Delivery Year Requirement definition

Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Delivery Term, rounded to the nearest integer; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.” The last sentence of the definition of “Environmental Attribute” in Section 1.27 is replaced in its entirety with the following: “Environmental Attributes do not include production or investment tax credits, other federal, state or local tax benefits, incentives or deductions, or other direct third-party subsidies for generation of electricity by the Project, all of which credits, benefits, incentives, deductions or subsidies are reserved exclusively to Seller.” The following is added as Section 1.29.1:
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Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Delivery Term, rounded to the nearest integer; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
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Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Acceptable Vintage Period, rounded to the nearest integer; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
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Examples of Delivery Year Requirement in a sentence

  • The Delivery Year Requirement for the second Delivery Year will be an amount between the minimum 3,345 RECs and the maximum 3,650 RECs. Buyer will pay Seller for actual RECs delivered up to the maximum Delivery Year Requirement amount, or 3,650 RECs. If Seller fails to deliver the minimum Delivery Year Requirement of 3,345 RECs, the second Delivery Year will be designated a Shortfall Year.

  • The Delivery Year Requirement for the first Delivery Year will be an amount between the minimum 1,520 RECs and the maximum 3,040 RECs. Buyer will pay Seller for actual RECs delivered up to the maximum Delivery Year Requirement amount, or 3,040 RECs. If Seller fails to deliver the minimum Delivery Year Requirement of 1,520 RECs, the Delivery Year will be designated a Shortfall Year.

  • The Delivery Year Requirement for Delivery Year 0 is not applicable if the Earliest Vintage Month is June.

  • In no event shall (i) payment by Buyer with respect to a Delivery Year (except for the last Delivery Year) exceed an amount equal to the product of the Purchase Price and the Delivery Year Requirement for such Delivery Year, plus interest on late payments as required herein, or (ii) payment by Buyer cumulatively exceed an amount equal to the product of the Purchase Price and the Maximum Contract Quantity, plus interest on late payments as required herein.

  • The Reduced Invoice Amount shall not cause the payment to be made to cumulatively exceed an amount equal to the multiplicative product of the Purchase Price and the Delivery Year Requirement for the Delivery Year starting June 1, 2021 through May 31, 2022 less the sum of Deferred Payment Amounts in the invoice submitted and in any prior invoices.

  • For clarity, the allowance of a reduced Delivery Year Requirement as specified in Section 3(e) of the Cover Sheet and as illustrated above shall apply only to the first 365 days of the Delivery Term and will not be extended for any reason such as the inclusion of a leap year within the first 365 days of the Delivery Term.

  • For purposes of calculating the Delivery Year Requirement during the first three hundred sixty-five (365) days of the Delivery Term, the Daily Quantity can be reduced by up to fifty percent (50%) based on the actual amount of RECs Delivered in such three hundred sixty-five (365) day period.

  • For example, only RECs associated with the Vintages of June 2025 through May 2026 can be used to meet the Delivery Year Requirement for the Delivery Year beginning June 1, 2025 through May 31, 2026.

  • Annual Quantity Maximum Contract Quantity Class of Resource Utility-Scale Wind Project Delivery Year Delivery Year Degradation Factor Delivery Year Allocation Factor Delivery Year Requirement (RECs) 3 1 0.05 4 1 0.05 5 1 0.05 6 1 0.05 7 1 0.05 8 1 0.05 10 1 0.05 11 1 0.05 12 1 0.05 13 1 0.05 14 1 0.05 15 1 0.05 19 1 0.05 20 1 0.05 Subsequent Delivery Years 1 0.05 • The Delivery Year Requirement for Delivery Year 0 shall apply if the Earliest Vintage Month is not June.

  • For avoidance of doubt, RECs Delivered to meet a Delivery Year Requirement are accounted based on the Vintage of the RECs and not when the RECs are Delivered.


More Definitions of Delivery Year Requirement

Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.26, Section 1.27, Section 1.28 and Section 1.54. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
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Delivery Year Requirement means with respect to a Project where the Date of First Operation has occurred, the quantity of RECs for a given Delivery Year equal to the multiplicative product of (a) the Delivery Year Allocation Factor and (b) the Maximum Contract Quantity, which shall be pro- rated for the number of days in the Delivery Year that is within the Acceptable Vintage Period; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise. any subsequent Delivery Year beyond what is provided in the Product Order as a result of the Suspension Period, if applicable, shall be calculated consistent with Section 1.26, Section 1.27, Section 1.28 and Section 1.54. Further, the Delivery Year Requirement for the last Delivery Year may be adjusted pursuant to Section 4.1(f) so that RECs delivered under this Agreement may not cumulatively cause the Maximum Contract Quantity to be exceeded.
Sample 1
Delivery Year Requirement means the quantity of RECs for a given Delivery Year equal to the sum of the Daily Quantity for each day in the Delivery Year that is within the Acceptable Vintage Period, rounded to the nearest integer [Commenter 7 Note: Do we want to round down?]; provided that the Delivery Year Requirement for any Delivery Year in which a Suspension Period occurs shall be adjusted based on the amount of Product actually Delivered prior to the start of such Suspension Period, and the Delivery Year Requirement for a Delivery Year that is extended as a result of the Suspension Period shall be correspondingly increased unless the Parties agree otherwise.
Sample 1

Related to Delivery Year Requirement

  • Delivery Year means the Planning Period for which a Capacity Resource is committed pursuant to the auction procedures specified in Tariff, Attachment DD, or pursuant to an FRR Capacity Plan under Reliability Assurance Agreement, Schedule 8.1. Demand Bid:

  • Certification period means the period for which an individual is certified eligible for a program.

  • Minimum data set means the data required by the Australian Government from Community Care service outlets, in the form prescribed by the Australian Government, which data is shared with the Queensland Government;