RESOURCE ADEQUACY WITH DISPATCABLE ENERGYResource Adequacy With Dispatcable Energy • May 27th, 2022 • California
This term sheet (“Term Sheet”) is entered into as of _____, 2022 (the “Effective Date”) between City of San José, a California municipality, doing business as San José Clean Energy (“SJCE”)] and [Respondent Name] (“Respondent”) in connection with the San José Clean Energy Request for Offers (“RFO”). This Term Sheet is intended to set forth the key commercial terms and conditions to be included in a proposed power purchase agreement or confirmation pursuant to the WSPP or EEI Master Agreements (the “Agreement”) between Seller and Buyer for the purchase and sale of the Product (the “Proposed Transaction”). Negotiation of the Agreement is subject to Buyer selecting the Proposed Transaction for the negotiation shortlist, the terms and conditions of the RFO,. Until a definitive Agreement is approved by Respondent’s management, SJCE management and the San José City Council, as applicable, and signed and delivered by each Party, no party shall have any legal obligations, expressed or implied,
