Designated System Contract Maximum REC Quantity definition

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 unless 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.” The following is added as Section 1.22.9:
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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,
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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, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year (or 4/12 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) for the period covered in the first Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year, which result shall be rounded down to the nearest whole REC and (c) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the second Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year, which result shall be rounded down to the nearest whole REC and (d) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the third Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year, which result shall be rounded down to the nearest whole REC, and (e) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the fourth Community Solar Quarterly 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.3 For avoidance of doubt, for calculating the Designated System Contract Maximum REC Quantity that prevails at any point in time between Energization and the period covered in the fourth Community Solar Quarterly Report, the Contract Nameplate Capacity (in MW) used for a future period that has not yet occurred shall assume the last known value that is observed. Notwithstanding the calculation set for...
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Examples of Designated System Contract Maximum REC Quantity in a sentence

  • For avoidance of doubt, the sum of the Delivery Year Expected REC Quantity across twenty (20) years may not match the Designated System Contract Maximum REC Quantity.

  • The Maximum Allowable Payment is the multiplicative product of (a) the Designated System Contract Maximum REC Quantity and (b) the Contract Price.

  • Further, if payments, including any Advance of Capital, 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 example, if the Designated System Contract Maximum REC Quantity is 28,417 and the Contract Price is $50, the Maximum Allowable Payment of $1,420,850 is obtained by multiplying (a) 28,417 RECs and (b) $50/REC.

  • With respect to the Delivery Term of a Designated System, the quantity of RECs from such Designated System that are eligible for payment is capped at the Designated System Contract Maximum REC Quantity.

  • The amount of the Stranded Customer REC Adder True-Up Adjustment shall be equal to the multiplicative product of (i) Stranded Customer REC Adder and (ii) number of RECs associated with prior payments, which shall be no greater than the Designated System Contract Maximum 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:
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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.
Sample 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, with respect to a
Sample 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, 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,
Sample 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, 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
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Related to Designated System Contract Maximum REC Quantity

  • Contract Quantity means the quantity of Delivered Energy expected to be delivered by Seller during each Contract Year as set forth in the Cover Sheet.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Designated System means an electric generation unit that produces electric energy using a Renewable Energy Source that is selected by the IPA through the ABP and approved by the ICC for inclusion in this Agreement as of the Trade Date of a Product Order. All Designated Systems under this Agreement shall either be a Distributed Renewable Energy Generation Device or a Community Renewable Energy Generation Project.

  • Service Switching Point (SSP) means the telephone Central Office Switch equipped with a Signaling System 7 (SS7) interface.