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.
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Maximum Annual Quantity means the maximum number of ZRECs that Buyer is obligated to purchase in any Contract Year under this Agreement.
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Maximum Annual Quantity means, for each Contract Year, 110% of the Annual Contract Quantity.
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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.

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

  • 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.

  • If the Facility produces LRECs or ZRECs in excess of the Maximum Annual Quantity during a Contract Year, and Buyer does not offer to purchase such LRECs or ZRECs in accordance with Section 7.2 during such Contract Year, Seller may elect to transfer such excess LRECs or ZRECs to Buyer's NEPOOL GIS account, and apply them against production for the subsequent Contract Year, subject to the subsequent Contract Year's Maximum Annual Quantity.

  • 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.


More Definitions of Maximum Annual Quantity

Maximum Annual Quantity is added to the Agreement as Section 1.38.1:
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Maximum Annual Quantity means the maximum annual quantity of gas and electricity to be consumed by The Client, as specified in an Order Form.
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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;
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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:
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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.
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Maximum Annual Quantity means the maximum annual quantity of Gas contracted tobe consumed per Contract Year in respect of each of the Sites, more particularly as set out in the Site Schedule, and may be derived from the Maximum Contract Quantity.
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Maximum Annual Quantity means that quantity of gas specified as such in the Schedule of Quantities in respect of each Site which shall not be exceeded in any Contract Year.
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