Unit Contingent means that Seller is excused from any failure to Deliver Product quantity on account of failure of a specified Renewable Energy Facility to generate the amount of RECs necessary in the Vintage or other time period indicated. In such event, Seller shall not be liable to Buyer for any damages, including any amounts determined pursuant to Article 5.
Unit Contingent means that the Products are to be supplied only from the Facility and only to the extent that the Facility is generating Energy.
Unit Contingent means that Seller is obligated to deliver Products only to the extent that the Facility operates and generates Products.
Examples of Unit Contingent in a sentence
Unit Contingent (only check if applicable) Generation Contingent (only check if applicable) The parties agree to the Transaction set forth herein.
A seller with a 20MW unit entering into two 10MW Unit Contingent transactions runs the risk of breaching both contracts by making both sales Unit Contingent, since both buyers could claim a first entitlement to generation from the unit.
More Definitions of Unit Contingent
Unit Contingent or “Unit Contingency” means that Seller’s failure to deliver the Products intended to be supplied from the Facility is excused to the extent that the Facility is unavailable to produce and deliver one or more Products due to (a) Permitted Planned Maintenance, (b) Force Majeure, (c) an Outage, (d) a Reliability Curtailment or (e) any other event or circumstance (including solar irradiance and other climatic conditions, but excluding economic considerations) that affects the Facility so as to prevent Seller from performing its obligations hereunder, provided, that, such event or circumstance is not a result of a Specified Seller Fault Event. The foregoing shall not be construed to eliminate, limit, or otherwise restrict Buyer’s rights or remedies provided in this Agreement in the event of the occurrence of a Unit Contingency (including any liquidated damages applicable in the event of a Unit Contingency pursuant to Section 4.3(b) and Section 6.1 and the other requirements of Section 4.3(b) and Section 6.1 in respect of the shortfalls described therein). For the avoidance of doubt, the non-dispatch or reduction in the dispatch of the Facility by MISO or other applicable Transmission Provider or interruption or curtailment of electric transmission or other limitation on Products by MISO or other applicable Transmission Provider, in each case, made in response to offers, bids, plans or schedules submitted to MISO or other applicable Transmission Provider (or otherwise on the basis of price signals) shall not constitute a Unit Contingency under any circumstance.
Unit Contingent means that the LRECs or ZRECs are intended to be supplied from the Facility and Seller’s failure to deliver is excused to the extent the Facility will not be available to produce and Deliver the purchased LRECs or ZRECs.
Unit Contingent means that the NEPOOL-GIS Certificate Quantity shall be a fixed amount, or a variable amount equal to a specified percentage of NEPOOL-GIS Certificates, produced by a Generating Unit within a specified period, as specified in the applicable Confirmation.
Unit Contingent means that the ZRECs are intended to be supplied from the Facility and Seller’s failure to deliver is excused to the extent the Facility will not be available to produce and Deliver the purchased ZRECs.
Unit Contingent means that the RECs are intended to be supplied from the Facility and Customer’s failure to deliver is excused to the extent the Facility will not be available to produce and Deliver the purchased RECs.
Unit Contingent means that the Products are to be supplied only from the Facility and only to the extent that the Facility is in operation.
Unit Contingent means the Products are to be supplied exclusively from the Facility as such Products are actually produced by the Facility.