Common use of Right to Refuse Certificates Clause in Contracts

Right to Refuse Certificates. If "Physical Settlement" is specified as applying in Section A of Part I (Individual Terms) and if this § 12.3 is specified as applying in Section B of Part I (Individual Terms), to the extent the Seller fails to deliver a quantity of electricity in accordance with § 8 (Primary Obligations For Delivery and Acceptance of Electricity) during a Delivery Period, the Buyer shall have the right, but not the obligation, to refuse the Delivery of Certificates issued in respect of electricity generated during that Delivery Period. Should the Buyer invoke its right to refuse the Delivery of Certificates under this § 12.3, the Buyer shall promptly return to the Seller any Certificates Delivered by the Seller which relate to the quantity of electricity which has not been delivered by the Seller.

Right to Refuse Certificates. If "Physical Settlement" is specified as applying in Section A of Part I (Individual Terms) and if this § 12.3 is specified as applying in Section B of Part I (Individual Terms), to the extent the Seller fails to deliver a quantity of electricity in accordance with § 8 (Primary Obligations For Delivery and Acceptance of Electricity) during a Delivery Period, the Buyer shall have the right, but not the obligation, to refuse the Delivery of Certificates issued in respect of electricity generated during that Delivery Period. Should the Buyer invoke its right to refuse the Delivery of Certificates under this § 12.3, the Buyer shall promptly return to the Seller any Certificates Delivered by the Seller which relate to the quantity of electricity which has not been delivered by the Seller3.