Replacement ZRCs definition

Replacement ZRCs has the meaning specified in Section 3.11(a).
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Replacement ZRCs and “Excess ZRCs” in Section 1.1 would become “Replacement Equivalent ZRCs” and “Excess Equivalent ZRCs,” respectively. this Section 3.11(a) by providing ZRCs sourced from resource(s) other than the Facility (“Replacement ZRCs”), Seller may retain any ZRCs awarded for such Planning Year with respect to the Facility up to the amount of Replacement ZRCs so provided to Buyer; provided, further, that, for the avoidance of doubt, if Seller receives any ZRCs so awarded with respect to the Facility in an amount greater than the amount of Replacement ZRCs transferred to Buyer pursuant to this Section 3.11(a) (such excess ZRCs, “Excess ZRCs”), Seller shall immediately notify Buyer and, at Buyer’s option, either (I) transfer to Buyer custody of and title to (or, if not possible, the benefit of, as directed by Buyer) such quantity of Excess ZRCs or an equal amount of ZRCs sourced from resource(s) other than the Facility as soon as reasonably possible, but in no event later than three
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Replacement ZRCs and “Excess ZRCs” in Section 1.1 would become “Replacement Equivalent ZRCs” and “Excess Equivalent ZRCs,” respectively. for such Planning Year if the Delivery Term Commencement Date had occurred (with the Facility achieving Commercial Operation at the Expected Capacity and Storage Expected Capacity) by the deadline for submission of the Facility into the Planning Resource Auction and the Facility was properly submitted into such auction according to Section 4.2, then Seller shall transfer to Buyer custody of and title to (or, if not possible, the benefit of, as directed by Buyer) such quantity of ZRCs no later than ten (10) Days prior to the commencement of the Planning Resource Auction applicable to such Planning Year; provided, however, that, notwithstanding anything to the contrary in Section 4.2, if Seller satisfies its obligation to provide such ZRCs to Buyer pursuant to this Section 3.11(a) by providing ZRCs sourced from resource(s) other than the Facility (“Replacement ZRCs”), Seller may retain any ZRCs awarded after such obligation is satisfied for such Planning Year with respect to the Facility, up to the amount of Replacement ZRCs so provided to Buyer; provided, further, that, for the avoidance of doubt, if Seller receives any ZRCs so awarded with respect to the Facility in an amount greater than the amount of Replacement ZRCs transferred to Buyer pursuant to this Section 3.11(a) (such excess ZRCs, “Excess ZRCs”), Seller shall immediately notify Buyer and, at Buyer’s option, either (I) transfer to Buyer custody of and title to (or, if not possible, the benefit of, as directed by Buyer) such quantity of Excess ZRCs or an equal amount of ZRCs sourced from resource(s) other than the Facility as soon as reasonably possible, but in no event later than three (3) Days after Buyer’s election to receive ZRCs pursuant to this clause (I), or (II) pay or credit Buyer an amount equal to the quantity of Excess ZRCs multiplied by the Auction Clearing Price resulting from the Planning Resource Auction for such Planning Year applicable to a ZRC. Seller shall include the amount of any payment or credit pursuant to clause (II) above on the Monthly Invoice for the later of (A) the month in which Buyer elects to receive payment or credit pursuant to clause (II) above and (B) the month in which such Auction Clearing Price is determined and, if applicable, shall pay such amount to Buyer according to Article XI. [In addition, if Seller provides a ZRC Equivalent describe...
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More Definitions of Replacement ZRCs

Replacement ZRCs and “Excess ZRCs” in Section 1.1 would become “Replacement Equivalent ZRCs” and “Excess Equivalent ZRCs,” respectively. that, for the avoidance of doubt, if Seller receives any ZRCs so awarded with respect to the Facility in an amount greater than the amount of Replacement ZRCs transferred to Buyer pursuant to this Section 3.11(a) (such excess ZRCs, “Excess ZRCs”), Seller shall immediately notify Buyer and, at Buyer’s option, either (I) transfer to Buyer custody of and title to (or, if not possible, the benefit of, as directed by ▇▇▇▇▇) such quantity of Excess ZRCs or an equal amount of ZRCs sourced from resource(s) other than the Facility as soon as reasonably possible, but in no event later than three
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Related to Replacement ZRCs

  • Replacement Card means a renewal or replacement Card issued to you by us;

  • Replacement Facility means 1 of the following:

  • Replacement Energy means Energy purchased by Buyer as replacement for any Delivery Shortfall.

  • Replacement Aircraft means the Aircraft of which a Replacement Airframe is part.

  • Replacement unit means a landfill, surface impoundment, or waste pile unit from which all or substantially all of the waste is removed, and which is subsequently reused to treat, store, or dispose of hazardous waste. Replacement unit does not include a unit from which waste is removed during closure, if the subsequent reuse solely involves the disposal of waste from that unit and other closing units or corrective action areas at the facility, in accordance with a closure or corrective action plan approved by USEPA or the Agency.