Examples of Community Solar Subscription Mix in a sentence
Such Community Solar Quarterly Report shall indicate the percent of Actual Nameplate Capacity that has been Subscribed and the Community Solar Subscription Mix.
Failure to maintain the minimum Community Solar Subscription Mix of fifty percent (50%) and the percent of Actual Nameplate Capacity that has been Subscribed as provided in the fourth (4th) Community Solar Quarterly Report submitted pursuant to Section 6.2 in a Delivery Year shall result in payment to Buyer from Seller of a monetary amount, determined by the IPA, and Buyer may draw on Seller’s Performance Assurance for this purpose.
For each Delivery Year after the issuance of the fourth (4th) Community Solar Quarterly Report submitted pursuant to Section 6.2, then, using the REC Annual Report submitted under Section 6.3 and at the same time as the calculations made under Section 4.2(c):16 the Subscription percentage and Community Solar Subscription Mix will each be calculated by the IPA as a daily average, then averaged over the Delivery Year.
In the event that the Community Solar Subscription Mix calculated for the fourth full Quarterly Period after Energization for a Designated System is less than fifty percent (50%), that Designated System shall be subject to Section 2.6(a)(i)(c).
If the Designated System regains a Community Solar Subscription Mix and Subscription percentage at or above their contracted amount in subsequent years, a drawdown under this Section 4.2(d) will not occur in those years; however, overperformance in a Delivery Year will not be banked or applied to past Delivery Years.
The amount of the draw on Seller’s Performance Assurance will be calculated as the difference between (a) the contracted payment for that Delivery Year and (b) the amount that would have been paid given the realized Community Solar Subscription Mix and the percent of Actual Nameplate Capacity that has been Subscribed in that Delivery Year, if (a) exceeds (b).
If (A) Seller fails to submit such an addendum to the fourth (4th) Community Solar Quarterly Report or (B) the Community Solar Subscription Mix remains less than fifty percent (50%) for the additional Quarterly Period or extended cure period reported in the addendum to the fourth (4th) Community Solar Quarterly Report, then the Designated System shall be removed from this Agreement.