Forecast REC Quantity Clause Samples

Forecast REC Quantity. This Paragraph is only applicable to Systems that are or will be below 25 kW and to a Seller that receives an award for a Forecast REC Quantity, and specifies in the System Identification Form (Exhibit B) a non-zero Remaining Forecast Quantity. Such Seller agrees and warrants as follows: 3.2.1. Any System that will be identified under the term of this Agreement must be identified no later than the Guaranteed System Identification Date provided in Part 2 of the System Identification Form (Exhibit B) or any extension approved by the Buyer at its sole discretion. Seller may request an extension of up to three months for demonstrated project delays outside of Seller’s reasonable project development control; that extension will be granted at Buyer’s sole discretion. 3.2.2. Once a System is identified under the term of this Agreement: • Seller shall notify the Buyer by providing an amended Part 2 of Exhibit B. • Seller and ▇▇▇▇▇ will execute an Additional Agreement as prepared by Buyer with terms identical to the terms of this Agreement and with the System described in the System Identification Form (Part 1 of Exhibit B), which shall specify a Maximum Contract Quantity. • Performance Assurance under this Agreement will be reduced by $16 times the number of RECs in the Maximum Contract Quantity of the Additional Agreement. Performance Assurance under the Additional Agreement will be $8 times the number of RECs in the Maximum Contract Quantity of the Additional Agreement. The resulting reduction in the aggregate amount of Performance Assurance across this Agreement and the Additional Agreement shall be returned in accordance with Section 9.2. • Seller shall have twelve (12) months from the Effective Date of the Additional Agreement for a particular System to be completely Installed, Energized and registered with PJM-EIS GATS or M-RETS 3.2.3. The Maximum Contract Quantity for a system that is identified hereunder cannot exceed the Remaining Forecast Quantity. 3.2.4. Any remaining Performance Assurance as indicated in Part 2 of the System Identification Form (Exhibit B) under this Agreement on the Guaranteed System Identification Date or any extension approved by the Buyer at its sole discretion shall be forfeited. However, the Seller may request a refund of the remaining Performance Assurance up to an amount of $480, which is an amount associated with up to thirty (30) RECs.