Examples of Monthly Tier 4 REC Price in a sentence
If, for any month, the amount payable to Seller is a negative amount because the Monthly Tier 4 REC Price for that month was negative, NYSERDA shall make no payment to Seller for that month and instead shall record a debit in such amount (“Monthly Debit”).
The Monthly Tier 4 REC Price shall be the Index Tier 4 REC Price, as set forth in Section 4.03 of this Agreement, as may be reduced pursuant to Section 4.11 of this Agreement.
NYSERDA shall have no obligation to pay any invoice submitted more than six (6) months after NYSERDA notifies Seller of the Monthly Tier 4 REC Price for the Tier 4 RECs transferred in the month for which payment is requested.
The Fixed Tier 4 REC Carbon Price Adjustment shall be calculated by NYSERDA no less than annually, based on a 12-month period that NYSERDA may select in its reasonable discretion; provided, however that if NYISO publishes data that readily facilitate monthly calculation, NYSERDA shall calculate the Fixed Tier 4 REC Carbon Price Adjustment each month and apply it to the Monthly Tier 4 REC Price.
Within fifteen (15) days after the conclusion of each month, NYSERDA shall inform Seller of the Monthly Tier 4 REC Price for that month.
The Monthly Tier 4 REC Price shall be the Index Tier 4 REC Price for such month, as set forth in Section 4.02 of this Agreement and as may be reduced pursuant to Section 4.09 of this Agreement.
NYSERDA shall deduct the Fixed Tier 4 REC Carbon Price Adjustment from the Fixed Tier 4 REC Price in order to determine the Monthly Tier 4 REC Price.
City shall pay NYSERDA each month an amount (the “Monthly Obligation Payment”) equal to the product of (x) the Monthly Tier 4 REC Price for such month and (y) the Forecast Quantity for such month.
The price payable by City to NYSERDA for each Tier 4 REC generated in a month and purchased hereunder (the “Monthly Tier 4 REC Price”) shall be an amount equal to the sum of (A) the lesser of (i) the weighted average of the CHPE Monthly Tier 4 REC Price and the CPNY Tier 4 REC Price, and (ii) the CHPE Monthly Tier 4 REC Price; plus (B) an Adder.
Details regarding the calculation of the Monthly Tier 4 REC Price and Monthly Obligation Payment are set forth in Schedule 2.2, which schedule may be updated and revised over the term of this Agreement upon mutual consent of the Parties.