REC Account definition

REC Account means the account of a Party in the REC Registry as listed in the Proposal or Purchase Order.
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REC Account means an active account with the REC Tracking System.
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Examples of REC Account in a sentence

  • Any Surplus RECs remaining in the Surplus REC Account with respect to such Designated System shall be returned from Buyer to Seller.

  • For avoidance of doubt, in the event of a direct assignment by Seller, Surplus RECs shall remain associated with this Agreement; provided, that if Seller is transferring this Agreement in its entirety (with all remaining Product Orders thereunder), then in such instance the Surplus RECs would also transfer and such assignee would assume such Surplus REC Account with respect to this Agreement.

  • For purpose of calculating the refund, Surplus RECs from the Surplus REC Account shall be reduced and applied to the RECs that are associated with a Drawdown Payment, starting with the REC with the lowest Contract Price, REC for REC.

  • For avoidance of doubt, no payment shall be made for any Surplus RECs that remain in the Surplus REC Account after the refund adjustment is calculated.

  • Upon the conclusion of the annual review process pursuant to Section 4.2(c) above for the last Delivery Year under this Agreement, if (i) there are Surplus RECs remaining in the Surplus REC Account and (ii) a Drawdown Payment calculated under Section 4.2(c)(iv) above has occurred during the Term of this Agreement, then the IPA shall calculate a monetary refund adjustment due to Seller from Buyer.

  • As defined in the ERCOT Protocols, Participant is a (check all that apply): Load Serving Entity (LSE) Qualified Scheduling Entity (QSE) Transmission Service Provider (TSP) Distribution Service Provider (DSP) Congestion Revenue Right (CRR) Account Holder Resource Entity Renewable Energy Credit (REC) Account Holder Independent Market Information System Registered Entity (IMRE) B.

  • Surplus RECs are virtually tracked in the Surplus REC Account and shall remain, except as provided in Section 13.1, in such account until a reduction in such Surplus RECs is recorded by the IPA to meet a Delivery Year Shortfall Amount.

  • For avoidance of doubt, no refund shall be made for any Drawdown Payment calculated pursuant to Section 4.2(d), and no payment shall be made for any Surplus RECs that remain in the Surplus REC Account after the refund adjustment is calculated.

  • Step 3 is done at the end of the Delivery Year to calculate the number of Surplus RECs in the Surplus REC Account for future Delivery Years.

  • If there are Surplus RECs attributable to a Designated System in the Surplus REC Account, such Surplus RECs will be prioritized for payment in the October 10th invoice of the immediately following Delivery Year.