PTC Extension definition

PTC Extension has the meaning set forth in Section 11.1(a). [Delete if Section 11.1is inapplicable] [Short Term Offers from Short Term Existing: Seller to delete]
Sample 1
PTC Extension means an amendment, renewal, modification or change to Code Section 45 that (a) is enacted before January 1, 2010, (b) changes the date currently specified in Code Section 45(a)(1) before which a facility using wind to produce electricity must be originally placed in service in order to constitute a “qualified facility” (within the meaning of current Code Sections 45(d)(1) and 45(a)(2)(A)(ii)), from January 1, 2009, to January 1, 2010 or some later date and (c) allows PTCs beginning on the date such wind facility is originally placed in service (rather than the effective date of such amendment, modification or change, if such effective date is later); provided, such amendment, modification or change makes no other changes that would adversely affect (as determined in the reasonable discretion of the Majority of the Class A Members and the Class B Member) the availability or amount of PTCs, such that PTCs will be allowed with respect to a wind facility placed in service after December 31, 2008, and before January 1, 2010, on the same terms (including, for example, the tax credit rate currently specified in Code Section 45(a)(1), the tax credit period currently specified in Code Section 45(a)(2)(A)(ii), and the inflation adjustment currently specified in Code Section 45(b)(2)) as under Code Section 45 as in effect as on the Execution Date (as defined in the Contribution Agreement) for wind turbines placed in service before January 1, 2009.
Sample 1
PTC Extension means an amendment, renewal, modification or change to Code Section 45 that (a) is enacted before January 1, 2010, (b) changes the date specified in Code Section 45(a)(1) (as in effect on the Execution Date) before which a facility using wind to produce electricity must be originally placed in service in order to constitute a “qualified facility” (within the meaning of Code Sections 45(d)(1) and 45(a)(2)(A)(ii) (as in effect on the Execution Date)), from January 1, 2009, to January 1, 2010, or some later date and (c) allows PTCs beginning on the date such wind facility is originally placed in service (rather than the effective date of such amendment, modification or change, if such effective date is later); provided, such amendment, modification or change makes no other changes that would adversely affect (as determined in the reasonable discretion of the Initial Class A Equity Investor and the Class B Equity Investor) the availability or amount of PTCs, such that PTCs will be allowed with respect to a wind facility placed in service after December 31, 2008, and before January 1, 2010, on the same terms (including, for example, the tax credit rate specified in Code Section 45(a)(1) (as in effect on the Execution Date), the tax credit period specified in Code Section 45(a)(2)(A)(ii) (as in effect on the Execution Date), and the inflation adjustment specified in Code Section 45(b)(2) (as in effect on the Execution Date)) as under Code Section 45 (as in effect on the Execution Date) for wind turbines placed in service before January 1, 2009.
Sample 1

Examples of PTC Extension in a sentence

  • If one or more conditions set forth in Section 11.1(d)(i) apply, and if the [PTC Extension][ITC Extension] is not enacted by the [PTC Extension Cutoff Date][ITC Extension Cutoff Date], then Seller may terminate the Agreement by delivering Notice of termination to Buyer within ten (10) Business Days following the [PTC Extension Cutoff Date][ITC Extension Cutoff Date].

  • If Seller fails to deliver Notice of termination by the tenth (10th) Business Day after the [PTC Extension Cutoff Date][ITC Extension Cutoff Date], Seller shall be deemed to have waived its termination right under this Section 11.1(d), and both Parties shall continue to perform under this Agreement without amendment.

Related to PTC Extension

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Line Extension means the provision of facilities (including, but not limited to, poles, fixtures, wires, and appurtenances) necessary for delivering electrical energy from the point of origin to one or more of the customer's points of delivery. Facilities provided by the Company to maintain, protect, upgrade, or improve its overall distribution system (even if necessary due to a customer's load addition) are not considered part of a line extension.

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Service Extension shall have the meaning set forth in Section 7.1(c).

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Notice of Extension has the meaning specified in Section 2.20.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Debt service extension base means an amount equal to that

  • Extension Effective Date has the meaning specified in Section 2.06(c).

  • Request for Extension of Credit means, unless otherwise specified herein, with respect to a Borrowing, Conversion or Continuation of Loans, a written request substantially in the form of Exhibit B or such other form as may be approved by the Administrative Agent and the Borrower (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

  • Grace Period Extension Date means, if:

  • Contract Term Extension means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension. When such extension is made, Forest Service shall make an appraisal using standard Forest Service methods and appraisal data in effect 45 days prior to the original Termination Date. Bid Premium Rates shall be added to such appraised rates to establish Flat Rates or Tentative Rates for the extension period. In event rates so established would develop Current Contract Value immediately prior to such an extension that is less than Current Contract Value at that time, Flat Rates and Tentative Rates in effect immediately prior to extension shall be retained for the extension period. In consideration for granting an extension, Purchaser shall pay the Government for Purchaser’s failure to cut and remove timber meeting Utilization Standards prior to Contract Term Extension, an amount that shall be the total of the costs to the Government resulting from the delay in harvest of Included Timber. Such costs will be determined by Forest Service and shall include, but not be limited to, the following:

  • Extension Term means the time period defined in §2.C.

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Maturity Date Extension Request means a request by the Borrower, in the form of Exhibit G hereto or such other form as shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20.

  • Resolution Extension Period As defined in Section 2.03(b).

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Extension Conditions Defined in Section 3.06(a).

  • Corrective Extension Amendment has the meaning specified in Section 2.16(6).

  • Total Extensions of Credit at any time, the aggregate amount of the Extensions of Credit of the Lenders outstanding at such time.

  • Extension has the meaning specified in Section 2.18(a).