PTC Termination Date definition
PTC Termination Date has the meaning set forth in Section 5.7.
Examples of PTC Termination Date in a sentence
In consideration for any such termination or reduction in size after the PTC Termination Date, Seller shall pay Buyer a pro rata portion of the Termination Fee commensurate with the percentage of the Project Capacity not being installed (such amount being Buyer’s sole remedy for such termination by Seller).
In addition, the PTC termination/exclusion right described above shall cease to be effective with respect to any Unit that has not previously been placed in service for federal income tax purposes if, prior to the PTC Termination Date, the PTC is extended to cover the full expected construction period of the Project, to the extent not later revoked or modified as described above.