REC Monthly Price definition

REC Monthly Price means, with respect to a Vintage month, the price for RECs specified in the Price Calculation Notice for such Vintage month as calculated by the IPA and issued to Buyer and Seller. The REC Monthly Price for a Vintage month shall be applicable to all Delivered RECs associated with such Vintage month. The REC Monthly Price for a Vintage month shall be calculated by dividing (a) the sum of all REC Monthly Price Hourly Components in such Vintage month by (b) the Actual Production of the Project for such Vintage month, and rounding to the nearest cent. For avoidance of doubt, the Actual Production in (b) shall be the sum of all hourly MWh actual generation used to calculate the REC Monthly Price Hourly Components associated with such Vintage month as provided by Seller pursuant to Section 6.1. For avoidance of doubt, if the value of Actual Production in a given hour is negative, then such negative value will be deemed to be zero (0) MWh in such hour in accordance with Section 1.97. Further, for purposes of calculating the REC Monthly Price, the calculation shall assume a full Vintage month and using the Index Prices for all hours in such Vintage month and the Actual Production of the Project that occurred in such Vintage month regardless of whether part of the month is in a Suspension Period and regardless of how many or few RECs of such Vintage month are processed for payment.
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REC Monthly Price means, with respect to a Vintage month, the price for RECs specified in the Price Calculation Notice for such Vintage as calculated by the IPA and issued to Buyer and Seller. The REC Monthly Price for a Vintage month shall be applicable to all Delivered RECs associated with such Vintage month. The REC Monthly Price for a Vintage month shall be calculated by dividing (a) the sum of all REC Monthly Price Hourly Components in such Vintage month by (b) the MWh actual generation of the Project for such Vintage month, and rounding to the nearest cent. For avoidance of doubt, the MWh actual generation in (b) shall be the sum of all hourly MWh actual generation used to calculate the REC Monthly Price Hourly Components associated with such Vintage month as provided by Seller pursuant to Section 6.1. Further, for purposes of calculating the REC Monthly Price, the calculation shall assume a full Vintage month and using the Index Prices for all hours in such Vintage month and all MWh actual generation of the Project that occurred in such Vintage month regardless of whether part of the month is in a Suspension Period and regardless of how many or few RECs of such Vintage month are processed for payment.
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REC Monthly Price means, with respect to a Vintage month, the price for RECs specified in the Price Calculation Notice for such Vintage as calculated by the IPA and issued to Buyer and Seller. The REC Monthly Price for a Vintage month shall be applicable to all Delivered RECs associated with such Vintage month. The REC Monthly Price for a Vintage month shall be calculated by dividing (a) the sum of all REC Monthly Price Hourly Components in such Vintage month by (b) the MWh actual generation of the Project for such Vintage month, and rounding to the nearest cent. For avoidance of doubt, the MWh actual generation in (b) shall be the sum of all hourly MWh actual generation used to calculate the REC Monthly Price Hourly Components associated with such Vintage month as provided by Seller pursuant to Section6.1. Further, for purposes of calculating the REC Monthly Price, the calculation shall assume a full Vintage month and using the Index Prices for all hours in such Vintage month and all MWh actual generation of the Project that occurred in such Vintage month regardless of whether part of the month is in a Suspension Period and regardless of how many or few RECs of such Vintage month are processed for payment.
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Examples of REC Monthly Price in a sentence

  • Payment is as follows: The REC Monthly Price shall be the price indicated as such in the Price Calculation Notice issued by the IPA to Buyer and Seller for the applicable Vintage month.

  • Should Buyer retire or fail to return such RECs identified by Seller in its notice, payment shall be made from Buyer to Seller for each such REC where the REC Monthly Price is negative.

  • For avoidance of doubt, Seller shall invoice Buyer regardless of whether the REC Monthly Price is positive or negative.

  • For avoidance of doubt, this payment adjustment shall be due to a change in the REC Monthly Price only and there shall be no changes in the quantity of RECs related to this payment adjustment.

  • Notwithstanding, and subject to the foregoing, Seller may request that Buyer issue an invoice to Seller if the REC Monthly Price is positive for documentary purposes.

  • Payment shall be made from Seller to Buyer if the REC Monthly Price is positive and payment shall be made from Buyer to Seller if the REC Monthly Price is negative.

  • For avoidance of doubt, if the REC Monthly Price is positive, Seller shall not owe any payment to Buyer.

  • In instances in which a Party disputes the REC Monthly Price calculated by the IPA, the Party has from the time the IPA issues the Price Calculation Notice to Buyer and Seller until the end of that month to request review of the pricing calculations.

  • In instances in which a Party disputes the REC Monthly Price calculated by the IPA, the Party has until the end of ten (10) calendar days following issuance of such Price Calculation Notice to Buyer and Seller to request review of the pricing calculations.

  • If Seller uncovers errors related to the hourly MWh generation data for a Vintage Month provided by Seller that exceeds 5% of the aggregate generation data for the Vintage Month, Seller shall notify and submit corrected data to Buyer and the IPA within three (3) months of the original deadline for data submission for such Vintage Month for recalculation of the REC Monthly Price by the IPA.


More Definitions of REC Monthly Price

REC Monthly Price means, with respect to a Vintage month, the price for RECs specified in the Price Calculation Notice for such Vintage month as calculated by the IPA and issued to Buyer and Seller. The REC Monthly Price for a Vintage month shall be applicable to all Delivered RECs associated with such Vintage month. The REC Monthly Price for a Vintage month shall be calculated by dividing (a)
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Related to REC Monthly Price

  • Monthly Period means the period from and including the first day of a calendar month to and including the last day of such calendar month.

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).

  • Monthly Principal is defined in Section 4.1(d).

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Declared Monthly Consumption means the Declared Monthly Consumption set out in the Acceptance Form for Electricity Supply.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Certificate Monthly Principal Distributable Amount means, with respect to any Payment Date, the Certificate Percentage of the Principal Distributable Amount for such Payment Date.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Average monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Monthly Average means the highest allowable average of “daily discharges” over a calendar month, calculated as the sum of all “daily discharges” measured during a calendar month divided by the number of “daily discharges” measured during that month. For Fecal Coliform Bacteria (FCB) or E-Coli, report the monthly average.