Common use of Treatment of Performance Assurance in Connection with Interconnection Clause in Contracts

Treatment of Performance Assurance in Connection with Interconnection. Cost Estimates Upon Seller’s request, 75% of Performance Assurance will be refundable if, prior to the Energization, an Interconnection Customer (as defined in Section 466.30 of Title 83 of the Illinois Administrative Code) seeking to interconnect the Project receives from the interconnecting utility a non-binding estimate of costs to construct the interconnection facilities and any required distribution upgrades in an amount exceeding 30 cents per watt AC of the Project’s Proposed Nameplate Capacity. To obtain such refund, Seller’s request must be made to Buyer and the IPA within ten (10) Business Days of having received the subject interconnection cost estimate and must be accompanied by a) documentation substantiating the cost estimate and b) a request to terminate the Agreement. Upon the recognition of such request and substantiation of the interconnection cost estimate, Buyer shall terminate the Agreement and refund 75% of the Collateral Requirement. In all such cases, the remaining 25% of Collateral Requirement would be permanently forfeited.”

Treatment of Performance Assurance in Connection with Interconnection. Cost Estimates Upon Seller’s request, 75% of Performance Assurance will be refundable if, prior to the Energization, an Interconnection Customer (as defined in Section 466.30 of Title 83 of the Illinois Administrative Code) seeking to interconnect the Project receives from the interconnecting utility a non-binding estimate of costs to construct the interconnection facilities and any required distribution upgrades in an amount exceeding 30 cents per watt AC of the Project’s Proposed Nameplate Capacity. To obtain such refund, Seller’s request must be made to Buyer and the IPA within ten (10) Business Days of having received the subject interconnection cost estimate and must be accompanied by a) documentation substantiating the cost estimate and b) a request to terminate the Agreement. Upon the recognition of such request and substantiation of the interconnection cost estimate, Buyer shall terminate the Agreement and refund 75% of the Collateral Requirement. In all such cases, the remaining 25% of Collateral Requirement would be permanently forfeited.”