned, leased, or rented. All construction work performed by Seller, including its contractors and subcontractors, relating to construction, maintenance, repair, assembly, or disassembly work in relation to the Designated System has been or will be performed by employees receiving an amount equal to or greater than the “general prevailing rate of hourly wages,” in the applicable trade classification, as defined in the Prevailing Wage Act. Seller, including its contractors and subcontractors, has provided express notice of these requirements to all laborers, mechanics and other workers employed to perform such work. If a Designated System is determined by the IPA not to be in compliance with any of the applicable provisions of Sections 2.2 (a) through (e) (inclusive), then upon the occurrence of such determination, the IPA shall provide written notice of such non-compliance to Buyer and Seller, and the Designated System shall be removed from this Agreement twenty (20) Business Days after such written notice by the IPA to Buyer and Seller unless Seller demonstrates, within such twenty (20) Business Day period and to the satisfaction of Buyer and the IPA in their reasonable discretion, that such event has not occurred. As soon as practicable after the conclusion of such twenty (20) Business Day period, if Seller fails to demonstrate to the satisfaction of Buyer and the IPA that such non-compliance has not occurred, the IPA shall provide to Buyer and Seller a revised Schedule A (and Schedule B, if applicable), Schedule C and Schedule D to the Product Order for such Designated System indicating the removal of such Designated System from the Agreement. In addition, for non-compliance with Section 2.2(a), Buyer shall be entitled to payment by Seller in the amount of the sum of (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred ten percent (110%) of the total payments, including any Advance of Capital, Seller has received from Buyer associated with RECs from such Designated System; and for non-compliance with any of the provisions of Sections 2.2(b) through (e) (inclusive), Buyer shall be entitled to payment by Seller in the amount of the sum of: (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred percent (100%) of the total payments, including any Advance of Capital, Seller has received from Buyer associated with RECs from such Designated System. The Parties acknowledge that (A) Buyer shall be damaged by the failure of Seller to comply with one or more of Sections 2.2(a) through (e) (inclusive), (B) it would be impracticable or extremely difficult to determine the actual damages resulting therefrom, (C) the remedies specified herein are fair and reasonable and do not constitute a penalty, and (D) the remedies specified in this Section 2.2 shall be Buyer’s sole and exclusive remedy in the event that Seller fails to comply with one or more of Sections 2.2(a) through (e) (inclusive).

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from a Designated System, for which summary information is specified in a Product Order. Seller may not substitute RECs to be generated from a given Designated System with RECs from another generator or with RECs from another other than a Designated System. For avoidance of doubt, Xxxxx is not purchasing Seller’s Designated System and where this Agreement provides for the removal of a Designated System from this Agreement, it is understood that what is being removed from this Agreement it is Seller’s right to Deliver RECs and to receive payment for RECs associated with such Designated SystemSystem that are being removed from this Agreement. 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 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” under the IPA Act. Designated System Information. RECs Delivered under this Agreement must be from one (1) or more Designated Systems and Seller represents, with respect to a Designated System, as of the date of each Delivery hereunder by such Designated System that is Delivering REC(s) that: as required by Section 1-75(c)(1)(J) of the IPA Act, Each such Designated System is not and will not be a generating unit whose costs are being recovered through rates regulated by Illinois or any other state or states. as required by Section 1-75(c)(1)(K) of the IPA Act, Each such Designated System is a new generating unit such that the Date of Final Interconnection Approval did not occur before June 1, 2017. as required by Section 1-75(c)(7) of the IPA Act, such Designated System has been installed by qualified persons in compliance with Section 16-128A of the Public Utilities Act and any rules or regulations adopted thereunder. Each such Designated System meets the definition of the Class of Resource indicated in the applicable Product Order and meets the requirements specified in the IPA Act or rules promulgated by the ICC for the designated Class of Resource. as required by Section 1-75(c)(1)(Q)(1) of the IPA Act, construction activities related to such Designated System shall be subject to the prevailing wage requirements included in the Prevailing Wage Act, unless such Designated System is exempted from such requirements as indicated in Schedule A (and Schedule B, if applicable) to the Product Order. These requirements apply to the wages of laborers, mechanics, and other workers employed in construction activities related to such Designated System. Applicable construction activities related to the Designated System include not only construction, but also any maintenance, repair, assembly, or disassembly work performed on equipment whether owned, leased, or rented. All construction work performed by Seller, including its contractors and subcontractors, relating to construction, maintenance, repair, assembly, or disassembly work in relation to the Designated System has been or will be performed by employees receiving an amount equal to or greater than the “general prevailing rate of hourly wages,” in the applicable trade classification, as defined in the Prevailing Wage Act. Seller, including its contractors and subcontractors, has provided express notice of these requirements to all laborers, mechanics and other workers employed to perform such work. If a Designated System is determined by the IPA not to be in compliance with any of the applicable provisions of Sections 2.2 (a) through (ec) (inclusive), then upon the occurrence of such determination, the IPA shall provide written notice of such non-compliance to Buyer and Seller, Seller and the Designated System shall be removed from this Agreement twenty (20) Business Days after such written notice by the IPA to Buyer and Seller unless Seller demonstrates, within such twenty (20) Business Day period and to the satisfaction of Buyer and the IPA in their reasonable discretion, that such event has not occurred. As soon as practicable after the conclusion of such twenty (20) Business Day period, if Seller fails to demonstrate to the satisfaction of Buyer and the IPA that such non-compliance has not occurred, the IPA shall provide to Buyer and Seller a revised Schedule A (and Schedule B, if applicable), ) and Schedule C and Schedule D to the Product Order for such Designated System indicating the removal of such Designated System from the Agreement. In addition, for non-compliance with Section 2.2(a), Buyer shall be entitled to payment by Seller in the amount of the sum of (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred ten percent (110%) of the total payments, including any Advance of Capital, payments Seller has received from Buyer associated with RECs from such Designated System; and for non-compliance with any of the provisions of Sections 2.2(b) through (ec) (inclusive), Buyer shall be entitled to payment by Seller in the amount of the sum of: (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred percent (100%) of the total payments, including any Advance of Capital, payments Seller has received from Buyer associated with RECs from such Designated System. The Parties acknowledge that (A) Buyer shall be damaged by the failure of Seller to comply with one or more of Sections 2.2(a2.2 (a) through (ec) (inclusive), (B) it would be impracticable or extremely difficult to determine the actual damages resulting therefrom, (C) the remedies specified herein are fair and reasonable and do not constitute a penalty, penalty and (D) the remedies specified in this Section 2.2 shall be Buyer’s sole and exclusive remedy in the event that Seller fails to comply with one or more of Sections 2.2(a2.2 (a) through (ec) (inclusive).

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from a Designated System, for which summary information is specified in a Product Order. Seller may not substitute RECs to be generated from a given Designated System with RECs from another generator or with RECs from another other than a Designated System. For avoidance of doubt, Xxxxx is not purchasing Seller’s Designated System and where this Agreement provides for the removal of a Designated System from this Agreement, it is understood that what is being removed from this Agreement it is Seller’s right to Deliver RECs and to receive payment for RECs associated with such Designated SystemSystem that are being removed from this Agreement. 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 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” under the IPA Act. Designated System Information. RECs Delivered under this Agreement must be from one (1) or more Designated Systems and Seller represents, with respect to a Designated System, as of the date of each Delivery hereunder by such Designated System that is Delivering REC(s) that: as required by Section 1-75(c)(1)(J) of the IPA Act, such Designated System is not and will not be a generating unit whose costs are being recovered through rates regulated by Illinois or any other state or states. states.2 as required by Section 1-75(c)(1)(K) of the IPA Act, such Designated System is a new generating unit such that the Date of Final Interconnection Approval did not occur before June 1, 2017. 3 as required by Section 1-75(c)(7) of the IPA Act, such Designated System has been installed by qualified persons in compliance with Section 16-128A of the Public Utilities Act and any rules or regulations adopted thereunder. thereunder.4 such Designated System meets the definition of the Class of Resource indicated in the applicable Product Order and meets the requirements specified in the IPA Act or rules promulgated by the ICC for the designated Class of Resource. as required by Section 1-75(c)(1)(Q)(1) of the IPA Act, construction activities related to such Designated System shall be subject to the prevailing wage requirements included in the Prevailing Wage Act, unless such Designated System is exempted from such requirements as indicated in Schedule A (and Schedule B, if applicable) to the Product Order. These requirements apply to the wages of laborers, mechanics, and other workers employed in construction activities related to such Designated System. Applicable construction activities related to the Designated System include not only construction, but also any maintenance, repair, assembly, or disassembly work performed on equipment whether owned, leased, or rented. All construction work performed by Seller, including its contractors and subcontractors, relating to construction, maintenance, repair, assembly, or disassembly work in relation to the Designated System has been or will be performed by employees receiving an amount equal to or greater than the “general prevailing rate of hourly wages,” in the applicable trade classification, as defined in the Prevailing Wage Act. Seller, including its contractors and subcontractors, has provided express notice of these requirements to all laborers, mechanics and other workers employed to perform such work. If a Designated System is determined by the IPA not to be in compliance with any of the applicable provisions of Sections 2.2 (a) through (ed) (inclusive), then upon the occurrence of such determination, the IPA shall provide written notice of such non-compliance to Buyer and Seller, Seller and the Designated System shall be removed from this Agreement twenty (20) Business Days after such written notice by the IPA to Buyer and Seller unless Seller demonstrates, within such twenty (20) Business Day period and to the satisfaction of Buyer and the IPA in their reasonable discretion, that such event has not occurred. occurred.5 As soon as practicable after the conclusion of such twenty (20) Business Day period, if Seller fails to demonstrate to the satisfaction of Buyer and the IPA that such non-compliance has not occurred, the IPA shall provide to Buyer and Seller a revised Schedule A (and Schedule B, if applicable), ) and Schedule C and Schedule D to the Product Order for such Designated System indicating the removal of such Designated System from the Agreement. In addition, for non-compliance with Section 2.2(a), Buyer shall be entitled to payment by Seller in the amount of the sum of (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred ten percent (110%) of the total payments, including any Advance of Capital, payments Seller has received from Buyer associated with RECs from such Designated SystemSystem6; and for non-compliance with any of the provisions of Sections 2.2(b) through (ed) (inclusive), Buyer shall be entitled to payment by Seller in the amount of the sum of: (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred percent (100%) of the total payments, including any Advance of Capital, payments Seller has received from Buyer associated with RECs from such Designated System. The Parties acknowledge that (A) Buyer shall be damaged by the failure of Seller to comply with one or more of Sections 2.2(a2.2 (a) through (ed) (inclusive), (B) it would be impracticable or extremely difficult to determine the actual damages resulting therefrom, (C) the remedies specified herein are fair and reasonable and do not constitute a penalty, penalty and (D) the remedies specified in this Section 2.2 shall be Buyer’s sole and exclusive remedy in the event that Seller fails to comply with one or more of Sections 2.2(a2.2 (a) through (ed) (inclusive).

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from a Designated System, for which summary information is specified in a Product Order. Seller may not substitute RECs to be generated from a given Designated System with RECs from another generator or with RECs from another other than a Designated System. For avoidance of doubt, Xxxxx is not purchasing Seller’s Designated System and where this Agreement provides for the removal of a Designated System from this Agreement, it is understood that what is being removed from this Agreement is Seller’s right to Deliver RECs and to receive payment for RECs associated with such Designated System. 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 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” under the IPA Act. Designated System Information. RECs Delivered under this Agreement must be from one (1) or more Designated Systems and Seller represents, with respect to a Designated System, as of the date of each Delivery hereunder by such Designated System that is Delivering REC(s) that: as required by Section 1-75(c)(1)(J) of the IPA Act, such Designated System is not and will not be a generating unit whose costs are being recovered through rates regulated by Illinois or any other state or states. as required by Section 1-75(c)(1)(K) of the IPA Act, such Designated System is a new generating unit such that the Date of Final Interconnection Approval did not occur before June 1, 2017. as required by Section 1-75(c)(7) of the IPA Act, such Designated System has been installed by qualified persons in compliance with Section 16-128A of the Public Utilities Act and any rules or regulations adopted thereunder. such Designated System meets the definition of the Class of Resource indicated in the applicable Product Order and meets the requirements specified in the IPA Act or rules promulgated by the ICC for the designated Class of Resource. as required by Section 1-75(c)(1)(Q)(1) of the IPA Act, construction activities related to such Designated System shall be subject to the prevailing wage requirements included in the Prevailing Wage Act, unless such Designated System is exempted from such requirements as indicated in Schedule A (and Schedule B, if applicable) to the Product Order. These requirements apply to the wages of laborers, mechanics, and other workers employed in construction activities related to such Designated System. Applicable construction activities related to the Designated System include not only construction, but also any maintenance, repair, assembly, or disassembly work performed on equipment whether owned, leased, or rented. All construction work performed by Seller, including its contractors and subcontractors, relating to construction, maintenance, repair, assembly, or disassembly work in relation to the Designated System has been or will be performed by employees receiving an amount equal to or greater than the “general prevailing rate of hourly wages,” in the applicable trade classification, as defined in the Prevailing Wage Act. Seller, including its contractors and subcontractors, has provided express notice of these requirements to all laborers, mechanics and other workers employed to perform such work. If a Designated System is determined by the IPA not to be in compliance with any of the applicable provisions of Sections 2.2 (a) through (e) (inclusive), then upon the occurrence of such determination, the IPA shall provide written notice of such non-compliance to Buyer and Seller, and the Designated System shall be removed from this Agreement twenty (20) Business Days after such written notice by the IPA to Buyer and Seller unless Seller demonstrates, within such twenty (20) Business Day period and to the satisfaction of Buyer and the IPA in their reasonable discretion, that such event has not occurred. As soon as practicable after the conclusion of such twenty (20) Business Day period, if Seller fails to demonstrate to the satisfaction of Buyer and the IPA that such non-compliance has not occurred, the IPA shall provide to Buyer and Seller a revised Schedule A (and Schedule B, if applicable), Schedule C and Schedule D to the Product Order for such Designated System indicating the removal of such Designated System from the Agreement. In addition, for non-compliance with Section 2.2(a), Buyer shall be entitled to payment by Seller in the amount of the sum of (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred ten percent (110%) of the total payments, including any Advance of Capital, Seller has received from Buyer associated with RECs from such Designated System; and for non-compliance with any of the provisions of Sections 2.2(b) through (e) (inclusive), Buyer shall be entitled to payment by Seller in the amount of the sum of: (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred percent (100%) of the total payments, including any Advance of Capital, Seller has received from Buyer associated with RECs from such Designated System. The Parties acknowledge that (A) Buyer shall be damaged by the failure of Seller to comply with one or more of Sections 2.2(a) through (e) (inclusive), (B) it would be impracticable or extremely difficult to determine the actual damages resulting therefrom, (C) the remedies specified herein are fair and reasonable and do not constitute a penalty, and (D) the remedies specified in this Section 2.2 shall be Buyer’s sole and exclusive remedy in the event that Seller fails to comply with one or more of Sections 2.2(a) through (e) (inclusive).

Renewable Energy Credits. The Product to be Delivered by Seller and received by Buyer under this Agreement is RECs generated from a Designated System, for which summary information is specified in a Product Order. Seller may not substitute RECs to be generated from a given Designated System with RECs from another generator or with RECs from another other than a Designated System. For avoidance of doubt, Xxxxx is not purchasing Seller’s Designated System and where this Agreement provides for the removal of a Designated System from this Agreement, it is understood that what is being removed from this Agreement is Seller’s right to Deliver RECs and to receive payment for RECs associated with such Designated System. 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 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” under the IPA Act. Designated System Information. RECs Delivered under this Agreement must be from one (1) or more Designated Systems and Seller represents, with respect to a Designated System, as of the date of each Delivery hereunder by such Designated System that is Delivering REC(s) that: as required by Section 1-75(c)(1)(J) of the IPA Act, Each such Designated System is not and will not be a generating unit whose costs are being recovered through rates regulated by Illinois or any other state or states. as required by Section 1-75(c)(1)(K) of the IPA Act, Each such Designated System is a new generating unit such that the Date of Final Interconnection Approval did not occur before June 1, 2017. as required by Section 1-75(c)(7) of the IPA Act, such Designated System has been installed by qualified persons in compliance with Section 16-128A of the Public Utilities Act and any rules or regulations adopted thereunder. Each such Designated System meets the definition of the Class of Resource indicated in the applicable Product Order and meets the requirements specified in the IPA Act or rules promulgated by the ICC for the designated Class of Resource. as As required by Section 1-75(c)(1)(Q)(156(b-15) of the IPA Act, construction activities related to such Designated System shall be subject to the prevailing wage requirements included in the Prevailing Wage Act, unless such Designated System is exempted from such requirements as indicated in Schedule A (and Schedule B, if applicable) to the Product Order. These requirements apply to the wages of laborers, mechanics, and other workers employed in construction activities related to such Designated System. Applicable construction activities related to the Designated System include not only construction, but also any maintenance, repair, assembly, or disassembly work performed on equipment whether owned, leased, or rented. All construction work performed by Seller, including its contractors and subcontractors, relating to construction, maintenance, repair, assembly, or disassembly work in relation to the Designated System has been or will be performed by employees receiving an amount equal to or greater than the “general prevailing rate of hourly wages,” in the applicable trade classification, as defined in the Prevailing Wage Act. Seller, including its contractors and subcontractors, has provided must provide express notice of these requirements to all laborers, mechanics and other workers employed to perform such work. work.8 If a Designated System is determined by the IPA not to be in compliance with any of the applicable provisions of Sections 2.2 (a3.2(a) through (e3.2(d) (inclusive), then upon the occurrence of such determination, the IPA shall provide written notice of such non-compliance to Buyer and Seller, and the Designated System shall be removed from this Agreement twenty (20) Business Days after such written notice by the IPA to Buyer and Seller unless Seller demonstrates, within such twenty (20) Business Day period and to the satisfaction of Buyer and the IPA in their reasonable discretion, that such event has not occurred. As soon as practicable after the conclusion of such twenty (20) Business Day period, if Seller fails to demonstrate to the satisfaction of Buyer and the IPA that such non-compliance has not occurred, the IPA shall provide to Buyer and Seller a revised Schedule A (and Schedule B, if applicable), Schedule C and Schedule D to the Product Order for such Designated System indicating the removal of such Designated System from the Agreement. In addition, for non-compliance with Section 2.2(a3.2(a), Buyer shall be entitled to payment by Seller in the amount of the sum of (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred ten percent (110%) of the total payments, including any Advance of Capital, payments Seller has received from Buyer associated with RECs from such Designated System; and for non-compliance with any of the provisions of Sections 2.2(b3.2(b) through (ethrough3.2(d) (inclusive), Buyer shall be entitled to payment by Seller in the amount of the sum of: (i) the Collateral Requirement calculated at the time of the Trade Date as specified in Schedule A to the Product Order with respect to such Designated System and (ii) one hundred percent (100%) of the total payments, including any Advance of Capital, payments Seller has received from Buyer associated with RECs from such Designated System. The Parties acknowledge that (A) Buyer shall be damaged by the failure of Seller to comply with one or more of Sections 2.2(a3.2(a) through (e3.2(d) (inclusive), (B) it would be impracticable or extremely difficult to determine the actual damages resulting therefrom, (C) the remedies specified herein are fair and reasonable and do not constitute a penalty, and (D) the remedies specified in this Section 2.2 3.2 shall be Buyer’s sole and exclusive remedy in the event that Seller fails to comply with one or more of Sections 2.2(a3.2(a) through (e3.2(d) (inclusive).