Equipment Replacement Reserve Deposit means an amount equal to (i) on or prior to the Anticipated Repayment Date, $[***] and (ii) after the Anticipated Repayment Date, the lesser of (a) the sum of: (1) the product of (A) one-twelfth of $[***] and (B) the aggregate DC nameplate capacity (measured in kW) of all the PV Systems related to the Solar Loans owned by the Issuer (excluding Defaulted Solar Loans in respect of PV Systems related to PV Solar Loans or PV/ESS Solar Loans that are not operational and not in the process of being removed) on the related Determination Date and (2) the product of (A) one-twelfth of $[***] and (B) the aggregate storage capacity (measured in kWh) of the batteries included in Energy Storage Systems related to Solar Loans owned by the Issuer (excluding Defaulted Solar Loans in respect of Energy Storage Systems related to PV/ESS Solar Loans or ESS Solar Loans that are not operational and not in the process of being removed) on the related Determination Date; and (b) (1) the Equipment Replacement Reserve Required Balance as of the related Determination Date, minus (2) the amount on deposit in the Equipment Replacement Reserve Account as of the related Determination Date, provided that the Equipment Replacement Reserve Deposit shall not be less than $[***].
Equipment Replacement Reserve Deposit means, after the Commitment Termination Date, the lesser of (i) the sum of (a) the product of (x) 1/12 of $[***] and (y) the aggregate DC nameplate capacity (measured in kW) of all PV Systems related to Solar Loans which are operational (excluding Transferable Solar Loans) and that have related Solar Loans with remaining terms that exceed the remaining terms of the related manufacturer warranty for the Inverter associated with such PV System plus (b) the product of (x) 1/12 of $[***] and (y) the aggregate storage capacity (measured in kWh) of the batteries included in Energy Storage Systems (including Independent Energy Storage Systems) related to Solar Loans which are operational (excluding Transferable Solar Loans) with remaining terms that exceed the remaining terms of the related manufacturer warranty for such Energy Storage System and (ii) the difference of (a) the Equipment Replacement Reserve Required Balance minus (b) the amount on deposit in the Equipment Replacement Reserve Account; provided, that the Equipment Replacement Reserve Deposit shall not be less than $[***].
Equipment Replacement Reserve Deposit means (i) prior to the Anticipated Repayment Date, $[***] and (ii) on and after the Anticipated Repayment Date, an amount equal to the lesser of (a) the sum of: (i) the product of (A) one-twelfth of $[***] and (B) the aggregate DC nameplate capacity (measured in kW) of all the PV Systems related to the Solar Loans owned by the Borrower (excluding Defaulted Solar Loans in respect of PV Systems related to PV Solar Loans or PV/XXXX Solar Loans that are not operational and not in the process of being removed) on the related Determination Date and (ii) the product of (A) one-twelfth of $[***] and (B) the aggregate storage capacity (measured in kWh) of the batteries included in XXXX Systems related to Solar Loans owned by the Borrower (excluding Defaulted Solar Loans in respect of XXXX Systems related to PV/XXXX Solar Loans or XXXX Solar Loans that are not operational and not in the process of being removed) on the related Determination Date; and (b) (1) the Equipment Replacement Reserve Required Balance as of the related Determination Date, minus (2) the amount on deposit in the Equipment Replacement Reserve Account as of the related Determination Date, provided that the Equipment Replacement Reserve Deposit shall not be less than $[***].
Examples of Equipment Replacement Reserve Deposit in a sentence
Amounts on deposit in the Liquidity Reserve Account are at any time less than the Liquidity Reserve Account Required Balance and such deficit is not cured on the earlier of the next Borrowing Date or the next Payment Date or the Borrower fails to deposit the Equipment Replacement Reserve Deposit in the Equipment Replacement Reserve Account in accordance with Section 2.7 as of any Payment Date and such failure is not cured on the earlier of the next Borrowing Date or the next Payment Date.
More Definitions of Equipment Replacement Reserve Deposit
Equipment Replacement Reserve Deposit has the meaning set forth in the Loan Agreement.
Equipment Replacement Reserve Deposit means, after the Commitment Termination Date, the lesser of (i) the sum of (a) the product of (x) 1/12 of $[***] and (y) the aggregate DC nameplate capacity (measured in kW) of all PV Systems related to Solar Loans which are operational (excluding Transferable Solar Loans) and that have related Solar Loans with remaining terms that exceed the remaining terms of the related manufacturer warranty for the Inverter associated with such PV System plus (b) the product of (x) 1/12 of $[***] and (y) the aggregate storage capacity (measured in kWh) of the batteries included in Energy Storage Systems (including Independent Energy Storage Systems) related to Solar Loans which are operational (excluding Transferable Solar Loans) with remaining terms that exceed the remaining terms of the related manufacturer warranty for such Energy Storage System and (ii) the difference of (a) the Equipment Replacement Reserve Required Balance minus (b) the amount on deposit in the Equipment Replacement Reserve Account; provided, that the Equipment Replacement Reserve Deposit shall not be less than $[***]. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause competitive harm to the company if publicly disclosed.
Equipment Replacement Reserve Deposit means an amount equal to the lesser of (1) the sum of: (a) the product of (i) one-twelfth of $9.00 and (ii) the aggregate DC nameplate capacity (measured in kW) of all the PV Systems related to the Solar Loans owned by the Issuer (excluding Defaulted Solar Loans in respect of PV Systems related to PV Solar Loans or PV/ESS Solar Loans that are not operational and not in the process of being removed) on the related Determination Date and (b) the product of (i) one-twelfth of $7.50 and (ii) the aggregate storage capacity (measured in kWh) of the batteries included in Energy Storage Systems related to Solar Loans owned by the Issuer (excluding Defaulted Solar Loans in respect of Energy Storage Systems related to PV/ESS Solar Loans or ESS Solar Loans that are not operational and not in the process of being removed) on the related Determination Date; and (2) (i) the Equipment Replacement Reserve Required Balance as of the related Determination Date, minus (ii) the amount on deposit in the Equipment Replacement Reserve Account as of the related Determination Date, provided that the Equipment Replacement Reserve Deposit shall not be less than $0.
Equipment Replacement Reserve Deposit has, with respect to any Guaranteed Loan, the meaning ascribed to such term in the applicable Loan Agreement.
Equipment Replacement Reserve Deposit means, after the Commitment Termination Date, the lesser of (i) the sum of (a) the product of (x) 1/12 of $[***] and (y) the aggregate DC nameplate capacity (measured in kW) of all PV Systems related to Solar Loans which are operational (excluding Transferable Solar Loans) and that have related Solar Loans with remaining terms that exceed the remaining terms of the related manufacturer warranty for the Inverter associated with such PV System plus (b) the product of (x) 1/12 of $[***] and (y) the aggregate storage capacity (measured in kWh) of the batteries included in Energy Storage Systems [***] = 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. (including Independent Energy Storage Systems) related to Solar Loans which are operational (excluding Transferable Solar Loans) with remaining terms that exceed the remaining terms of the related manufacturer warranty for such Energy Storage System and (ii) the difference of (a) the Equipment Replacement Reserve Required Balance minus (b) the amount on deposit in the Equipment Replacement Reserve Account; provided, that the Equipment Replacement Reserve Deposit shall not be less than $[***].