Annual REC Cap definition

Annual REC Cap. An amount of RECs equal to the product of the Bid Quantity and one and two-tenths (1.2), rounded down to the nearest whole REC. The Annual REC Cap shall be as stated in Schedule 1 of this Agreement. Seller will retain ownership and all rights to RECs that exceed the Annual REC Cap.
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Annual REC Cap. An amount of Tier-1 RECs equal to the product of (x) the Bid Quantity and
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Annual REC Cap. An amount of RECs equal to the product of the Bid Quantity and one and two-tenths (1.2), rounded down to the nearest whole REC. The Annual REC Cap under this Agreement shall be RECs. Seller will retain ownership and all rights to RECs that exceed the Annual REC Cap. Article 10: Article 10 of the New York State Public Service Law provides for the siting review of new or modified major electric generating facilities in New York State by the Board on Electric Generation Siting and the Environment (Siting Board) in a unified proceeding for the application of numerous state and local permits. See NYS Public Service Law §§ 160, et seq.
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Examples of Annual REC Cap in a sentence

  • The maximum number of Tier-1 Renewable Energy Certificates NYSERDA shall be obligated to purchase under this Agreement shall be equal to the Annual REC Cap multiplied by the Bid Price multiplied by the number of years in the Contract Delivery Term.

  • NYSERDA will not pay for Tier-1 RECs beyond the Annual REC Cap for any Contract Year.

  • NYSERDA shall have no obligation, for any Contract Year, to purchase Tier-2 RECs in excess of the Annual REC Cap.

Related to Annual REC Cap

  • Adjusted Consolidated EBITDA means, for any Computation Period, Consolidated EBITDA for such Computation Period adjusted by giving effect on a pro forma basis to Acquisitions and dispositions completed during such Computation Period.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Annual Balanced Budget means that, in each Funding Year of the term of this Agreement, the total revenues of the HSP are greater than or equal to the total expenses, from all sources, of the HSP;

  • Capitalization Rate means 7.00%.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.