Common use of Representations of the Sponsor Clause in Contracts

Representations of the Sponsor. The Sponsor hereby represents and warrants to the County as follows: (a) The Sponsor is duly organized and in good standing under the laws of the State of South Carolina, has power to enter into this Fee Agreement, and by proper company action has duly authorized the execution and delivery of this Fee Agreement. (b) The Sponsor’s execution and delivery of this Fee Agreement and its compliance with the provisions hereof will not result in a default, not waived or cured, under any company restriction or any agreement or instrument to which the Sponsor is now a party or by which it is bound. (c) The Sponsor intends to operate the Project as a “project” within the meaning of the Act as in effect on the date hereof. The Sponsor intends to develop, install or operate, as applicable solar power generating facilities, to conduct other legal activities and functions with respect thereto, and for such other purposes permitted under the Act as the Sponsor may deem appropriate. (d) The availability of the payment in lieu of taxes with regard to the Economic Development Property authorized by the Act has induced the Sponsor to undertake the Project in the County. (e) The Sponsor plans and commits to achieve its Project Commitment by the end of the Investment Period. (f) The income tax year of the Sponsor, and accordingly the property tax year, for federal income tax purposes, ends on December 31. (g) The Sponsor and the Project shall comply with the County’s Development Standards Ordinance as applicable to solar energy systems at the time Sponsor has submitted or caused to be submitted an application for any required zoning permits, as well as the decommissioning requirement that appears in the County’s Development Standards Ordinance as of the date of this Fee Agreement.1

Representations of the Sponsor. The Sponsor hereby represents and warrants to the County as follows: (a) The Sponsor is duly organized and in good standing under the laws of the State of South Carolina, has power to enter into this Fee Agreement, and by proper company action has duly authorized the execution and delivery of this Fee Agreement. (b) The Sponsor’s execution and delivery of this Fee Agreement and its compliance with the provisions hereof will not result in a default, not waived or cured, under any company restriction or any agreement or instrument to which the Sponsor is now a party or by which it is bound. (c) The Sponsor intends to operate the Project as a “project” within the meaning of the Act as in effect on the date hereof. The Sponsor intends to develop, install or operate, as applicable solar power generating facilities, to conduct other legal activities and functions with respect thereto, and for such other purposes permitted under the Act as the Sponsor may deem appropriate. (d) The availability of the payment in lieu of taxes with regard to the Economic Development Property authorized by the Act has induced the Sponsor to undertake the Project in the County. (e) The Sponsor plans and commits to achieve its Project Commitment by the end of the Investment Period. (f) The income tax year of the Sponsor, and accordingly the property tax year, for federal income tax purposes, ends on December 31. (g) The Sponsor and the Project shall comply with the County’s Development Standards Ordinance as applicable to solar energy systems at the time Sponsor has submitted or caused to be submitted an application for any required zoning permits, as well as the decommissioning requirement that appears in the County’s Development Standards Ordinance as of the date of this Fee Agreement.1Agreement.1 project: 1 The Development Standards Ordinance as of the date of this Fee Agreement requires that a solar energy “Submit and maintain an updated facility decommission plan. The latest facility decommission plan shall be recorded in the county's clerk of courts office. An applicant must include a decommissioning plan that describes the anticipated life of the solar energy system. Following a continuous six (6) month period in which no electricity is generated, the permit holder will have six (6) months to complete decommissioning of the solar energy system. Decommissioning includes removal of solar panels, buildings, cabling, electrical components and any other associated facilities below grade as described in the decommissioning plan. No later than thirty (30) days following the sixth (6th) anniversary of the operation date of the solar energy system, the owner of the solar energy system must provide Darlington County with a $50,000 surety or performance bond to be maintained by the solar energy system owner or subsequent owner(s) until the solar energy system is decommissioned. Prior to the issuance of any electrical permit, the owner of the solar energy system must submit a notarized affidavit acknowledging the above decommissioning obligations. Decommissioning Plan must be passed by conveyance to successive owner(s).”