Initial Solar Assets definition

Initial Solar Assets means a portfolio of Host Customer Solar Assets and TRECs owned by the Issuer or the Project Companies and identified on the Schedule of Solar Assets on the Closing Date.

Initial Solar Assets means the Host Customer Solar Assets and Hedged SREC Solar Assets identified on the Schedule of Solar Assets acquired by the Issuer on the Closing Date.

Initial Solar Assets means the Host Customer Solar Assets and Hedged SREC Solar Assets, in each case, identified on the Schedule of Solar Assets conveyed to the Issuer or owned by the Financing Funds on the Initial Closing Date (to the extent the membership interests of the Managing Member of such Financing Fund were contributed to the Issuer on the Initial Closing Date).

Examples of Initial Solar Assets in a sentence

• Other than with respect to New Construction Solar Assets (Non-Identified Customer), (i) the Host Customer is not a debtor in a bankruptcy case as of the Original Closing Date (in the case of the Initial Solar Assets) or the related Transfer Date (in the case of Additional Solar Assets), and (ii) the Host Customer has not commenced any litigation or asserted any claim in writing challenging the validity or enforceability of the related Solar Service Agreement.

• Copies of all Hedged SREC Agreements with respect to Hedged SREC Payments have been delivered to the Verification Agent as of the Original Closing Date (as to the Initial Solar Assets) or the related Transfer Date (as to any Additional Solar Asset).

• Copies of all PBI Documents and the Performance Based Incentive Agreement, if any, for PBI Payments have been delivered to the Verification Agent as of the Original Closing Date (as to the Initial Solar Assets) or the related Transfer Date (as to any Additional Solar Asset).

• To the extent the rights to receive PBI Payments and the related Performance Based Incentive Agreement, if any, are not freely assignable without the consent of the related PBI Obligor, or if consent or notice to any Person is required for the grant of a security interest, such consent will have been obtained or notice will have been given as of the Original Closing Date (as to the Initial Solar Assets) or the related Transfer Date (as to any Additional Solar Asset).

• If the Contractor is a subrecipient of federal awards as defined by Office of Management and Budget (OMB) 2 Code of Federal Regulations (C.F.R.) § 200, the Contractor shall maintain records that identify all federal funds received and expended.

• Solar Service Agreements comprising no more than 0.25% of the Aggregate Discounted Solar Asset Balance as of the Original Closing Date (with respect to the Initial Solar Assets) and as of the most recent Transfer Date (as to all Eligible Solar Assets then owned by a Financing Fund or SAP) are (or in the case of a New Construction Solar Asset (Non-Identified Customer), will be) related to Host Customers that are Persons who are employees of the Parent, the Borrower or any of their respective Affiliates.

• Original Closing Date (as to the Initial Solar Assets) or the related Transfer Date (as to any Additional Solar Asset).

• To the extent the rights to receive PBI Payments and the related Performance Based Incentive Agreement, if any, are not freely assignable without the consent of the related PBI Obligor, or if consent or notice to any Person is required for the grant of a security interest, such consent will have been obtained or notice will have been given as of the Original Closing Date (as to the Initial Solar Assets) or Schedule I-6 the related Transfer Date (as to any Additional Solar Asset).