Examples of Participant Incentive in a sentence
Upon the completion and verification of each Project, the LDC will recalculate the amount of the Participant Incentive based upon the best available information at such time subject, however to the limitation that the recalculated Participant Incentive may not be more than 10% greater than the estimated Participant Incentive in the Application.
A Participant may however submit an Application to amend the scope of a Project prior to the completion of that Project, where such change in Project will result in a greater than 10% increase to the Participant Incentive.
If the Participant is a Social Housing Provider and the Project for which that Advance Incentive was made has not been completed within one year of the date the Application was approved, the Participant will no longer be eligible to receive the Social Housing Adder, and any Advance Incentive previously advanced will be repaid to the LDC or the LDC will be entitled to set‐off such amount from any Participant Incentive that may become payable.
The Participant will maintain, or will cause to be maintained, all of the equipment and improvements implemented through each Project in good working order and will operate and maintain, or will cause to be operated and maintained, such equipment and improvements without any modification for a continuous period of 48 months or until December 31, 2020 whichever is longer (the “Period”) starting on the first day of the month immediately following the month in which the LDC pays the Participant Incentive.
The LDC will, subject to the terms and conditions of this Second Amended and Restated Participant Agreement (the “Agreement”) and the Application, pay to the Participant a Participant Incentive for the implementation of each Project described in the approved Application.