Quantity Obligation means, for any period during the Contract Delivery Term, the number of MWh calculated as the Bid Quantity Percentage multiplied by the Actual Eligible Production; subject, however, to adjustments pursuant to Article V (Adjustments).
Quantity Obligation means, for any period during the Contract Delivery Term, the number of Tier-1 RECs equal to the product of (a) the Bid Quantity Percentage multiplied by (b) the Actual Eligible Production; subject, however, to adjustments pursuant to Article V (Adjustments); and provided that the Quantity Obligation in any Contract Year shall not exceed the Annual REC Cap for such Contract Year. In the event of a discrepancy in measurement between the amount of Tier- 1 RECs generated by the Bid Facility for any period and the Actual Eligible Production (in MWh) for that period (for example, due to rounding or meter adjustments), the Quantity Obligation shall be calculated based upon the amount of Tier-1 RECs generated by the Bid Facility for that period rather than the Actual Eligible Production for such period.
Quantity Obligation means, for any period during the Contract Delivery Term, the number of MWh calculated as the Bid Quantity Percentage multiplied by the Actual Eligible Production, or the Bid Quantity multiplied by one hundred and twenty percent, whichever is lower; subject, however, to adjustments pursuant to Article V, Adjustments. RES Standard Agreement: This standard contractual document issued as a part of RESRFP18-1 to be entered into by NYSERDA and selected Sellers, which shall define, among other things, their rights and obligations concerning the Transfer of Tier-1 Renewable Energy Certificates to NYSERDA, and the payments by NYSERDA during the term of the agreement. The RES Standard Agreement includes this document and Exhibit A (Standard Terms and Conditions for all NYSERDA Agreements); B (Letter of Credit Form); C (Prompt Payment Policy Statement) [and
Examples of Quantity Obligation in a sentence
On the terms and subject to the conditions and provisions of this Agreement, Seller agrees to sell, assign, convey, deliver and Transfer to NYSERDA, and NYSERDA agrees to purchase from Seller, all right, title and interest in the Tier-1 RECs associated with the Quantity Obligation generated by the Bid Facility and delivered to the Delivery Point during each month of the Contract Delivery Term.
More Definitions of Quantity Obligation
Quantity Obligation means, for any period during the Contract Delivery Term, the number of MWh calculated as the Bid Quantity Percentage multiplied by the Actual Eligible Production; subject, however, to adjustments pursuant to Article V, Adjustments. RES Standard Agreement: The standard contractual document issued as a part of RESRFP17-1 to be entered into by NYSERDA and selected Sellers, which shall define, among other things, their rights and obligations concerning the Transfer of Tier-1 Renewable Energy Certificates to NYSERDA, and the payments by NYSERDA during the term of the agreement. The RES Standard Agreement includes this document and Exhibit A (Standard Terms and Conditions for all NYSERDA Agreements); B (Letter of Credit Form); C (Prompt Payment Policy Statement) and