Guaranteed Energized Date definition

Guaranteed Energized Date means the date entered as such in System Identification Form or any extension approved by the Buyer at its sole discretion. This is the latest date the System must be Energized and is generally 12 months from the Bid Date or 12 months from the Effective Date of this Agreement if this Agreement is for a newly identified System pursuant to an award based on a Forecast REC Quantity.
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Guaranteed Energized Date means the date entered as such in the System Identification Form or any extension approved by the Buyer at its sole discretion, which shall be exercised reasonably. This is the latest date the System must be Energized and registered with PJM-EIS GATS or M-RETS, and is generally 12 months from the Bid Date or 12 months from the Effective Date of this Agreement if this Agreement is for a newly identified System pursuant to an award based on a Forecast REC Quantity.
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Guaranteed Energized Date means the date entered as such in System Identification Form or any extension approved by the Buyer at its sole discretion. This is the latest date the System must be Energized and is generally 12 months [too short] from the Bid Date or 12 months from the Effective Date of this Agreement if this Agreement is for a newly identified System pursuant to an award based on a Forecast REC Quantity. [12 months is short notice considering that it can take months to receive an interconnection study and service agreement. This effort is started after a contract is awarded and the service agreement and cost is a prerequisite to project financing. I suggest the cut off date should be by Dec 31st 2016. This is the termination date of the 30 federal investment tax credit for renewables. Beginning in 2017 the ITC reduces to 10%. At this point the cost of solar is expected to rise by 20%.
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Examples of Guaranteed Energized Date in a sentence

  • Forfeiture of the Performance Assurance shall be Buyer’s sole remedy for failure of the System to be completely Installed, Energized, and registered with PJM-EIS GATS or M-RETS by the Guaranteed Energized Date or any extension approved by the Buyer.

  • The System must be completely Installed, Energized and registered with PJM-EIS GATS or M-RETS by the Guaranteed Energized Date as set forth in the System Identification Form or any extension approved by the Buyer at its sole discretion, which shall be exercised reasonably.

  • The Performance Assurance associated with the System under this Agreement will be forfeited should a System not be completely Installed, Energized and registered with PJM-EIS GATS or M-RETS by the Guaranteed Energized Date or any extension approved by the Buyer at its sole discretion, which shall be exercised reasonably.

  • Seller may request a six-month extension of the Guaranteed Energized Date upon demonstration of project delays that do not otherwise jeopardize the successful completion of the System; any such extension will be granted at Buyer’s sole discretion, which shall be exercised reasonably.

  • Should a System not be completely Installed, Energized and registered with PJM-EIS GATS or M-RETS by the Guaranteed Energized Date or any extension approved by the Buyer at its sole discretion, the Performance Assurance associated with the System under this Agreement will be forfeited.

  • In no event shall a claim of Force Majeure or a Force Majeure Event operate to automatically extend the Guaranteed Energized Date set forth in the System Identification Form.

  • Seller may request a six-month extension of the Guaranteed Energized Date upon demonstration of project delays that do not otherwise jeopardize the successful completion of the System; any such extension will be granted at Buyer’s sole discretion.

  • The System must be completely Installed, Energized and registered with PJM-EIS GATS or M-RETS by the Guaranteed Energized Date as set forth in the System Identification Form or any extension approved by the Buyer at its sole discretion.

  • With respect to a Seller default because the System was not Energized and registered with PJM-EIS GATS or M-RETS as of the Guaranteed Energized Date, this Agreement shall terminate immediately, unless, prior to the Guaranteed Energized Date, Seller provides notice to Buyer of the potential Seller default, requests suspension of the termination of the Agreement, and such request has been approved by Buyer.

  • The System must be completely Installed, Energized and registered with PJM-EIS GATS or M-RETS by the Guaranteed Energized Date as set forth in the System Identification Form or any extension approved by the Buyer at its sole discretion., which shall be exercised reasonably.