Defective Solar Asset definition

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) or the Manager, at any time, that AP5, 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 AP5 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 Trustee under the Indenture, which breach has a material adverse effect on the Noteholders, unless such breach has been waived, in writing, by the Indenture Trustee, acting at the direction of the Majority Noteholders.

Examples of Defective Solar Asset in a sentence

• The Borrower shall promptly notify SAP Seller, TEP Resources and the Parent of a breach of Section 4.1(U) and shall require SAP Seller or the Parent to cure such breach or pay the Liquidated Damages Amount for such Defective Solar Asset pursuant to and in accordance with the Sale and Contribution Agreement or the Parent Guaranty, as applicable.

• The Borrower shall promptly notify the Seller (Solar Assets) and SEC of a breach of Section 4.1(U)(ii) and shall require the Seller (Solar Assets) or SEC to (i) cure such breach or (ii) pay the Liquidated Damages Amount for such Defective Solar Asset pursuant to and in accordance with the Sale and Contribution Agreement (Solar Assets) or the Guaranty, as applicable.

• The Depositor 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 Depositor Contribution Agreement or the Performance Guaranty, as applicable.

• The Indenture Trustee will promptly notify the Issuer, the Manager and the Depositor of any demand by a Noteholder (or a beneficial owner thereof) made in writing to a Responsible Officer of the Indenture Trustee that the Depositor pay Liquidated Damages Amounts in respect of a Defective Solar Asset, whether on account of a breach of representation or warranty or otherwise.

• 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.

• The Indenture Trustee will promptly notify the Issuer and the Manager of any demand by a Noteholder (or a beneficial owner thereof) made in writing to a Responsible Officer of the Indenture Trustee that SunStrong Acquisition and the Depositor pay Liquidated Damages Amounts in respect of a Defective Solar Asset, whether on account of a breach of representation or warranty or otherwise.

• Through this project, we have built upon the gathering momentum in favor of knowledge integration for fire and fuels management in the U.S. Using PGIS as an organizational framework and an integrative tool, we have laid foundations for several new research and education collaborations across the Intermountain West.

• The Indenture Trustee will promptly notify the Issuer, the Transaction Manager and the Depositor of any demand by a Noteholder (or a beneficial owner thereof) made in writing to a Responsible Officer of the Indenture Trustee that the Depositor pay the Repurchase Price in respect of a Defective Solar Asset, whether on account of a breach of representation or warranty or otherwise.

• Managing Member and from such Managing Member to the Issuer, who will then cause a distribution in-kind of such Terminated Host Customer Solar Asset, Defaulted Solar Asset or Defective Solar Asset to be made to the Depositor who will cause a distribution in-kind of such Terminated Host Customer Solar Asset, Defaulted Solar Asset or Defective Solar Asset to be made to Sunnova Sol III Holdings.

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 of the Controlling Class) 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 of the Controlling Class.

Defective Solar Asset means, individually or collectively as the context requires, a Defective Host Customer Solar Asset and a Defective Hedged SREC Solar Asset.

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.