Systems Requirements. (i) None of the Systems has been Placed in Service and (ii) the Systems to be purchased with proceeds of the Initial Funding Payment meet the requirements of Section 48 of the Code including that (A) each System has an electricity-only generation efficiency greater than 30 percent, (B) the Grant or any Alternative Tax Program (if elected pursuant to Section 7.5(b)(i) of the Company LLC Agreement) with respect to each System is not expected to be limited by Section 48(c)(l)(B); but if the Grant or any Alternative Tax Program is so limited, such limitation has been accounted for in computing the amount of Investor’s Capital Contribution as described in Section 2.2 hereof; and (C) each System is a “fuel cell power plant” within the meaning of Section 48(c)(l) of the Code.
Appears in 4 contracts
Samples: Equity Capital Contribution Agreement (Bloom Energy Corp), Equity Capital Contribution Agreement (Bloom Energy Corp), Equity Capital Contribution Agreement (Bloom Energy Corp)
