ITC Loss Indemnity definition

ITC Loss Indemnity means, agreements by the Sponsor and/or the related Managing Member to indemnify the related Tax Equity Investor Member for the loss of ITCs to the extent such loss results from certain events specified in the applicable Project Company Documents.

ITC Loss Indemnity means, for a Tax Equity Fund, an indemnity from the Sponsor, Vivint Solar and/or the related Managing Member in favor of the related Tax Equity Investor or Tax Credit Purchaser for the loss of ITCs to the extent such loss results from certain events or breaches of representations, warranties or covenants specified in the applicable Project Documents. “Knowledge” means (a) as to any natural Person, the actual awareness of the fact, event or circumstance at issue, receipt of notification by proper delivery of such fact, event or circumstance, and with respect to any Person that is an officer, director or employee of the Sponsor or an Affiliate thereof, such knowledge that would reasonably be expected to be known by such Person after reasonable inquiry, and the reasonable and diligent exercise of such Person’s duties pursuant to any relevant policy of the Sponsor or an Affiliate and customary or typical solar finance industry practices (with respect to prudent institutional participants) and (b) as to any Person that is not a natural Person, the actual awareness of the fact, event or circumstance at issue by a Responsible

Examples of ITC Loss Indemnity in a sentence

To the extent any proceeds of an ITC Insurance Policy that are paid to a Tax Equity Opco are distributable to a Managing Member, the Borrower shall cause such Managing Member to deposit such amounts into the Revenue Account in an amount equal to the lesser of (x) the amount of any ITC Loss Indemnity paid to the related Tax Equity Investor as a result of a Limited Step-Up Event and (y) the amount of such proceeds, and otherwise distribute any remaining amounts to or at the direction of the Borrower.

ITC Loss Indemnity means an indemnity from the Sponsor and/or the related Managing Member in favor of the Tax Equity Investor Member for the loss of ITCs to the extent such loss results from certain events specified in the applicable Project Company Documents.

Indemnity means the payment of an amount to offset all or part of an insured loss.
Buyer Indemnified Party has the meaning set forth in Section 8.2.
Seller Indemnified Party has the meaning set forth in Section 7.2.
Funding Indemnity Letter means a funding indemnity letter, substantially in the form of Exhibit N.
Buyer Indemnified Parties has the meaning set forth in Section 8.2.
Seller Indemnified Parties has the meaning set forth in Section 8.1.
Servicer Indemnified Party As defined in Section 8.05(c) of this Agreement.