CREZ definition

CREZ means the Competitive Renewable Energy Zones electric transmission project overseen by ERCOT and the Public Utility Commission of Texas.

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CREZ means Competitive Renewable Energy Zones as further detailed under the “Renewable Power in the U.S.” section. “Desert Meadow Wind Farm” means a 23 MW wind farm located in Elmore County, Idaho, U.S.;

CREZ means Competitive Renewable Energy Zones as further detailed under the “Renewable Power in the U.S.” section.

Examples of CREZ in a sentence

• In connection with the surrender of the CREZ Assets, Lessor shall pay to Lessee the aggregate purchase price for any Footprint Projects, equipment or other property purchased by Lessor in accordance with Section 2.3 or Section 10.5(b).

• Upon the written request by Lessor, Lessee shall provide Lessor with evidence of the payment of any such Lessee Taxes, the failure of which to be paid would cause the imposition of a Lien upon the CREZ Assets or any component thereof or interest therein.

• Except in the case of emergency, prior to Lessor’s access of the CREZ Assets, Lessor will provide written notification to Lessee’s operations personnel.

• Lessor shall conduct its activities in respect of the CREZ Assets in compliance in all material respects with applicable Environmental Laws.

• Each Party shall as promptly as reasonably practicable furnish or cause to be furnished to the other Party, upon request from such Party, such information as may be required to enable such Party to file any reports required to be filed with any governmental or Regulatory Authority due to such Party’s ownership interest in or operation and control of the CREZ Assets, as applicable.

• If Lessee becomes aware of any actions, claims or other legal or administrative proceedings that are pending, threatened or anticipated with respect to, or which could materially and adversely affect, the CREZ Assets, Lessee shall promptly deliver notice thereof to Lessor.

• If Lessor becomes aware of any actions, claims or other legal or administrative proceedings that are pending, threatened or anticipated with respect to, or which could materially and adversely affect, the CREZ Assets, Lessor shall promptly deliver notice thereof to Lessee.

• Thereafter, this Agreement may be renewed for subsequent terms (each, a “Renewal Term” and, collectively with the Initial Term, the “Term”) by mutual agreement of the Parties; provided, however, that the Rent for any Renewal Term shall be targeted to provide the Lessor with a Comparable Rate of Return on the then-current Rate Base of the CREZ Assets.

• Lessor shall have the right, in its sole discretion, to challenge any condemnation or taking of the CREZ Assets by proper proceedings, and Lessee shall not institute any such challenge without the prior written consent of Lessor.

• Lessor shall assist and fully cooperate with Lessee, in complying with or obtaining any material land use permits and approvals, building permits, environmental impact reviews or any other approvals reasonably required for the maintenance or operation of the CREZ Assets, including execution of applications for such approvals, and including participating in any appeals or regulatory proceedings respecting the CREZ Assets at Lessee’s cost and expense, if requested by Lessee.

More Definitions of CREZ

CREZ means Competitive Renewable Energy Zones as further detailed under the “Renewable Power in the U.S.” section. “Development Projects” has the meaning attributed thereto under “Description of the Business and Assets of the Corporation - Portfolio of Assets”;