Defaulted Solar Asset means a Solar Asset for which the related Host Customer is more than 120 days past due on any portion of a contractual payment due under the related Solar Service Agreement; provided, however, once such amounts are paid in full by the Host Customer such Solar Asset shall no longer be a “Defaulted Solar Asset”. For the avoidance of doubt, any past due amounts owed by an original Host Customer after reassignment to or execution of a replacement Solar Service Agreement with a new Host Customer shall not cause the Solar Asset to be deemed to be a Defaulted Solar Asset.
Defaulted Solar Asset means (i) in the case of a Host Customer Solar Asset, (A) the related Host Customer is more than 120 days past due on any portion of a contractual payment due under the related Solar Service Agreement and (B) the related Solar Service Agreement has not been brought current or the related PV System has not been removed and/or the related Solar Service Agreement re-assigned (or a replacement Solar Service Agreement executed) within 240 days after the end of such 120 day period; provided that, for the avoidance of doubt, any past due amounts owed by an original Host Customer after reassignment to or execution of a replacement Solar Service Agreement with a new Host Customer shall not cause the Host Customer Solar Asset to be deemed to be a Defaulted Solar Asset; and (ii) in the case of a Hedged SREC Solar Asset, (A) the Hedged SREC Counterparty is more than 60 days past due on any portion of amounts due under such Hedged SREC Solar Asset, (B) the related Hedged SREC Counterparty fails to satisfy the eligibility requirements set forth in such Hedged SREC Solar Asset, or (C) the related Hedged SREC Agreement is terminated for any reason.
Defaulted Solar Asset means (i) in the case of a Host Customer Solar Asset, (A) the related Host Customer is more than 120 days past due on any portion of a contractual payment due under the related Solar Service Agreement and (B) the related Solar Service Agreement has not been brought current or the related PV System and, if applicable, Energy Storage System has not been removed and/or the related Solar Service Agreement re-assigned (or a replacement Solar Service Agreement executed) within 240 days after the end of such 120 day period; provided that, for the avoidance of doubt, any past due amounts owed by an original Host Customer after reassignment to or execution of a replacement Solar Service Agreement with a new Host Customer will not cause the Host Customer Solar Asset to be deemed to be a Defaulted Solar Asset and (ii) in the case of a TREC, (A) the TREC Obligor is more than 60 days past due on any portion of amounts due under such TREC or (B) the related TREC is terminated without payment for any reason.
Examples of Defaulted Solar Asset in a sentence
With respect to Solar Assets other than New Construction Solar Assets (Non-Identified Customer), the related Solar Service Agreement is not a Delinquent Solar Asset or a Defaulted Solar Asset and the related PV System is not a Terminated Solar Asset.
Furthermore, the Host Customer associated with such related Solar Service Agreement is not a Host Customer for any other Solar Service Agreement that was originated, acquired and/or serviced by the Parent or any Affiliate thereof that would meet the definition of either Delinquent Solar Asset or Defaulted Solar Asset.
The related Solar Service Agreement is not a Delinquent Solar Asset or a Defaulted Solar Asset and the related PV System is not a Terminated Solar Asset.
Furthermore, the Host Customer associated with such related Solar Service Agreement is not a Host Customer for any other Solar Service Agreement that was originated, acquired and/or serviced by SEC or any Affiliate thereof that would meet the definition of either Delinquent Solar Asset or Defaulted Solar Asset.
Such Solar Asset is not a Defaulted Solar Asset (or, with respect to the related Transfer Date only, the related Host Customer is not more than [***] past due on any portion of a contractual payment due under the related Customer Agreement), a Cancelled Solar Asset or a Terminated Solar Asset.
More Definitions of Defaulted Solar Asset
Defaulted Solar Asset means, with respect to a Solar Asset, if the related Host Customer is more than [***] past due on any portion of a contractual payment due under the related Customer Agreement.
Defaulted Solar Asset means, with respect to a Solar Asset, if the related Customer (a) is more than 120 days past due on any portion of a contractual payment due under the related Customer Agreement or (b) has exercised a Customer Trigger Right.
Defaulted Solar Asset means (i) in the case of a Host Customer Solar Asset, (A) the related Host Customer is more than 120 days past due on any portion of a contractual payment due under the related Solar Service Agreement and (B) the related Solar Service Agreement has not been brought current or the related PV System and, if applicable, Energy Storage System has not
Defaulted Solar Asset means a Solar Asset for which (i) with respect to a Host Customer Solar Asset, the related Host Customer is more than (x) with respect to any date on or prior to the date that is six (6) months following the Closing Date, one hundred and twenty (120) days past due on any portion of a contractual payment due under the related Customer Agreement and (y) with respect to any date following the first six (6) months following the Closing Date, ninety (90) days, and (ii) with respect to a Hedged SREC Solar Asset, the related Hedged SREC Counterparty is more than one hundred and twenty (120) days past due on any portion of a contractual payment due under the related Hedged SREC Agreement.
Defaulted Solar Asset means [***].
Defaulted Solar Asset means a Solar Asset for which (i) the related Host Customer is more than 120 days past due on any portion of a contractual payment due under the related Customer Agreement and (ii) (A) the related Customer Agreement has not been brought current, the related PV System has not been removed and redeployed and/or the related Customer Agreement has not been reassigned (or a replacement Customer Agreement executed) within 240 days after the end of such 120 day period or (B) the Transaction Manager has determined that such Customer Agreement
Defaulted Solar Asset means a Solar Asset for which (i) the related Host Customer is more than 120 days past due on any portion of a contractual payment due under the related Customer Agreement and (ii) the related Customer Agreement has not been brought current, the related PV System has not been removed and redeployed and/or the related Customer Agreement has not been reassigned (or a replacement Customer Agreement executed) within 240 days after the end of such 120 day period; provided that, for the avoidance of doubt, any past due amounts owed by an original Host Customer after reassignment to or execution of a replacement Customer Agreement with a new Host Customer shall not cause the Solar Asset to be deemed to be a Defaulted Solar Asset.