PBI Obligor definition

PBI Obligor means a utility or Governmental Authority that maintains or administers a renewable energy program designed to incentivize the installation of PV Systems and use of solar generated electricity that has approved and is obligated to make PBI Payments to the owner of the related PV System.

PBI Obligor means (i) [***], in relation to Projects located in [***], (ii) [***], in relation to Projects located in [***] or (iii) any other Person required to make a PBI Payment under or in respect of the related PBI Document, which meets the Credit Requirements or is otherwise approved by the Administrative Agent and the Required Lenders.

PBI Obligor means a utility or federal, state or local Governmental Authority that maintains or administers (or has appointed an administrator to administrate) a renewable energy program designed to incentivize the installation of PV Systems and use of solar generated electricity that has approved and is obligated to make PBI Payments to the owner of the related PV System.

Examples of PBI Obligor in a sentence

• To the extent that notice is required, upon completion of the assignment of a Performance Based Incentive Agreement to a Financing Fund or SAP, as applicable, the Parent or an affiliate thereof delivered notice to the PBI Obligor indicating that such Financing Fund or SAP, as applicable, is the owner of the related PV System and the payee of the PBI Payment.

• Except with respect to Substantial Stage Solar Assets and Final Stage Solar Assets, all applications, forms and other filings required to be submitted in connection with the procurement of PBI Payments have been properly made in all material respects under applicable law, rules and regulations and the related PBI Obligor has provided a written reservation approval (which may be in the form of electronic mail from the related PBI Obligor) for the payment of PBI Payments.

• To the extent the rights to receive PBI Payments and the related Performance Based Incentive Agreement, if any, are not freely assignable without the consent of the related PBI Obligor, or if consent or notice to any Person is required for the grant of a security interest, such consent will have been obtained or notice will have been given as of the Original Closing Date (as to the Initial Solar Assets) or the related Transfer Date (as to any Additional Solar Asset).

• All applications, forms and other filings required to be submitted in connection with the procurement of PBI Payments have been properly made in all material respects under applicable law, rules and regulations and the related PBI Obligor has provided a written reservation approval (which may be in the form of electronic mail from the related PBI Obligor) for the payment of PBI Payments.

• To the extent the rights to receive PBI Payments and the related Performance Based Incentive Agreement, if any, are not freely assignable without the consent of the related PBI Obligor, or if consent or notice to any Person is required for the grant of a security interest, such consent will have been obtained or notice will have been given as of the Original Closing Date (as to the Initial Solar Assets) or Schedule I-6 the related Transfer Date (as to any Additional Solar Asset).

More Definitions of PBI Obligor

PBI Obligor means a utility or Governmental Authority that maintains or administers a renewable energy program (including the MA SMART Program) designed to incentivize the installation of PV Systems and/or Energy Storage Systems and use of solar generated electricity that has approved and is obligated to make PBI Payments to the owner of the related PV System and/or Energy Storage System.

PBI Obligor means the utility, Governmental Authority or other Person that makes the payments under the applicable PBI Program.

PBI Obligor means Xcel Energy Inc., in relation to Projects located in Colorado, and the Clean Energy Finance and Investment Authority, in relation to Projects located in Connecticut.

PBI Obligor means a utility or Governmental Authority that maintains or administers a renewable energy program designed to incentivize the installation of PV Systems and use of solar generated electricity that has approved and is obligated to make PBI Payments to the owner of the related PV System. [***] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

PBI Obligor means a utility or Governmental Authority that maintains or administers a renewable energy program (including the MA SMART Program) designed to incentivize the installation of PV Systems and/or Energy Storage Systems and use of solar generated electricity that has approved and is obligated to make PBI Payments to the owner of the related PV System and/or Energy Storage System. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause competitive harm to the company if publicly disclosed.

PBI Obligor means (i) [***] in relation to Projects located in [***], (ii) [***], in relation to Projects located in [***] or (iii) any other Person required to make a PBI Payment under or in respect of the related PBI Document, which meets the Credit Requirements or is otherwise approved by the Administrative Agent and the Required Lenders.

PBI Obligor means a utility or federal, state or local Governmental Authority that maintains or administers (or has appointed an administrator to administrate) a renewable energy program designed to incentivize the installation of PV Systems and use of solar generated electricity that has approved and is obligated to make PBI Payments to the owner of the related PV System. “Performance Guarantor” means, in such capacity, the Sponsor. “Performance Guaranty” means the Limited Performance Guaranty, dated as of the Closing Date, by the Performance Guarantor, in favor of the Borrower and the Administrative Agent. “Performing Tax Credit Sale Contract” means any Tax Credit Sale Contract other than a Tax Credit Sale Contract with respect to which the related Tax Credit Purchaser has breached its obligations to purchase ITCs and either (i) such failure has continued for sixty (60) days or (ii) one or more replacement Permitted Tax Credit Sale Contracts are entered into with respect to such ITCs. “Periodic Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.