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

  • 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 will cooperate and do all things necessary to ensure that all Project SRECs are credited to Lender in a timely manner.

  • 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 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.

  • Borrower shall have a continuing obligation to execute such documents as may be necessary to authorize the SREC Program Administrator to automatically transfer Project SRECs to Lender’s SREC Account.

  • 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.

  • 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.

  • At the closing of the Loan and for the duration of the Term, Borrower shall execute such documents as are necessary to assign to Lender all of the Project SRECs until the Loan is repaid in full and do all things necessary to ensure that all Project SRECs are credited to Lender in a timely manner.

  • 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.

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

Related to Project SRECs

  • Project Water means water made available for delivery to the contractors by project conservation facilities and the transportation facilities included in the System.

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

  • Project Site(s) means the place(s) specified in the SCC for the supply and installation of the System.

  • 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.