Project SRECs definition

Project SRECs means any and all SREC associated with, generated by, or created by the System, now or at any time, during the Term of this Agreement.
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Project SRECs means the SRECs created by the Project.
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Examples of Project SRECs in a sentence

  • The Project SRECs delivered to Lender hereunder were created in compliance with all applicable laws and are eligible for use in complying with the RPS.

  • Regardless of whether the Loan is paid in cash or Project SRECs as provided hereunder, without limiting any of Lender’s rights under this Agreement, if the interest component of any periodic payment is not paid on the payment due date indicated on the Loan Amortization Schedule, the unpaid portion of such interest component shall bear interest at the stated rate.

  • Lender will calculate (a) the aggregate value of the Project SRECs and cash (excluding any Annual True-Up or Biennial True-Up payments made that Contract Year) received from Borrower to pay the Loan for the Contract Year (“Actual Payments”), and (b) ninety percent (90%) of the total payments due with respect to the Loan for the Contract Year as indicated in the Loan Amortization Schedule (the “90% Amount”).

  • If Borrower elects to repay the Loan with cash, Lender will continue to accept delivery of the Project SRECs from the SREC Program Administrator into Lender’s SREC Account.

  • Lender shall not be required to pay down the Loan with Project SRECs that are not RPS-eligible.

  • If the value of the Project SRECs exceeds the amount due from Borrower for a period under the Loan Amortization Schedule, Lender will apply such excess amount to the Actual Loan Balance.

  • All amounts due under this Agreement and the Note can be paid in (i) cash or (ii) the value of the Project SRECs. Following each Quarter, Lender will provide an amortization statement to Borrower showing the amount paid by Borrower in cash and Project SRECs, the current balance of the Loan and the expected balance according to the Loan amortization statement (“Quarterly Amortization Statement”).

  • Borrower may sell the Project SRECs delivered to Borrower’s SREC Account in accordance with Section 6(a).

  • Except as provided in Section 2.5(c), the Loan and accrued interest shall be repaid with Project SRECs, which will be valued at the greater of the Floor Price or the Market Price.

  • Borrower shall promptly notify Lender of any change in circumstance which causes the foregoing representation to no longer be true including providing a copy of any notice received from any governmental authority indicating or determining that the Project SRECs are no longer RPS-eligible.

Related to Project SRECs

  • Project site, where applicable, means the place indicated in bidding documents.

  • Project Scope means the description or activity of work to be accomplished on the project.

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Project Completion means completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Xxxxxx Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • The Project Site, where applicable, means the place or places named in the SCC.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Development Project means a project for the development of land within a project area.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Project Area means THE AREA WHERE WORK IS BEING PERFORMED FOR THE CITY OF SUFFOLK, VIRGINIA.

  • Project Implementation Unit and “PIU” means the unit referred to in Section I.A.1 of Schedule 2 to this Agreement.

  • The Project Plan means the document to be developed by the Supplier and approved by the Purchaser, pursuant to GCC Clause 19, based on the requirements of the Contract and the Preliminary Project Plan included in the Supplier’s bid. The “Agreed and Finalized Project Plan” is the version of the Project Plan approved by the Purchaser, in accordance with GCC Clause 19.2. Should the Project Plan conflict with the Contract in any way, the relevant provisions of the Contract, including any amendments, shall prevail.