Examples of Vintage Period in a sentence
The Parties acknowledge that the Agreement allows for the Delivery of RECs from an Acceptable Vintage Period of a maximum total period of 241 months (excluding any Suspension Periods during which the Parties’ obligations are suspended as provided herein).
Seller shall, on a monthly basis, provide to Buyer and the IPA (i) hourly MWh generation data applicable to the Project and (ii) hourly real time locational marginal prices at the applicable hub indicated in the Product Order (either PJM-NIHUB or MISO-IL) for each calendar month of the Acceptable Vintage Period within five (5) Business Days after the conclusion of such Vintage month.
Buyer and Seller shall work together to remove the Standing Order within ten (10) Business Days after the last Delivery of RECs has occurred for the Acceptable Vintage Period.
The Standing Order shall be for the automatic recurring transfer of all RECs associated with a Vintage within the Acceptable Vintage Period.
Payment shall be made only for RECs that have been Delivered by Seller to Buyer of Vintages that are in the Acceptable Vintage Period.
Seller shall provide written request to Buyer for the revocation of the Standing Order no earlier than thirty (30) days prior to the end of the Acceptable Vintage Period (or as soon as practicable in the case of an early termination of this Agreement) and Buyer shall revoke the Standing Order within thirty (30) days of receipt of such request.
No payment shall be due for any REC(s) that are associated with the generation of electricity that occurred outside the Acceptable Vintage Period (such RECs, “Ineligible RECs”).
For example, if the Latest Vintage Month is May 2042, then the Delivery Term shall end on August 31, 2042 so as to accommodate the Delivery of RECs associated with the last month of the Acceptable Vintage Period.
Unless set forth herein, Buyer is not responsible for, and is under no obligation to return, any inadvertent transfer of RECs, including but not limited to, the Delivery of RECs that is outside of the Acceptable Vintage Period.
For avoidance of doubt, and notwithstanding the foregoing, only RECs associated with electricity generation that occurred within the Acceptable Vintage Period shall be eligible for payment in accordance with Section2.1(c).