Designated System Contract Maximum REC Quantity definition

Designated System Contract Maximum REC Quantity means, with respect to a Designated System, the maximum number of RECs eligible for payment and for which payment can be made under this Agreement, which shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 20 years, which result shall be rounded down to the nearest whole REC.
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Designated System Contract Maximum REC Quantity means, with respect to a Designated System, the number of RECs expected to be Delivered under this Agreement as of the date of Energization, which may be amended subsequently thereto, and shall be equal to the sum of the Delivery Year Expected REC Quantity across Delivery Years.” The following is added as Section 1.22.7:
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Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere or amended or adjusted pursuant to Section 4.2(f), with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be equal to the sum of (a) the multiplicative product of (i) Contract Nameplate Capacity (in MW) at Energization,
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Examples of Designated System Contract Maximum REC Quantity in a sentence

  • For avoidance of doubt, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity and the Delivery Year Expected REC Quantities shall be adjusted pursuant to Section 3.6(a)(i)(a) or Section 3.6(a)(i)(c), and the updated Schedule B and REC Delivery schedule will be issued by the IPA to Buyer and Seller pursuant to Section 3.6(a)(i)(g).

  • For avoidance of doubt, the sum of the Delivery Year Expected REC Quantity across fifteen (15) years may differ from the Designated System Contract Maximum REC Quantity.

  • If payments have been made to Seller with respect to the Designated System, Seller shall return the amount of payment based on the applicable Contract Price and on the difference between the number of RECs used to calculate payment and the number of RECs Delivered from such Designated System (not to exceed the Designated System Contract Maximum REC Quantity).


More Definitions of Designated System Contract Maximum REC Quantity

Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere or amended or adjusted pursuant to Section 4.2(f), with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be equal to the sum of (a) the multiplicative product of (i) Contract Nameplate Capacity (in MW) at Energization, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year (or 4/12 as applicable), which result shall be rounded down to the nearest whole REC and (b) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the first Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year, which result shall be rounded down to the nearest whole REC and (c) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the second Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year, which result shall be rounded down to the nearest whole REC and (d) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the third Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 3/12 year, which result shall be rounded down to the nearest whole REC, and (e) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the fourth Community Solar Quarterly Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 14 years (or 167/12 as applicable), which result shall be rounded down to the nearest whole REC.3 For avoidance of doubt, for calculating the Designated System Contract Maximum REC Quantity that prevails at any point in time between Energization and the period covered in the fourth Community Solar Quarterly Report, the Contract Nameplate Capacity (in MW) used for a future period that has not yet occurred shall assume the last known value that is observed. Notwithstanding the calculation set for...
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Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto, shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be with respect to the period from Energization through the period covered in the Community Solar First Year Report, equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC; and with respect to the period subsequent to the period covered in the Community Solar First Year Report, equal to the sum of (a) the multiplicative product of (i) Contract Nameplate Capacity (in MW) at Energization, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 1 year (or 13/12 as applicable) and (b) the multiplicative product of (i) Contract Nameplate Capacity (in MW) for the period covered in the Community Solar First Year Report, (ii) Contract Capacity Factor, (iii) 8,760 hours, (iv) 14 years (or 167/12 as applicable), which result shall be rounded down to the nearest whole REC.1
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Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a
Sample 1
Designated System Contract Maximum REC Quantity means, with respect to a Designated System that is a Distributed Renewable Energy Generation Device, the number of RECs for which payment shall be based as of the date of Energization, which unless amended or adjusted subsequently thereto, pursuant to Section 4.2(f), shall be equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor, (c) 8,760 hours and (d) 15 years, which result shall be rounded down to the nearest whole REC. Unless provided elsewhere, with respect to a Designated System that is a Community Renewable Energy Generation Project, the Designated System Contract Maximum REC Quantity shall be (unless amended or adjusted pursuant to Section 4.2(f)): with respect to the period from Energization through the period covered in the Community Solar First Year Report, equal to the multiplicative product of (a) Contract Nameplate Capacity (in MW), (b) Contract Capacity Factor,
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Related to Designated System Contract Maximum REC Quantity

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Designated System means an electric generation unit that produces electric energy using a Renewable Energy Source that is selected by the IPA through the ABP and approved by the ICC for inclusion in this Agreement as of the Trade Date of a Product Order. All Designated Systems under this Agreement shall either be a Distributed Renewable Energy Generation Device or a Community Renewable Energy Generation Project.

  • Cost of work , in table above, shall mean the agreement amount of the work.

  • Eligible customer-generator means a customer-generator whose net energy metering system for renewable resources, cogeneration, fuel cells, and microturbines meets all applicable safety and performance standards.