Maximum Annual Quantity definition

Maximum Annual Quantity means the maximum number of LRECs or ZRECs that Buyer is obligated to purchase in any Contract Year under this Agreement.

Maximum Annual Quantity means the maximum number of ZRECs that Buyer is obligated to purchase in any Contract Year under this Agreement.

Maximum Annual Quantity means, for each Contract Year, 110% of the Annual Contract Quantity.

Examples of Maximum Annual Quantity in a sentence

• If the Facility produces LRECs or ZRECs in excess of the Maximum Annual Quantity, Buyer at its sole discretion may offer to purchase, but is under no obligation to offer to purchase, such excess up to the total of such excess LRECs or ZRECs at the Purchase Price and Seller may accept such offer but is under no obligation to sell such excess to Buyer.

• During the first fourteen (14) years of the Delivery Term, Seller may elect to transfer LRECs or ZRECs produced by the Facility in excess of the Maximum Annual Quantity to Buyer for billing and payment in the subsequent Contract Year at the Purchase Price.

• In no event shall Buyer be required to purchase LRECs or ZRECs in excess of the Maximum Annual Quantity during any Contract Year.

• However, those 10 LRECs would be applied against Seller’s Maximum Annual Quantity of 100 LRECs for Contract Year 2, leaving only ninety (90) additional LRECs to be purchased by Buyer during Contract Year 2.

• For avoidance of confusion, the following example is provided: If a developer with a Maximum Annual Quantity of 100 LRECs produces 110 LRECs in Contract Year 1 and such Seller elected and properly notified Buyer of its intent to transfer the excess 10 LRECs to Buyer for payment in Contract Year 2, Buyer would pay for 100 LRECs in Contract Year 1, in accordance with the normal invoicing cycle, and pay for the extra 10 LRECs in Contract Year 2.

More Definitions of Maximum Annual Quantity

Maximum Annual Quantity is added to the Agreement as Section 1.38.1:

Maximum Annual Quantity means the maximum quantity of Contract Coal, in GJ, which Eskom is entitled to Take Off and which the Supplier required to Deliver during each Year, being 105% (one hundred and five percent) of the Annual Quantity;

Maximum Annual Quantity means the maximum annual quantity of gas and electricity to be consumed by The Client, as specified in an Order Form.

Maximum Annual Quantity means a quantity of RECs as indicated in the Confirmation which represents the maximum amount of RECs of that Product that the Buyer will provide payment for in any given Delivery Year. This value may be amended downwards under certain conditions, but can never be increased. The following definition of “Maximum Contract Quantity” is added to the Agreement as Section 1.38.2:

Maximum Annual Quantity means the maximum number of Wafers as specified below that Supplier can be obliged to supply to Xxxxxxx Solar in any given year.

Maximum Annual Quantity or "MAQ" means that quantity of Gas specified in Part A in respect of each Meter Point, which shall not be exceeded in any Contract Year;

Maximum Annual Quantity means a quantity of RECs as indicated in the Confirmation which represents the maximum amount of RECs of that Product that the Buyer will provide payment for in any given Delivery Year. This value may be amended downwards under certain conditions, but can never be increased. The following definition of “Maximum Contract Quantity” is added to the Agreement as Section 1.38.2: “Maximum Contract Quantity” means a quantity of RECs as indicated in the Confirmation which represents the maximum amount of RECs of that Product that the Buyer will provide payment over the term of the Agreement. This value may be amended downwards under certain conditions, but can never be increased. The following is added as Section 1.40.1: “Nameplate Capacity” means: the aggregate inverter nameplate capacity in kilowatts AC, or if the DG Renewable Energy Facility has no inverter, then the aggregate rated generator output in kilowatts AC. The definition of “Potentially Non-Defaulting Party” in Section 1.48 is amended by replacing the phrase “failure of performance by the Potentially Non-Defaulting Party” in the second line of the section with “failure of performance by the Potentially Defaulting Party”. The definition of “Renewable Energy Source” in Section 1.56 is amended to read, in its entirety, as follows: “Renewable Energy Source” means any one or more of the following energy sources: wind, solar thermal energy, photovoltaic cells and panels, biodiesel, crops and untreated and unadulterated organic waste biomass, tree waste, and hydropower that does not involve new construction or significant expansion of hydropower dams. The following definition of “Size Class” is added to the Agreement as Section 1.61.1: “Size Class” means the Nameplate Capacity (AC rating) of a DG Renewable Energy Facility, which shall be classified as “Small” if such capacity is less than 25 kW, and as “Large” if such capacity is between 25 kW and 2,000 kW. An individual DG Renewable Energy Facility may not exceed a nameplate capacity of 2,000 kW. The following definition of “Subsequent System” is added to the Agreement as Section 1.62.1: “Subsequent System” means a DG Renewable Energy Facility that is identified pursuant to an award based on a Forecast REC Quantity and as to which an IPA System Confirmation Notice has been issued as contemplated by Section 2.10(b)(ii). The following definition of “Type of Product” is added to the Agreement as Section 1.68.1: “Type of Product” means Standard RECs originating...