Tracking System. a. The Parties will use PJM-EIS GATS as the tracking system for the Product. The Parties shall work together to establish an irrevocable Standing Order for the Facility for the automatic recurring transfer of CMCs to Buyer’s account in PJM-EIS GATS. b. The irrevocable Standing Order shall be for the automatic recurring transfer of all CMCs having a Vintage of June 1, 2022 through May 31, 2027 (inclusive). c. Seller, as transferor of the RECsCMCs, shall initiate the irrevocable Standing Order request within the PJM-EIS GATS by May 1, 2022. Buyer, as transferee, shall accept the properly submitted Irrevocable Standing Order request within the PJM-EIS GATS by June 1, 2022. d. Seller shall Deliver the CMCs in an unretired state. Buyer shall retire CMCs Delivered from the Facility by the month after the receipt of such CMCs in Buyer’s PJM-EIS GATS account. Buyer is not responsible for, and is under no obligation to return, any inadvertent transfer of Ineligible CMCs. e. The Parties shall abide by the applicable rules of PJM-EIS GATS. Seller shall take all actions necessary to ensure creation of CMCs and CMC Delivery through the irrevocable Standing Order. Each Party shall bear the costs associated with performing its respective obligations in connection with such tracking system. f. Buyer and Seller shall work together to remove the Standing Order within ten (10) Business Days after the last Delivery of CMCs for the Delivery Term has occurred. Buyer and Seller shall work together to suspend the irrevocable Standing Order within ten (10) Business Days of the effective date of any Suspension Period and to lift such suspension once the Suspension Period has ended. g. Seller represents that the CMCs have been designated as “IL CMC Program eligible” or equivalent by the Tracking System, prior to transferring the CMCs to the Buyer’s Tracking System account.
Appears in 1 contract
Samples: Carbon Mitigation Credit Agreement
Tracking System. a. The Parties will use PJM-EIS GATS as the tracking system for the Product. The Parties shall work together to establish an irrevocable Standing Order for the Facility for the automatic recurring transfer of CMCs to Buyer’s account in PJM-EIS GATS.
b. The irrevocable Standing Order shall be for the automatic recurring transfer of all CMCs having a Vintage of June 1, 2022 through May 31, 2027 (inclusive).
c. Seller, as transferor of the RECsCMCsCMCs, shall initiate the irrevocable Standing Order request within the PJM-EIS GATS by May 1, 2022. Buyer, as transferee, shall accept the properly submitted Irrevocable Standing Order request within the PJM-EIS GATS by June 1, 2022.
d. Seller shall Deliver the CMCs in an unretired state. Buyer shall retire CMCs Delivered from the Facility by the month after the receipt of such CMCs in Buyer’s PJM-EIS GATS account. Buyer is not responsible for, and is under no obligation to return, any inadvertent transfer of Ineligible CMCs.
e. The Parties shall abide by the applicable rules of PJM-EIS GATS. Seller shall take all actions necessary to ensure creation of CMCs and CMC Delivery through the irrevocable Standing Order. Each Party shall bear the costs associated with performing its respective obligations in connection with such tracking system.
f. Buyer and Seller shall work together to remove the Standing Order within ten (10) Business Days after the last Delivery of CMCs for the Delivery Term has occurred. Buyer and Seller shall work together to suspend the irrevocable Standing Order within ten (10) Business Days of the effective date of any Suspension Period and to lift such suspension once the Suspension Period has ended.
g. Seller represents that the CMCs have been designated as “IL CMC Program eligible” or equivalent by the Tracking System, prior to transferring the CMCs to the Buyer’s Tracking System account.
Appears in 1 contract
Samples: Carbon Mitigation Credit Agreement
Tracking System. a. The Parties will use PJM-EIS GATS as the tracking system for the Product. The Parties shall work together to establish an irrevocable Standing Order for the Facility for the automatic recurring transfer of CMCs to Buyer’s account in PJM-EIS GATS.
b. The irrevocable Standing Order shall be for the automatic recurring transfer of all CMCs having a Vintage of June 1, 2022 through May 31, 2027 (inclusive).
c. Seller, as transferor of the RECsCMCsCMCs, shall initiate the irrevocable Standing Order request within the PJM-EIS GATS by May 1, 2022. Buyer, as transferee, shall accept the properly submitted Irrevocable Standing Order request within the PJM-EIS GATS by June 1, 2022.
d. Seller shall Deliver the CMCs in an unretired state. Buyer shall retire CMCs Delivered from the Facility by the month after the receipt of such CMCs in Buyer’s PJM-EIS GATS account. Buyer Xxxxx is not responsible for, and is under no obligation to return, any inadvertent transfer of Ineligible CMCs.
e. The Parties shall abide by the applicable rules of PJM-EIS GATS. Seller shall take all actions necessary to ensure creation of CMCs and CMC Delivery through the irrevocable Standing Order. Each Party shall bear the costs associated with performing its respective obligations in connection with such tracking system.
f. Buyer and Seller shall work together to remove the Standing Order within ten (10) Business Days after the last Delivery of CMCs for the Delivery Term has occurred. Buyer and Seller shall work together to suspend the irrevocable Standing Order within ten (10) Business Days of the effective date of any Suspension Period and to lift such suspension once the Suspension Period has ended.
g. Seller represents that the CMCs have been designated as “IL CMC Program eligible” or equivalent by the Tracking System, prior to transferring the CMCs to the Buyer’s Tracking System account.
Appears in 1 contract
Samples: Carbon Mitigation Credit Agreement
Tracking System. a. The Parties will use PJM-EIS GATS as the tracking system for the Product. The Parties shall work together to establish an irrevocable Standing Order for the Facility for the automatic recurring transfer of CMCs to Buyer’s account in PJM-EIS GATS.
b. . The irrevocable Standing Order shall be for the automatic recurring transfer of all CMCs having a Vintage of June 1, 2022 through May 31, 2027 (inclusive).
c. . Seller, as transferor of the RECsCMCsRECs, shall initiate the irrevocable Standing Order request within the PJM-EIS GATS by May 1, 2022. Buyer, as transferee, shall accept the properly submitted Irrevocable Standing Order request within the PJM-EIS GATS by June 1, 2022.
d. . Seller shall Deliver the CMCs in an unretired state. Buyer shall retire CMCs Delivered from the Facility by the month after the receipt of such CMCs in Buyer’s PJM-EIS GATS account. Buyer is not responsible for, and is under no obligation to return, any inadvertent transfer of Ineligible CMCs.
e. . The Parties shall abide by the applicable rules of PJM-EIS GATS. Seller shall take all actions necessary to ensure creation of CMCs and CMC Delivery through the irrevocable Standing Order. Each Party shall bear the costs associated with performing its respective obligations in connection with such tracking system.
f. . Buyer and Seller shall work together to remove the Standing Order within ten (10) Business Days after the last Delivery of CMCs for the Delivery Term has occurred. Buyer and Seller shall work together to suspend the irrevocable Standing Order within ten (10) Business Days of the effective date of any Suspension Period and to lift such suspension once the Suspension Period has ended.
g. Seller represents that the CMCs have been designated as “IL CMC Program eligible” or equivalent by the Tracking System, prior to transferring the CMCs to the Buyer’s Tracking System account.
Appears in 1 contract
Samples: Carbon Mitigation Credit Agreement