Energy Storage Component Adjustments. (i) Should the Energy Storage Component fail to achieve Commercial Operation on or before the Commercial Operation Milestone Date, or should the Energy Storage Component fail to receive Operational Certification, NYSERDA may, upon notice to Seller, reduce the Index REC Strike Price by the Energy Storage Component Price Reduction Amount as stated in Schedule 1 of this Agreement until such time as the Seller provides NYSERDA with written notice that the Energy Storage Component has achieved Commercial Operation and NYSERDA has granted Operational Certification. NYSERDA shall thereafter restore the Index REC Strike Price to the full amount set forth on Schedule 1 beginning on the first day of the first full month that follows NYSERDA’s receipt of such notice.
Appears in 4 contracts
Samples: Form Agreement, Form Agreement, Form Agreement
