Common use of Delivery Term Clause in Contracts

Delivery Term. As used herein, “Delivery Term” shall mean the period of Contract Years specified on the Cover Sheet, beginning on the first date that Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) and continuing until the end of the tenth, fifteenth, or twentieth Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (i) that Commercial Operation has occurred; (ii) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iii) Seller shall have obtained the requisite CEC Certification and Verification for the Project; (iv) all of the applicable Conditions Precedent in Section 2.5(a) have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Date, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (vii) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type at such time as the conditions in subsections (i) through (vi) of this Section 3.1(c) are satisfied.[Subsection (vii) applicable to solar, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, no later than five (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10) days prior to the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of such Notice of Additional Extension within ten (10) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of the Additional Extension, then Seller may be subject to an Event of Default. As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date.

Appears in 8 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

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Delivery Term. As used herein, “Delivery Term” shall mean the period of Contract Years specified indicated on the Cover Sheet, beginning on the first date that Seller delivers Product to Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) in connection with this Agreement and continuing until the end of the tenth, fifteenth, fifteenth or twentieth Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (i) that the Commercial Operation Date has occurred; (ii) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iii) Seller shall have obtained the requisite CEC Certification and Verification for the Project; (iv) all of the applicable Conditions Precedent in Section 2.5(a2.4(a) of the Agreement have been satisfied or waived in writing; , (v) for resources that are already under a contract as of the Execution Date, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (vii) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type such status is available at such time as the conditions in subsections (i) through (viiv) of this Section 3.1(c) are satisfied.[Subsection (vii) applicable to solarsatisfied; provided that, windfor an Existing Project, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date by shall occur no earlier than thirty (30) days before the Expected Initial Energy Delivery Date. If subsection (v) is applicable, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, shall obtain such certification no later than five one hundred twenty (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10120) days prior to following the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of such Notice of Additional Extension within ten (10) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of the Additional Extension, then Seller may be subject to an Event of DefaultCommercial Operation Date. As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date. Eighteen (18) months prior to the anticipated conclusion of the Delivery Term, the Parties shall provide notice of their intentions with respect to the Project, including if desired, any proposed extension of this Agreement.

Appears in 4 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Delivery Term. The Parties shall specify and agree to the period of Product delivery for the “Delivery Term,” as defined herein, by checking one of the following boxes:  Delivery shall be for a period of ten (10) Contract Years.  Delivery shall be for a period of fifteen (15) Contract Years.  Delivery shall be for a period of twenty (20) Contract Years.  Non-standard Delivery shall be for a period of ____ Contract Years. [Short Term Offers: Seller to indicate non-standard Delivery Term and insert number of Contract Years or fraction thereof in the case of a new ERR] As used herein, “Delivery Term” shall mean the period of Contract Years specified on the Cover Sheet, above beginning on the first date that Seller delivers Product to Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) in connection with this Agreement and continuing until the end of the tenth, fifteenth, or twentieth [insert term to correspond to term checked above] Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (iA) that the Commercial Operation Date has occurred; (iiB) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iiiC) Seller shall have obtained the requisite CEC Certification and Verification for the Project; [and] (ivD) all of the applicable Conditions Precedent in Section 2.5(a) of the Agreement have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Date[, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (viiE) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type such status is available at such time as the conditions in subsections (iA) through (viD) of this Section 3.1(c) are satisfied.[Subsection (vii) applicable to solarsatisfied, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date unless directed by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, no later than five (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10) days prior to the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejectionXxxxx, in its sole discretion, of to not participate in such Notice of Additional Extension within ten program. If subsection (10E) is applicable, Seller shall obtain such certification no later than one hundred twenty (120) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of following the Additional Extension, then Seller may be subject to an Event of Default. Commercial Operation Date.] As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date.. [Subsection (E) applicable to Solar, Wind, or Hydro Projects only]

Appears in 1 contract

Samples: Power Purchase Agreement

Delivery Term. As used herein, “Delivery Term” The Seller shall mean the period of Contract Years specified on the Cover Sheet, beginning on the first date that Buyer accepts delivery of deliver the Product from the Project in connection with Facility to Buyer for a period of (check one)  ten (10),  fifteen (15), or  twenty (20) Contract Years (“Delivery Term”), which shall commence on the Commercial Operation Date under this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) and continuing continue until the end of the tenth, fifteenth, or twentieth last Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Commercial Operation Date shall occur as soon as practicable once only when all of the following conditions have been satisfied: (i) that Commercial Operation has occurred; (ii) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, Facility’s status as applicable; (iii) Seller shall have obtained the requisite CEC Certification and Verification for the Project; (iv) all of the applicable Conditions Precedent in Section 2.5(a) have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Date, that existing contract must have expired an Eligible Renewable Energy Resource is demonstrated by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as receipt of the Delivery Term; and (vii) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice pre-certification from the CAISO that CEC; if required pursuant to Section 4.8, the Project is certified Facility’s status as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the ProjectQualifying Facility is demonstrated by Seller’s technology type at such time as the conditions in subsections (i) through (vi) of this Section 3.1(c) are satisfied.[Subsection (vii) applicable to solar, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice receipt of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, no later than five (5) Business Days prior docket number assigned to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10) days prior to the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of such Notice of Additional Extension within ten (10) days of receipt of Seller’s Notice filing of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of the Additional Extension, then Seller may be subject to an Event of Default. As FERC Form 556; as evidence of the Initial Energy Delivery Commercial Operation Date, the Parties shall execute and exchange the “Initial Energy Delivery Commercial Operation Date Confirmation Letter” attached hereto as Appendix II on B; Seller has provided to Buyer the Initial Energy Delivery DateCollateral Requirement specified in Section 13; Seller has satisfied all of the CAISO agreement, interconnection agreement, and metering requirements in Sections 6.1 and 6.2 and has enabled Buyer to schedule the Facility with the CAISO; Seller has furnished to Buyer all insurance documents required under Section 10; Seller has delivered to Buyer the first report required under Section 6.12.4; Seller has satisfied all of the telemetry requirements required to be satisfied by the Commercial Operation Date under Section 6.10 and Appendix F; the Demonstrated Contract Capacity has been determined in accordance with Appendix M; Seller has provided sixty (60) days Notice prior to the Commercial Operation Date as required under Section 2.8.1; Seller has delivered to Buyer the report required under Section 6.16, if any; and Seller has delivered to Buyer any currently operative filings at FERC, including any rulings, orders or other pleadings or papers filed by FERC, concerning the qualification of the Facility as a Qualifying Facility.

Appears in 1 contract

Samples: Consent and Agreement

Delivery Term. The Parties shall specify and agree to the period of Product delivery for the “Delivery Term,” as defined herein, by checking one of the following boxes:  Delivery shall be for a period of ten (10) Contract Years.  Delivery shall be for a period of fifteen (15) Contract Years.  Delivery shall be for a period of twenty (20) Contract Years.  Non-standard Delivery shall be for a period of ____ Contract Years. [Short Term Offers: Seller to indicate non-standard Delivery Term and insert number of Contract Years or fraction thereof in the case of a new ERR] As used herein, “Delivery Term” shall mean the period of Contract Years specified on the Cover Sheet, above beginning on the first date that Seller delivers Product to Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) in connection with this Agreement and continuing until the end of the tenth, fifteenth, or twentieth [insert term to correspond to term checked above] Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (iA) that the Commercial Operation Date has occurred; (iiB) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iiiC) Seller shall have obtained the requisite CEC Certification and Verification for the Project; [and] (ivD) all of the applicable Conditions Precedent in Section 2.5(a) of the Agreement have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Datewriting [, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (viiE) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type such status is available at such time as the conditions in subsections (iA) through (viD) of this Section 3.1(c) are satisfied.[Subsection satisfied. If subsection (viiE) applicable to solaris applicable, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, shall obtain such certification no later than five one hundred twenty (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10120) days prior to following the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of such Notice of Additional Extension within ten (10) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of the Additional Extension, then Seller may be subject to an Event of Default. Commercial Operation Date.] As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date.. [Subsection (E) applicable to Solar, Wind, or Hydro Projects only]

Appears in 1 contract

Samples: Power Purchase Agreement

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Delivery Term. The Parties shall specify and agree to the period of Product delivery for the “Delivery Term,” as defined herein, by checking one of the following boxes:  Delivery shall be for a period of ten (10) Contract Years.  Delivery shall be for a period of fifteen (15) Contract Years.  Delivery shall be for a period of twenty (20) Contract Years.  Non-standard Delivery shall be for a period of ____ Contract Years. [Short Term Offers: Seller to indicate non-standard Delivery Term and insert number of Contract Years or fraction thereof in the case of a new ERR] As used herein, “Delivery Term” shall mean the period of Contract Years specified on the Cover Sheet, above beginning on the first date that Seller delivers Product to Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) in connection with this Agreement and continuing until the end of the tenth, fifteenth, or twentieth [insert term to correspond to term checked above] Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (iA) that the Commercial Operation Date has occurred; (iiB) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iiiC) Seller shall have obtained the requisite CEC Certification and Verification for the Project; [and] (ivD) all of the applicable Conditions Precedent in Section 2.5(a) of the Agreement have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Date[, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (viiE) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type such status is available at such time as the conditions in subsections (iA) through (viD) of this Section 3.1(c) are satisfied.[Subsection (vii) applicable to solarsatisfied, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date unless directed by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, no later than five (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10) days prior to the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of to not participate in such Notice of Additional Extension within ten program. If subsection (10E) is applicable, Seller shall obtain such certification no later than one hundred twenty (120) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of following the Additional Extension, then Seller may be subject to an Event of Default. Commercial Operation Date.] As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date.. [Subsection (E) applicable to Solar, Wind, or Hydro Projects only]

Appears in 1 contract

Samples: Power Purchase Agreement

Delivery Term. As used herein, “Delivery Term” shall mean the period of Contract Years specified on the Cover Sheet, beginning on the first date that Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) and continuing until the end of the tenth, fifteenth, or twentieth Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (i) that Commercial Operation has occurred; (ii) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iii) Seller shall have obtained the requisite CEC Certification and Verification for the Project; (iv) all of the applicable Conditions Precedent in Section 2.5(a) have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Date, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (vii) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type at such time as the conditions in subsections (i) through (vi) of this Section 3.1(c) are satisfied.[Subsection (vii) applicable to solar, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, no later than five (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10) days prior to the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of such Notice of Additional Extension within ten (10) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of BuyerXxxxx’s rejection of the Additional Extension, then Seller may be subject to an Event of Default. As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date.

Appears in 1 contract

Samples: Power Purchase Agreement

Delivery Term. The Parties shall specify and agree to the period of Product delivery for the “Delivery Term,” as defined herein, by checking one of the following boxes:  Delivery shall be for a period of ten (10) Contract Years.  Delivery shall be for a period of fifteen (15) Contract Years.  Delivery shall be for a period of twenty (20) Contract Years.  Non-standard Delivery shall be for a period of ____ Contract Years. [Short Term Offers: Seller to indicate non-standard Delivery Term and insert number of Contract Years or fraction thereof above and to revise bracketed text to correspond]] As used herein, “Delivery Term” shall mean the period of [__ months of a ______] Contract Years Year[s] specified on the Cover Sheet, above beginning on the first date that Seller delivers Product to Buyer accepts delivery of the Product from the Project in connection with this Agreement following Seller’s demonstration of satisfaction of the items listed below in this Section 3.1(c) (“Initial Energy Delivery Date”) in connection with this Agreement and continuing until the end of the tenth, fifteenth, or twentieth [insert term to correspond to term checked and described above] Contract Year (as applicable, based on the Cover Sheet election) unless terminated as provided by the terms of this Agreement; provided that the Expected Initial Energy Delivery Date may be extended as provided in this Section 3.1(c). The Initial Energy Delivery Date shall occur as soon as practicable once all of the following have been satisfied: (iA) that the Commercial Operation Date has occurred; (iiB) Buyer shall have received and accepted the Delivery Term Security in accordance with the relevant provisions of Article Eight of the Agreement, as applicable; (iiiC) Seller shall have obtained the requisite CEC Certification and Verification for the Project; [and] (ivD) all of the applicable Conditions Precedent in Section 2.5(a2.4(a) of the Agreement have been satisfied or waived in writing; (v) for resources that are already under a contract as of the Execution Datewriting [, that existing contract must have expired by its own terms before the Initial Energy Delivery Date; (vi) Seller shall have demonstrated satisfaction of Seller’s other obligations in this Agreement that commence prior to or as of the Delivery Term; and (viiE) unless Seller has been directed by Buyer to not participate in the Participating Intermittent Resource Program, Buyer shall have received written notice from the CAISO that the Project is certified as a Participating Intermittent Resource to the extent the Participating Intermittent Resource Program exists for the Project’s technology type such status is available at such time as the conditions in subsections (iA) through (viD) of this Section 3.1(c) are satisfied.[Subsection satisfied. If subsection (viiE) applicable to solaris applicable, wind, or hydro Projects only] In the event that Seller cannot satisfy the requirements for Initial Energy Delivery Date by the Expected Initial Energy Delivery Date, as set forth in this Section 3.1(c), then Seller may provide Buyer with a one-time Notice of a thirty (30) day extension of the Test Period and Expected Initial Energy Delivery Date (“Initial Extension”) along with a written explanation of the basis for the extension, shall obtain such certification no later than five one hundred twenty (5) Business Days prior to the Expected Initial Energy Delivery Date as set forth above and extended as provided in this Section 3.1(c). In the event that Seller requires an additional extension of the Test Period and Expected Initial Energy Delivery Date beyond the Initial Extension, Seller may request a further extension of the Test Period and Expected Initial Energy Delivery Date from Buyer no later than ten (10120) days prior to following the expiration of the Initial Extension of up to sixty (60) days by providing Notice to Buyer along with a detailed written explanation of the basis for such request (“Additional Extension”). Buyer shall provide Seller with Notice of Buyer’s acceptance or rejection, in its sole discretion, of such Notice of Additional Extension within ten (10) days of receipt of Seller’s Notice of Additional Extension. If Buyer fails to provide a Notice of Buyer’s acceptance or rejection, then Seller’s Notice of Additional Extension shall be deemed accepted. If Buyer provides Seller with Notice of Buyer’s rejection of the Additional Extension, then Seller may be subject to an Event of Default. Commercial Operation Date.] As evidence of the Initial Energy Delivery Date, the Parties shall execute and exchange the “Initial Energy Delivery Date Confirmation Letter” attached hereto as Appendix II on the Initial Energy Delivery Date.. [Subsection (E) applicable to California wind Projects only]

Appears in 1 contract

Samples: Consent and Agreement

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