Utility Credits definition

Utility Credits means the value in dollars of the Energy Output in any Billing Cycle determined by the Utility with reference to the applicable components of the Value Stack (as defined in the VDER Program Orders, including any successor compensation mechanism) and any other Applicable Law and the applicable Program Tariff, as applied to the Accounts, and set forth on an invoice received by the Purchaser from the Utility for the applicable Billing Cycle.

Utility Credits means the monetary value measured in dollars of the Energy output (in kWh) of the Solar Facility in a Billing Cycle, determined in accordance with the VDER Program Orders (including all applicable components of the Value Stack (as defined in the VDER Program Orders)) and all other Applicable Legal Requirements, and set forth on an invoice received from the LEDC for the applicable Billing Cycle, which invoice shall be conclusive evidence of the Utility Credits absent manifest error or change in Applicable Legal Requirements.

Examples of Utility Credits in a sentence

• Notwithstanding anything to the contrary in this Agreement, Buyer shall (a) have no obligation hereunder to purchase any Utility Credits in excess of the Buyer Percentage, (b) have no liability to Seller or any other Person for any failure by Seller to sell, transfer or allocate the CS Percentage to the CS Buyers, or (c) for any default of any nature by any CS Buyers.

• As between Buyer and Seller, Seller shall have sole title to the Solar Energy Facility and the Energy generated by the Solar Energy Facility, along with any Reserved Environmental Attributes and Renewable Energy Incentives generated or associated with the Solar Energy Facility, or the Energy generated by the Solar Energy Facility, and not included in or made part of the Utility Credits.

• Subject to Applicable Legal Requirements, Buyer shall provide Seller access to Buyer’s Accounts solely for purposes of verifying the Utility Credits that are allocated to Buyer’s Account.

• If Seller has reason to dispute the Utility Credits Buyer received from the LEDC, Buyer shall provide reasonable assistance to Seller in support of such dispute.

• Buyer shall also provide Seller, upon request therefor, with any other information reasonably necessary to permit Seller to verify the Utility Credits allocated to the Buyer’s Accounts.

• The Parties understand and agree that it is an essential purpose of this Agreement that Seller be eligible to allocate Utility Credits to Buyer’s Accounts, and that Buyer be eligible to receive, use and compensate Seller for such allocated Utility Credits, all as set forth herein.

• Seller is responsible for any and all Governmental Charges attributable to the Solar Energy Facility, and is responsible for any and all Governmental Charges attributable to the allocation and sale of Utility Credits to Buyer.

• Among other things, Buyer shall not, and shall not cause or permit any other Person to, modify, cancel or impair the Utility Credit Application and the allocation of Utility Credits to Buyer’s Accounts without the prior written approval of Seller Buyer’s acknowledges and agrees that its obligation to perform under this Agreement is not conditioned upon the financial solvency of the LEDC, nor shall the financial condition of the LEDC be a basis for Buyer to terminate this Agreement.

• For each Billing Cycle, Buyer shall pay Seller the Buyer Percentage of the Utility Credits generated by the Solar Energy Facility for such Billing Cycle, multiplied by ninety percent (90%).

• As between Seller and Buyer, title to and risk of loss of the Utility Credits will pass from Seller to Buyer upon allocation of the Utility Credits to Buyer’s Account(s) by the LEDC, as reflected on the applicable invoice received by Buyer from the LEDC.