PBI Payments definition

PBI Payments means, with respect to a PV System and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents, including New Jersey TRECs and MA SMART Revenue; provided, that PBI Payments do not include Rebates, Hedged SRECs, amounts received, if any, in respect of Hedged SRECs, Service Incentives, Grid Services Revenue or ITC Transfer Proceeds.

PBI Payments means, with respect to a Project and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents.

PBI Payments means, with respect to a PV System and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents; provided that PBI Payments do not include Rebates, Hedged SRECs or SRECs or amounts received, if any, in respect of SRECs or Hedged SRECs.

Examples of PBI Payments in a sentence

• 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.

• The Borrower shall have provided the Administrative Agent an updated Schedule IV, an updated Schedule V, an updated Schedule VI and, an updated Schedule VII and an updated Advance Model to reflect the Scheduled Hedged SREC Payments, Scheduled Host Customer Payments, Scheduled PBI Payments and Scheduled Managing Member Distributions as of such Funding Date.

• Schedule VI Scheduled PBI Payments [On file with the Administrative Agent] 118556040.20118095118.53 Schedule VI-1 [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.

• Upon the filing of all appropriate financing statements in the proper filing offices in the appropriate jurisdictions, the Administrative Agent will have a first priority perfected security interest in and to the Solar Service Agreements, the rights to PBI Payments and the PV Systems, subject to Permitted Liens and in each case related solely to the SAP Solar Assets.

• The related Solar Service Agreement and rights to PBI Payments constitute (or in the case of a New Construction Solar Asset (Non-Identified Customer), will constitute) 118556040.20118095118.53 Schedule I-7 [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.

More Definitions of PBI Payments

PBI Payments means, with respect to a PV System and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents (including MA SMART Payments); provided that PBI Payments do not include Rebates or SRECs or amounts received, if any, in respect of SRECs (including SREC Proceeds).

PBI Payments means, with respect to a Project and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents in respect of performance based incentive programs of [***], [***] or any other States which have been approved by the Administrative Agent.

PBI Payments means, with respect to a Project located in Connecticut or Colorado and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents

PBI Payments means, with respect to a PV System and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents; provided that PBI Payments do not include Rebates, Hedged SRECs or SRECs or amounts received, if any, in respect of SRECs or Hedged SRECs. [***] = 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 Payments means, with respect to a Solar Panel System and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents.

PBI Payments mean the payments to be made to Borrower by SMUD pursuant to the PBI Agreement.

PBI Payments means all payments due by the related PBI Obligor under or in respect of such PBI Documents. “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”.