Common Contracts

Proforma Term Sheet

California • October 25th, 2021

• Jurisdiction
  California
• Filed
  October 25th, 2021

THIS TERM SHEET (“Term Sheet”) includes the key commercial terms and conditions to be included in a proposed power purchase agreement (“PPA”) to be negotiated between California Community Power, a California joint powers authority (“Buyer”) and [e.g., Project Company LLC] [state and type of corporate formation] (“Seller”) (the “Proposed Transaction”). As used herein, Buyer and Seller are each a “Party” and collectively the “Parties.” Notwithstanding anything herein to the contrary, until a definitive agreement is approved by Buyer and signed and delivered by each Buyer and Seller, no Party shall have any legal obligations, expressed or implied, or arising in any other manner under this Term Sheet to continue negotiations or enter into the Proposed Transaction or the PPA. Capitalized terms that are not defined in the Term Sheet will be defined in the PPA.