Tax Incentives Total Compensation Reduction. (i) If at any time prior to the end of the Term, any Person (including Owner or Owner’s Lender, parent, or other Affiliate) realizes any economic or monetary benefit with respect to the Project from Energy Storage Incentive Legislation or other federal or state incentives enacted after the Effective Date (“Economic Benefit”), which Owner shall diligently pursue in accordance with Section 4.1(u), the Total Compensation Amount shall be reduced by an amount equal to seventy percent (70%) of the realized Economic Benefit (the “Reduction Amount”).
Appears in 2 contracts
Samples: Energy Storage Services Agreement, Storage Services Agreement
Tax Incentives Total Compensation Reduction. (i) If at any time prior to the end of the Term, any Person (including Owner or Owner’s Lender, parent, or other Affiliate) realizes any economic or monetary benefit with respect to the Project from Energy Storage Incentive Legislation or other federal or state incentives enacted after the Effective Date (“Economic Benefit”), which Owner shall diligently pursue in accordance with Section 4.1(u4.01(u), the Total Compensation Amount shall be reduced by an amount equal to seventy percent (70%) of the realized Economic Benefit (the “Reduction Amount”).
Appears in 2 contracts
Samples: Storage Services Agreement, Storage Services Agreement
Tax Incentives Total Compensation Reduction. (i) If at any time prior to the end of the Term, any Person (including Owner or Owner’s Lender, parent, or other Affiliate) realizes any economic or monetary benefit with respect to the Project from Energy Storage Incentive Legislation or other federal or state incentives enacted after the Effective Date (“Economic Benefit”), which Owner shall diligently pursue in accordance with Section 4.1(u4.01(u), the Total Compensation Amount shall be reduced by an amount equal to seventy percent (70%XX%) of the realized Economic Benefit (the “Reduction Amount”).
Appears in 2 contracts
Samples: Storage Services Agreement, Energy Storage Services Agreement
Tax Incentives Total Compensation Reduction. (i) If at any time prior to the end of the Term, any Person (including Owner or Owner’s Lender, parent, or other Affiliate) realizes any economic or monetary benefit with respect to the Project from Energy Storage Incentive Legislation or other federal or state incentives enacted after the Effective Date (“Economic Benefit”), which Owner shall diligently pursue in accordance with Section 4.1(u4.01(u), the Total Compensation Amount shall be reduced by an amount equal to seventy percent (70%) of the realized Economic Benefit (the “Reduction Amount”).
Appears in 2 contracts
Samples: Storage Services Agreement, Storage Services Agreement
Tax Incentives Total Compensation Reduction. (i) If at any time prior to the end of the Term, any Person (including Owner or Owner’s Lender, parent, or other Affiliate) realizes any economic or monetary benefit with respect to the Project from Energy Storage Incentive Legislation or other federal or state incentives enacted after the Effective Date (“Economic Benefit”), which Owner shall diligently pursue in accordance with Section 4.1(u), the Total Compensation Amount shall be reduced by an amount equal to seventy percent (70%XX%) of the realized Economic Benefit (the “Reduction Amount”).
Appears in 1 contract
Samples: Storage Services Agreement