Defective Solar Asset means a Solar Asset with respect to which it is determined by the Administrative Agent (acting at the written direction of the Majority Lenders, such direction not to be unreasonably withheld, condition or delayed) or the Facility Administrator, at any time, that the Borrower breached as of the Transfer Date for such Solar Asset the representation in Section 4.1(U), unless such breach has been waived, in writing, by the Administrative Agent, acting at the direction of the Majority Lenders.
Defective Solar Asset means a Designated Solar Asset with respect to which it is determined by the Indenture Trustee (acting at the written direction of the Majority Noteholders of the Controlling Class) or the Transaction Manager, at any time, that the Depositor or the Issuer breached one or more of the applicable representations or warranties regarding eligibility of such Solar Asset contained in Schedule I to the Contribution Agreement as of the related Cut-Off Date (or as of the Closing Date or related Transfer Date, as so provided in Schedule I to the Contribution Agreement), which breach has a material adverse effect on the Noteholders and has not been cured within the applicable grace period or waived by the Majority Noteholders of the Controlling Class.
Defective Solar Asset means a Solar Asset with respect to which it is determined by the Indenture Trustee (acting at the written direction of the Majority Noteholders of the Controlling Class) or the Manager, at any time, that Sunnova ABS Holdings, the Depositor or the Issuer breached one or more of the applicable representations or warranties regarding eligibility of such Solar Asset contained in Schedule I to the applicable Contribution Agreement at the time of (i) the assignment by Sunnova ABS Holdings to the Depositor or the Depositor to the Issuer pursuant to the applicable Contribution Agreement or (ii) the Grant by the Issuer to the Indenture [***] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. Trustee under the Indenture, in each case which breach has a material adverse effect on the Noteholders and has not been cured within the applicable grace period or waived, in writing, by the Indenture Trustee, acting at the direction of the Majority Noteholders of the Controlling Class.
Examples of Defective Solar Asset in a sentence
The Original Lessee or the Performance Guarantor, as applicable, shall fail to pay any Liquidated Damages with respect to a Defective Solar Asset when due in accordance with the terms of the Sale and Contribution Agreement or the Performance Guaranty, as applicable.
More Definitions of Defective Solar Asset
Defective Solar Asset has the meaning set forth in the Depositor Contribution Agreement or the Performance Guaranty, as applicable.
Defective Solar Asset has the meaning set forth in the Sale and Contribution Agreement.
Defective Solar Asset means a Designated Solar Asset with respect to which it is determined by the Indenture Trustee (acting at the written direction of the Majority Noteholders) or the Transaction Manager, at any time, that (i) the Depositor breached the representation set forth in Section 6(b) of the Depositor Contribution Agreement with respect to such Designated Solar Asset and (ii) such breach has a material adverse effect on the Noteholders and unless such breach has been cured within the applicable grace period or waived, in writing, by the Indenture Trustee, acting at the direction of the Majority Noteholders.
Defective Solar Asset means a Solar Asset with respect to which it is determined by the Administrative Agent (acting at the written direction of the Majority Lenders, such direction not to be unreasonably withheld, condition or delayed) or the Facility Administrator, at any time, that the Borrower breached as of the Transfer Date for such Solar Asset the representation in Section 4.1(U), unless such breach has been waived, in writing, by the Administrative Agent, acting at the direction of the Majority Lenders. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.
Defective Solar Asset has the meaning set forth in the Depositor Contribution Agreement or the Performance Guaranty, as applicable. “Deployment Percentage” means, with respect to each Tax Equity Fund, the percentage of the Tax Equity Investor’s total tax equity commitment to such Tax Equity Fund that has been funded by the Tax Equity Investor and utilized to purchase Solar Assets. “Depositor” means Xxxxxx Xxxx Depositor 2021, LLC, a Delaware limited liability company. “Depositor Pledge Agreement” means the Pledge and Security Agreement, dated as of the date hereof, by the Depositor in favor of the Collateral Agent. “Depositor Contribution Agreement” means the Contribution Agreement, dated as of the Closing Date, between the Depositor and the Borrower. “Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanction.
Defective Solar Asset has the meaning set forth in the Depositor Contribution Agreement or the Performance Guaranty, as applicable. “Deployment Percentage” means, with respect to each Tax Equity Fund, the percentage of the Tax Equity Investor’s total tax equity commitment to such Tax Equity Fund that has been funded by the Tax Equity Investor and utilized to purchase Solar Assets. “Depositor” means Xxxxxx Xxxx Depositor 2021, LLC, a Delaware limited liability company. “Depositor Pledge Agreement” means the Pledge and Security Agreement, dated as of the date hereof, by the Depositor in favor of the Collateral Agent. “Depositor Contribution Agreement” means the Contribution Agreement, dated as of the Closing Date, between the Depositor and the Borrower. “Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanction.