Discounted Solar Asset Balance means, as of any date of determination, (i) with respect to a Host Customer Solar Asset, an amount equal to the present value of the remaining and unpaid stream of Net Scheduled Payments for such Host Customer Solar Asset on or after such date of determination, based upon discounting such Net Scheduled Payments to such date of determination (except in the case of such date of determination being a Closing Date, to the related Cut-Off Date) at a rate per annum equal to the Discount Rate; and (ii) with respect to a Hedged SREC Solar Asset, an amount equal to the present value of the remaining and unpaid stream of Scheduled Hedged SREC Payments for such Hedged SREC Solar Asset on or after such date of determination (except in the case of such date of determination being a Closing Date, on or after the related Cut-Off Date), based upon discounting such Scheduled Hedged SREC Payments to such date of determination (except in the case of such date of determination being a Closing Date, to the related Cut-Off Date) at a rate per annum equal to the Discount Rate; provided, however, that in the case of any of (i) or (ii), any Non-Advanced Solar Asset, Defective Solar Asset, Defaulted Solar Asset or Terminated Solar Asset, as applicable, will be deemed to have a Discounted Solar Asset Balance equal to zero ($0.00); provided, further, that in the case of a Host Customer Solar Asset which is a Qualified Additional Solar Asset, the Discounted Solar Asset Balance for such Qualified Additional Solar Asset is equal to the present value of the remaining and unpaid stream of Net Scheduled Payments for such Host Customer Solar Asset for the period beginning after such date of determination and ending on the earlier of (A) the last Final Maturity Date and (B) the date of the last Net Scheduled Payment for such Host Customer Solar Asset based upon discounting such Net Scheduled Payments to such date of determination at a rate per annum equal to the Discount Rate.
Discounted Solar Asset Balance means, as of any date of determination (x)(i) with respect to the Managing Member Interests or the SAP Solar Assets (other than a Substantial Stage Solar Asset), the present value of the remaining and unpaid stream of Net Cash Flow on or after such date of determination, based upon discounting such Net Cash Flow to such date of determination at an annual rate equal to the Discount Rate, (ii) with respect to a Hedged SREC Solar Asset, the present value of the remaining and unpaid stream of Scheduled Hedged SREC Payments for such Hedged SREC Solar Asset on or after such date of determination, based upon discounting such Scheduled Hedged SREC Payments to such date of determination at an annual rate equal to the Discount Rate and (iii) with respect to a Substantial Stage Solar Asset, the amount actually disbursed to Dealers for services rendered in respect of such Solar Asset; provided, however, that in the case of either clause (i) or clause (ii), any Transferable Solar Asset will be deemed to have a Discounted Solar Asset Balance equal to zero ($0); provided, further that any New Construction Solar Asset that (a) is transferred to a Financing Fund during a Placed in Service Failure Period and (b) is either a Substantial Stage Solar Asset or a Final Stage Solar Asset will be deemed to have a Discounted Solar Asset Balance equal to zero ($0) during the continuation of such Placed in Service Failure Period, and (y) for purposes of determining the Default Level respect to a Host Customer Solar Asset, the present value of the remaining and unpaid stream of Net Scheduled Payments for such Host Customer Solar Asset for the period beginning on such date of determination and ending on the date of the last Net Scheduled Payment for such Host Customer Solar Asset shall be based upon discounting such Net Scheduled Payments to such date of determination at an annual rate equal to the Discount Rate.
Discounted Solar Asset Balance or “DSAB” means for each Subject Fund, an amount equal to the net present value of Net Cash Flow calculated using a discount rate equal to the Discount Rate.
Examples of Discounted Solar Asset Balance in a sentence
Solar Service Agreements comprising no more than [***]% of the Aggregate Discounted Solar Asset Balance as of the Original Closing Date (with respect to the Initial Solar Assets) and as of the most recent Transfer Date (as to all Eligible Solar Assets then owned by a Financing Fund or SAP) are (or in the case of a New Construction Solar Asset (Non-Identified Customer), will be) related to Host Customers that are Persons who are employees of the Parent, the Borrower or any of their respective Affiliates.
Solar Service Agreements comprising no more than 0.25% of the Aggregate Discounted Solar Asset Balance as of the Original Closing Date (with respect to the Initial Solar Assets) and as of the most recent Transfer Date (as to all Eligible Solar Assets then owned by a Financing Fund or SAP) are (or in the case of a New Construction Solar Asset (Non-Identified Customer), will be) related to Host Customers that are Persons who are employees of the Parent, the Borrower or any of their respective Affiliates.
Attached hereto as Annex E to this NPA Supplement is a schedule of the Aggregate Discounted Solar Asset Balance of the Conveyed Property conveyed on such Closing Date.
To the Borrower’s Knowledge, Customer Agreements comprising no more than 1% of the Aggregate Discounted Solar Asset Balance are related to Host Customers that are employees of a HPS Party or the Provider or any of their respective Affiliates.
As of the Cut‑Off Date, the Aggregate Discounted Solar Asset Balance is approximately $254,063,483.
More Definitions of Discounted Solar Asset Balance
Discounted Solar Asset Balance means, as of any date of determination (x)(i) with respect to the Managing Member Interests (other than a Substantial Stage Solar Asset), the present value of the remaining and unpaid stream of Net Cash Flow on or after such date of determination, based upon discounting such Net Cash Flow to such date of determination at an annual rate equal to the Discount Rate and (ii) with respect to a Substantial Stage Solar Asset, the amount actually disbursed to Dealers (Solar Assets) for services rendered in respect of such Solar Asset; provided, however, that in the case of clause (i), any Transferable Solar Asset will be deemed to have a Discounted Solar Asset Balance equal to zero ($0), and (y) for purposes of determining the Default Level (Solar Assets) respect to a Host Customer Solar Asset, the present value of the remaining and unpaid stream of Net Scheduled Payments for such Host Customer Solar Asset for the period beginning on such date of determination and ending on the date of the last Net Scheduled Payment for such Host Customer Solar Asset shall be based upon discounting such Net Scheduled Payments to such date of determination at an annual rate equal to the Discount Rate.
Discounted Solar Asset Balance means, with respect to each Operating Project, the present value of its projected net cashflows, after any Tax Equity Distributions or buyouts, determined using the Discount Rate and subject to standard assumptions to be mutually agreed upon by Borrower and the Blackstone Representative from time to time.
Discounted Solar Asset Balance means, with respect to any Solar Asset as of any date of determination, an amount equal to (i) the Discounted Solar Asset Revenue, minus (ii) the Discounted Solar Asset Expenses, in each case as of such date of determination and for such Solar Asset; provided, that any Solar Asset that is a Defective Solar Asset, Defaulted Solar Asset, Cancelled Solar Asset or Terminated Solar Asset shall be deemed to have a Discounted Solar Asset Balance equal to $0. Prepaid Projects may have a negative Discounted Solar Asset Balance.
Discounted Solar Asset Balance means, with respect to any Solar Asset and as of any Calculation Date, an amount equal to the present value of the remaining and unpaid stream of Net Scheduled Payments for such Solar Asset on or after such Calculation Date, based upon discounting such Net Scheduled Payments to such Calculation Date at an annual rate equal to the Discount Rate; provided, however, that any Non-Advanced Solar Asset, Defective Solar Asset, Defaulted Solar Asset, Cancelled Solar Asset or Terminated Solar Asset will be deemed to have a Discounted Solar Asset Balance equal to $[***].
Discounted Solar Asset Balance means, as of any date of determination (x)(i) with respect to the Managing Member Interests (other than a Substantial Stage Solar Asset), the present value of the remaining and unpaid stream of Net Cash Flow on or after such date of determination, based upon discounting such Net Cash Flow to such date of determination at an annual rate equal to the Discount Rate and (ii) with respect to a Substantial Stage Solar Asset, the amount actually disbursed to Dealers (Solar Assets) for services rendered in respect of such Solar Asset; provided, however, that in the case of clause (i), any Transferable Solar Asset will be deemed to have a Discounted Solar Asset Balance equal to zero ($0), and (y) for purposes of determining the Default Level (Solar Assets) respect to a Host Customer Solar Asset, the present value of the remaining [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed. and unpaid stream of Net Scheduled Payments for such Host Customer Solar Asset for the period beginning on such date of determination and ending on the date of the last Net Scheduled Payment for such Host Customer Solar Asset shall be based upon discounting such Net Scheduled Payments to such date of determination at an annual rate equal to the Discount Rate.
Discounted Solar Asset Balance means, with respect to any Solar Asset as of any date of determination, an amount equal to (i) the Discounted Solar Asset Revenue, minus (ii) the Discounted Solar Asset Expenses, in each case as of such date of determination and for such Solar Asset; provided, that any Solar Asset that is a Defective Solar Asset, Defaulted Solar Asset, Cancelled Solar Asset or Terminated Solar Asset shall be deemed to have a Discounted Solar Asset Balance equal to $0. Prepaid Projects may have a negative Discounted Solar Asset Balance. “Discounted Solar Asset Expenses” means, with respect to any Solar Asset as of any date of determination, the present value of the Allocated Services Provider Fees for such Solar Asset on or after such date of determination, based on discounting such Allocated Services Provider Fees to such date of determination at an annual rate equal to the Discount Rate. “Discounted Solar Asset Revenue” means, with respect to any Solar Asset as of any date of determination, the sum of the present value of (A) the Scheduled Host Customer Payments for such Solar Asset on or after such date of determination plus (B) the Scheduled PBI Payments for such Solar Asset on and after such date of determination, in each case, based on discounting such Scheduled Host Customer Payments and Scheduled PBI Payments to such date of determination at an annual rate equal to the Discount Rate. “Distributable Cash” shall, for each Tax Equity Fund, mean “Distributable Cash” or “Available Cash” or similar term, as applicable, in each case, as set forth in the related Tax Equity Opco LLC Agreement. “Distributable Revenue” has the meaning set forth in Section 2.7(B). “Dollar,” “Dollars,” “U.S. Dollars” and the symbol “$” means the lawful currency of the United States. “DSCR” means, as of any Payment Date, the ratio of: (i) (a) the aggregate Borrower Subsidiary Distributions in respect of the Collection Period ending on the Quarterly Date preceding such Payment Date (excluding the portion of any amounts paid by the related Host Customer that represent the prepayment or buyout of cash flows expected to be received during subsequent Collection Periods and any amounts paid by the related Host Customer in respect of sales, use or property taxes), minus (b) the sum of the Collateral Agent Fee, the Custodial Fee, the Paying Agent Fee, the Transaction Manager Fee, the Transaction Transition Manager Fee and all amounts owed to the Servicers with respect to any Wholly-Owned Subsidiary under...
Discounted Solar Asset Balance means, as of any date of determination (x)(i) with respect to the Managing Member Interests (other than a Substantial Stage Solar Asset), the present value of the remaining and unpaid stream of Net Cash Flow on or after such date of determination, based upon discounting such Net Cash Flow to such date of determination at an annual rate equal to the Discount Rate and