Seller’s Right to Sell RECs to Third Parties in Certain Circumstances Sample Clauses

Seller’s Right to Sell RECs to Third Parties in Certain Circumstances. In the event that the Generator or the Electrical Output is finally determined not to be an “eligible renewable resource” under I-937 (a “Non-Eligibility Determination”), the District shall continue to purchase the Electrical Output from the Generator but the Contract Price shall be adjusted as provided in Section 21.8.5. In addition, after any Non-Eligibility Determination, the District may continue to purchase all Environmental Attributes associated with the Electrical Output from the Generator by paying to Seller the Contract Price including the Tradable Renewable Energy Credit Value but not including the Distributed Generation Credit. If, after a Non- Eligibility Determination, the District elects not to purchase the Environmental Attributes associated with the Generator from Seller, it shall so notify Seller within sixty (60) days after receiving the Non-Eligibility Determination, and, Seller shall have the right, from the date of the Non-Eligibility Determination, to sell unbundled RECs associated with the Electrical Output of the Generator to a party other than the District notwithstanding any other provision of this Agreement. If the District does not make an election within such sixty (60) day period to cease purchasing and paying for Environmental Attributes, the District shall continue purchasing and paying for Environmental Attributes as provided in this Agreement. In the event the District elects to discontinue its purchase of Environmental Attributes after a Non-Eligibility Determination, Seller shall be deemed to have retained the REC for which the District did not pay, along with the associated Renewable Energy Certificate Reporting Rights, and shall have the right to use such retained REC or transfer it to a third party, provided that the parties shall cooperate to transfer any such RECs from the District’s WREGIS account to Seller’s WREGIS account, and provided further that Seller shall not in any event sell, trade, or otherwise claim any RECs or Renewable Energy Certificate Reporting Rights to which the District has retained title. For purposes of this provision, “finally determined” means that the determination can no longer be appealed, whether because of the expiration of the applicable appeal period or otherwise.
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Related to Seller’s Right to Sell RECs to Third Parties in Certain Circumstances

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