Designated System Contract Maximum REC Quantity definition
Designated System Contract Maximum REC Quantity means, with respect to a Designated System, the maximum number of RECs eligible for payment and for which payment can be made under this Agreement, which shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 20 years, which result shall be rounded down to the nearest whole REC.
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere or amended or adjusted pursuant to Section 4.2(f), with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be equal to the sum of (a) the multiplicative product of (i) Contract Nameplate Capacity (in MW) at Energization,
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be (unless amended or adjusted pursuant to Section 4.2(f)): with respect to the period from Energization through the period covered in the fourth (4th) Community Solar Quarterly Report, equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC; and with respect to the period subsequent to the period covered in the fourth (4th) Community Solar Quarterly Report, equal to the sum of (a) the multiplicative product of (i) Contract Nameplate Capacity (in MW) at Energization, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 1 year (or 13/12 as applicable), which result shall be rounded down to the nearest whole REC and (b) the multiplicative product of (i) Contract Nameplate Capacity (in MW) calculated based on information in the Community Solar Quarterly Reports, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 14 years (or 167/12 as applicable), which result shall be rounded down to the nearest whole REC.2 Notwithstanding the calculation set forth in the preceding sentence for the period subsequent to the period covered in the fourth (4th) Community Solar Quarterly Report, if there is no change between the values observed at Energization and the values calculated based on information in the Community Solar Quarterly Reports for the Contract Nameplate Capacity and Contract Capacity Factor, then there shall be no update to the Designated System Contract Maximum REC Quantity.
Examples of Designated System Contract Maximum REC Quantity in a sentence
If payments have been made to Seller with respect to the Designated System, Seller shall return the amount of payment based on the applicable Contract Price and on the difference between the number of RECs used to calculate payment and the number of RECs Delivered from such Designated System (not to exceed the Designated System Contract Maximum REC Quantity).
For avoidance of doubt, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity and the Delivery Year Expected REC Quantities shall be adjusted pursuant to Section 2.6(a) or Section 2.6(c), and the updated Schedule B and REC Delivery schedule will be issued by the IPA to Buyer and Seller pursuant to Section 2.6(g).
If payments have been made in error to Seller with respect to the Designated System, Seller shall return the amount of payment equal to the multiplicative product of (A) the Contract Price and (B) the result obtained by subtracting the number of compliant RECs that have been Delivered from such Designated System (not to exceed the Designated System Contract Maximum REC Quantity) from the Designated System Paid REC Quantity.
More Definitions of Designated System Contract Maximum REC Quantity
Designated System Contract Maximum REC Quantity means, with respect to a Designated System, the number of RECs expected to be Delivered under this Agreement as of the date of Energization, which may be amended subsequently thereto, and shall be equal to the sum of the Delivery Year Expected REC Quantity across Delivery Years.” The following is added as Section 1.22.7:
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be (unless amended or adjusted pursuant to Section 4.2(f)): with respect to the period from Energization through the period covered in the Community Solar First Year Report, equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor,
Designated System Contract Maximum REC Quantity means, with respect to a Designated System, the number of RECs expected to be Delivered under this Agreement as of the date of Energization, which may be amended or adjusted subsequently thereto, and shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Capacity Factor, (c) 8,760 hours and
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto, shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be with respect to the period from Energization through the period covered in the Community Solar First Year Report, equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC; and with respect to the period subsequent to the period covered in the Community Solar First Year Report, equal to the sum of (a) the multiplicative product of (i) Contract Nameplate Capacity (in MW) at Energization, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 1 year (or 13/12 as applicable) and (b) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the Community Solar First Year Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 14 years (or 167/12 as applicable), which result shall be rounded down to the nearest whole REC.1
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere or amended or adjusted pursuant to Section 4.2(f)“Designated System Contract Maximum REC Quantity” means, with respect to a Designated System, the number of RECs expected to be Delivered under this Agreement as of the date of Energization, which may be amended or adjusted subsequently thereto, and shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC.
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto, pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be (unless amended or adjusted pursuant to Section 4.2(f)): with respect to the period from Energization through the period covered in the Community Solar First Year Report, equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor,
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere or amended or adjusted pursuant to Section 4.2(f)“Designated System Contract Maximum REC Quantity” means, with respect to a Designated System, the number of RECs expected to be Delivered under this Agreement as of the date of Energization, which may be amended or adjusted subsequently thereto, and shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC.