Production Guaranty definition

Production Guaranty means, with respect to a PV System, an agreement in the form of a production warranty between the Obligor and Sunnova Energy, that specifies a minimum level of solar energy production, as measured in kWh, for a specified time period. A Production Guaranty stipulates the terms and conditions under which the related Obligor could be compensated or receive a production credit if the related PV System does not meet the electricity production minimums.
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Production Guaranty means, with respect to a PV System, an agreement in the form of a production warranty between the Host Customer and Sunnova Energy (or in some cases, between the Host Customer and the owner of the PV System), that specifies a minimum level of solar energy production, as measured in kWh, for a specified time period. A Production Guaranty stipulates the terms and conditions under which the related Host Customer could be compensated or receive a production credit if the related PV System does not meet the electricity production minimums.
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Production Guaranty means, with respect to a PV System, an agreement that specifies a minimum level of solar energy production, as measured in kWh, for a specified time period. Such guarantees stipulate the terms and conditions under which the Host Customer could be compensated if their PV System does not meet the electricity production guarantees.
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Examples of Production Guaranty in a sentence

  • If, at the end of each successive twelve (12) month anniversary of your Subscription Start Date, the Actual Annual kWh is greater than the Guaranteed Annual kWh during such twelve (12) month period, for purposes of this Production Guaranty, YSG will carry over this surplus and may use this surplus to offset a deficit in Actual Annual kWh that may occur in the future.

  • Upon a change to the size of your Subscription, YSG will replace the Production Guaranty attached hereto as Exhibit A, to reflect the change.

  • This Production Guaranty (this “Production Guaranty”) details YSG’s promise to You regarding the energy production of the Solar Garden.

  • This Production Guaranty protects only the Subscriber named in the Agreement.

  • YSG may assign its rights or obligations under this Production Guaranty to a third party without your consent, provided that any assignment of YSG’s obligations under this Production Guaranty shall be to a third party reasonably determined by YSG in its sole discretion to be qualified to perform such obligation.

  • At the commencement of the first anniversary of the Commercial Operation Date and at the commencement of each Contract Year thereafter, the Production Guaranty Cap shall be increased by an amount equal to three percent (3%) of the Production Guaranty Cap in effect for the prior Contract Year.

  • C-1" is the form of a Production Guaranty to be submitted by CONTRACTOR to EGPC at least one (1) day before the date of signature by the Minister of Petroleum of this Agreement, for the sum of [amount redacted], guaranteeing the execution of CONTRACTOR’s minimum financial obligations for the Exploration and Development activities carried out by CONTRACTOR through the Operating Company according to Article IV below, for the first five (5) year period starting from the Effective date.

  • Notwithstanding any provision to the contrary set forth herein, in no event shall the credits provided under this Production Guaranty exceed $ in the aggregate over the Intial Term and Extension Period (the “Guaranty Limit”).

  • Each Respondent was evaluated on the following commercial factors; Production Guaranty (including guarantying the existing system production in Option 2), Lease Adjustment Factors, and Requested Lease changes or additional contract requirements.

  • This Energy Production Guaranty imposes no obligations on Contractor after Final Completion.


More Definitions of Production Guaranty

Production Guaranty means, with respect to a PV System, an agreement in the form of a production warranty between the Host Customer and Sunnova Energy, that specifies a minimum level of solar energy production, as measured in kWh, for a specified time period. A Production Guaranty stipulates the terms and conditions under which the related Host Customer could be compensated or receive a production credit if the related PV System does not meet the electricity production minimums. [***] = 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.
Sample 1
Production Guaranty means, with respect to a PV System, an agreement in the form of a production warranty between the Obligor and Sunnova Energy, that specifies a minimum level of solar energy production, as measured in kWh, for a specified time period. A Production Guaranty stipulates the terms and conditions under which the related Obligor could be compensated or receive a production credit if the related PV System does not meet the electricity production minimums. "Pro Forma Overcollateralization Amount" means, on any Payment Date, an amount equal to the excess, if any, of (i) the Adjusted Aggregate Solar Loan Balance as of the last day of the related Collection Period, over (ii) (a) the Aggregate Outstanding Note Balance on such Payment Date, before taking into account any distributions of principal to the Noteholders on such Payment Date, plus (b) all unreimbursed Note Balance Write-Down Amounts applied to the Notes prior to such Payment Date, minus (c) the amount of principal collected in respect of each Solar Loan during the related Collection Period (including principal in respect of prepayments of Solar Loans and Repurchase Prices or Substitution Shortfall Amounts paid in respect of Defaulted Solar Loans or Defective Solar Loans, if any, and without giving effect to any Merchant Processing Amounts debited from the Lockbox Account during the related Collection Period), minus (d) the outstanding principal balance of all Solar Loans that became Defaulted Solar Loans during the related Collection Period and were not substituted for or repurchased by the Depositor.
Sample 1

Related to Production Guaranty

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • Guaranty Agreement means an agreement executed by the Guarantors in substantially the form of Exhibit F-2 unconditionally guarantying on a joint and several basis, payment of the Indebtedness, as the same may be amended, modified or supplemented from time to time.

  • Limited Guaranty With respect to any Series (or Class within such Series), any guarantee of, or insurance policy or other comparable form of credit enhancement with respect to, amounts required to be distributed in respect of such Series (or Class) or payments under all or certain of the Underlying Securities relating to such Series or Class, executed and delivered by a Limited Guarantor in favor of the Trustee, for the benefit of the Certificateholders, as specified in the related Supplement.

  • Performance Guaranty means the Performance Guaranty, dated as of the Closing Date, entered into by Performance Guarantor in favor of Administrative Agent.

  • Loan Guaranty means Article X of this Agreement.

  • Subsidiary Guaranty is defined in Section 9.7(a).