Resource Contingent definition
Resource Contingent means the Bidder has a resource contingent obligation to deliver the Contract Quantity of RECs pursuant to an Underlying Agreement.
Resource Contingent means that Seller is obligated to Deliver the Product to the extent that the applicable Renewable Energy Source supports energy production by the applicable Renewable Energy Facility, subject to Force Majeure, curtailment ordered directly or indirectly from the CAISO, and the planned or forced outage of the Renewable Energy Facility (which is not the result of Seller’s negligence or willful misconduct), [Insert the following provision if SDG&E is not purchasing 100% of the output: and further subject to Seller’s obligation to allocate the production among all of its purchasers of Product from the Renewable Energy Facility during the Vintage [as follows: [insert].] If Seller otherwise fails to Deliver the Product, then Seller shall be the non-performing Party as set forth in Section 4,1 of the EEI Agreement and Buyer shall be the performing Party and shall be entitled to receive from Seller an amount determined pursuant to Section 4.1 of the EEI Agreement.
Examples of Resource Contingent in a sentence
The Product is a Resource Contingent Bundled REC sourced from the Generating Facilities.
REC Product (check one) (REC Products are defined in WSPP Service Schedule R, Section R-2.3) Firm REC, Resource Contingent REC, Facility As-Run REC.