Substantial Stage Solar Asset definition

Substantial Stage Solar Asset means a Host Customer Solar Asset that has not yet been installed and for which (i) with respect to a Retrofit Solar Asset, (a) the Parent or an Affiliate thereof has been issued a “notice to proceed” confirming that the Host Customer has signed a Solar Service Agreement, (b) a Dealer has submitted a final design proposal and (c) such proposal has been approved by the Parent or an Affiliate thereof and (ii) with respect to a New Construction Solar Asset, a Dealer has completed installation of all rough electrical wiring to connect the PV system to the building. For the avoidance of doubt, a Solar Service Agreement does not need to have been signed in order for a New Construction Solar Asset to constitute a Substantial Stage Solar Asset.

Substantial Stage Solar Asset means a Host Customer Solar Asset that has not yet been installed and for which (a) SEC or an Affiliate thereof has been issued a “notice to proceed” confirming that the Host Customer has signed a Solar Service Agreement, (b) a Dealer (Solar Assets) has submitted a final design proposal and (c) such proposal has been approved by SEC or an Affiliate thereof. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.

Substantial Stage Solar Asset means a Host Customer Solar Asset that has not yet been installed and for which (a) SEC or an Affiliate thereof has been issued a “notice to proceed” confirming that the Host Customer has signed a Solar Service Agreement, (b) a Dealer (Solar Assets) has submitted a final design proposal and (c) such proposal has been approved by SEC or an Affiliate thereof.

Examples of Substantial Stage Solar Asset in a sentence

• Except in the case of a Substantial Stage Solar Asset, the Solar Photovoltaic Panels with respect to the related PV System were manufactured by an Approved Vendor at the time of installation.

• Each entry with respect to the Solar Asset set forth on the Schedule of Solar Assets is complete, accurate, true and correct in all material respects and does not omit any necessary information that makes such entry misleading, including (i) if such Solar Asset is a Substantial Stage Solar Asset, the amount disbursed to Dealers (Solar Assets) for services rendered in respect of such Substantial Stage Solar Asset.

• The related PV System is installed (or in the case of a Substantial Stage Solar Asset, will be installed) in Puerto Rico.

• Except in the case of a Substantial Stage Solar Asset, the related PV System was properly delivered to and installed in good repair, without defects and in satisfactory order.

• Except in the case of a Substantial Stage Solar Asset, there are no unpaid fees owed to third parties relating to the origination of the related Solar Service Agreement and installation of the related PV System.

• The related PV System was installed (or in the case of a Substantial Stage Solar Asset, will be installed) on a Single-Family Residential Property, a multi-family home, clubhouse or apartment building in accordance with the applicable Credit and Underwriting Policy; [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.

• With respect to the related PV System (other than if such PV System is related to a Substantial Stage Solar Asset), SEC has obtained and does maintain insurance in amounts and coverage consistent with SEC’s policies.