Examples of Maximum Contract Quantity in a sentence
Seller may offer to sell any RECs in excess of the Maximum Contract Quantity to persons other than Buyer.
During the Delivery Term, Seller shall sell and Deliver to Buyer, and Buyer shall purchase and accept Delivery of, the quantity of RECs produced by the System, up to, but not in excess of, the Maximum Contract Quantity of RECs indicated on the System Identification Form.
If during the Delivery Term, the System produces RECs in excess of the Maximum Contract Quantity, Buyer at its sole discretion may offer to purchase, but is under no obligation to offer to purchase, such excess up to the total of such excess RECs at the Purchase Price and Seller may accept such offer but is under no obligation to sell such excess to Buyer.
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.
Performance Assurance under the Additional Agreement will be $8 times the number of RECs in the Maximum Contract Quantity of the Additional Agreement.