Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Delivery Term, rounded to the nearest integer; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.” The last sentence of the definition of “Environmental Attribute” in Section 1.27 is replaced in its entirety with the following: “Environmental Attributes do not include production or investment tax credits, other federal, state or local tax benefits, incentives or deductions, or other direct third-party subsidies for generation of electricity by the Project, all of which credits, benefits, incentives, deductions or subsidies are reserved exclusively to Seller.” The following is added as Section 1.29.1:
Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.29, Section 1.30, Section 1.31 and Section 1.68. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Delivery Term, rounded to the nearest integer; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
Examples of Delivery Year Requirement in a sentence
The Delivery Year Requirement for Delivery Year 0 is not applicable if the Earliest Vintage Month is June.
The Delivery Year Requirement for the first Delivery Year will be an amount between the minimum 1,520 RECs and the maximum 3,040 RECs. Buyer will pay Seller for actual RECs delivered up to the maximum Delivery Year Requirement amount, or 3,040 RECs. If Seller fails to deliver the minimum Delivery Year Requirement of 1,520 RECs, the Delivery Year will be designated a Shortfall Year.
The Delivery Year Requirement for the second Delivery Year will be an amount between the minimum 3,345 RECs and the maximum 3,650 RECs. Buyer will pay Seller for actual RECs delivered up to the maximum Delivery Year Requirement amount, or 3,650 RECs. If Seller fails to deliver the minimum Delivery Year Requirement of 3,345 RECs, the second Delivery Year will be designated a Shortfall Year.
In no event shall (i) payment by Buyer with respect to a Delivery Year (except for the last Delivery Year) exceed an amount equal to the product of the Purchase Price and the Delivery Year Requirement for such Delivery Year, plus interest on late payments as required herein, or (ii) payment by Buyer cumulatively exceed an amount equal to the product of the Purchase Price and the Maximum Contract Quantity, plus interest on late payments as required herein.
There should be logs of employees who have attended each session.
More Definitions of Delivery Year Requirement
Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Acceptable Vintage Period, rounded to the nearest integer; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.29, Section 1.30, Section 1.31 and Section 1.65. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity, which shall be pro- rated for the number of days in the Delivery Year that is within the Acceptable Vintage Period; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise. any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.26, Section 1.27, Section 1.28 and Section 1.54. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Acceptable Vintage Period, rounded to the nearest integer [Commenter 7 Note: Do we want to round down?]; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity, which shall be pro-rated for the number of days in the Delivery Year that is within the Acceptable Vintage Period; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.28, Section 1 For example, if the Latest Vintage Month is May 2045, then the Delivery Term shall end on August 31, 2045 so as to accommodate the Delivery of RECs associated with the last month of the Acceptable Vintage Period.
1. 29, Section 1.30 and Section 1.59. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.28, Section 1.29, Section 1.30 and Section 0.000.000.0000. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
1 For example, if the Latest Vintage Month is May 20422045, then the Delivery Term shall end on August 31, 20422045 so as to accommodate the Delivery of RECs associated with the last month of the Acceptable Vintage Period.