Risk of Loss, Title and Ownership. 3.5.1 Subject to Section 3.6 below, (a) prior to, and through the Delivery Date, REC Supplier shall bear any and all risk of loss with respect to the RECs, and (b) after the Delivery Date, Buyer shall assume and bear any and all risk of loss with respect to the RECs. 3.5.2 Title to the RECs shall transfer from REC Supplier to Buyer as of the Delivery Date, and all RECs Delivered to Buyer by REC Supplier on the Delivery Date shall be: (a) free and clear of all Liens and Buyer shall have sole, exclusive and perpetual ownership of all RECs Delivered to Buyer by REC Supplier under this Agreement, including all rights to sell, assign, transfer, apply or retire any REC transferred to Buyer by REC Supplier; (b) only valid RECs, which have not been previously retired, claimed or used to satisfy any renewable energy requirements, obligations or voluntary undertaking by any entity in any jurisdiction. 3.5.3 After the Delivery Date, Buyer shall be solely entitled to any benefits that may thereafter arise from the RECs.
Appears in 4 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
