Common use of ROC Revocation Clause in Contracts

ROC Revocation. 6.6.1 In the event that a ROC which has been transferred to the Supplier under this Agreement is subsequently revoked by the Authority prior to the Specified Day in respect of the obligation period to which the revoked ROC relates (if applicable), the Generator shall be liable to refund the Supplier an amount equal to the number of ROCs multiplied by, in the case of ROCs, the average ROC price obtained in the most recent ROC auction held by the Generator's Agent provided the Supplier notifies the Generator within 7 Banking Days of receipt of notice of the relevant revocation. 6.6.2 A party receiving the revocation notice issued by the Authority or a copy thereof shall as soon as reasonably practicable, and in any event no later than 3 Banking Days following receipt, provide the other party, and the Generator's Agent with a copy of the notice.

ROC Revocation. 6.6.1 In the event that a ROC which has been transferred to the Supplier Buyer or the Buyer’s Agent under this Agreement is subsequently revoked by the Authority prior to the Specified Day in respect of the obligation period to which the revoked ROC relates (if applicable), the Generator shall be liable to refund the Supplier Buyer an amount equal to the number of ROCs multiplied by, in the case of ROCs, the average ROC price obtained in the most recent ROC auction held by the Generator's Agent provided the Supplier Buyer notifies the Generator within 7 Banking Days of receipt of notice of the relevant revocation. 6.6.2 A party receiving the revocation notice issued by the Authority or a copy thereof shall as soon as reasonably practicable, and in any event no later than 3 Banking Days following receipt, provide the other party, and the Generator's Agent with a copy of the notice.