Examples of First Operation in a sentence
The Delivery Year Requirement, with respect to a Utility-Scale Solar Project or a Xxxxxxxxxx Project where the Date of First Operation has occurred, shall be 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.
Such documentation and verification must be provided to the IPA within the later of: five (5) Business Days of the Effective Date of this Agreement or within five (5) Business Days of the Date of First Operation of the Project.
Additionally, the Minimum Equity Standard requirement as set forth in this Section 7.4 shall apply only for delivery years for which Construction Activities have been performed up through the Date of First Operation, but the Prevailing Wage Act requirements pursuant to Section 7.2 shall apply for Construction Activities through the Term of this Agreement.
The Parties shall work together to establish an irrevocable Standing Order for the Project for the automatic recurring transfer of RECs to Xxxxx’s account in PJM-EIS GATS or M-RETS: Seller, as transferor of the RECs, shall confirm the Standing Order request within the PJM-EIS GATS or M-RETS within thirty (30) days of: the Project’s Date of First Operation or August 1, 2023, whichever is later.
If Construction Activities have occurred or will occur on or after December 15, 2022, the Minimum Equity Standard shall apply to the Project through the Date of First Operation.
The Delivery Year Requirement, with respect to a Utility-Scale Wind Project where the Date of First Operation has occurred, shall be 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.
For purposes of verification, Buyer and the IPA shall be granted read-only access of information for the Project by Seller within PJM Power Meter system or MISO Market Portal, as applicable, within thirty (30) days of: the Effective Date of this Agreement or the Date of First Operation, whichever is later; such data shall be treated and maintained as confidential and proprietary by the IPA and Buyer.
The Project is a new project such that the Date of First Operation of the Project as recorded by PJM-EIS GATS or M-RETS did not occur on or before June 1, 2017.
Seller represents and warrants to Buyer upon the Date of First Operation and on each Delivery Date through the expiry of the Delivery Term that all governmental and other authorizations, approvals, consents, notices and filings that are required to have been obtained or submitted by it with respect to performing this Agreement have been obtained or submitted and are in full force and effect and all conditions thereof have been complied with.
If the Date of First Operation of the Project as recorded by PJM-EIS GATS or M-RETS occurred prior to December 15, 2022, then the Minimum Equity Standard shall not apply.