Replacement RECs definition

Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a RPS Class I Renewable Generation Unit and a generating facility eligible to satisfy the CES and the Clean Peak Standard (subject to Sections 4.1(b) and 4.1(c)), generating the same Environmental Attributes as are expected to be generated by the Facility at such time, that are available for purchase by Buyer as replacement for any RECs not Delivered as required hereunder during the Services Term.
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Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a RPS Class I Renewable Generation Unit that are purchased by Buyer as replacement for any Delivery Failure.
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Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a Newly Developed Renewable Energy Resource that are purchased by Buyer as replacement for any Delivery Shortfall.
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Examples of Replacement RECs in a sentence

  • Following 90 days after the initiation of the Forced Outage Event, QFCP Generator shall be entitled to 70% of the disbursements per MWH of reduction in output to which the QFCP Generator would have been entitled but for the Forced Outage Event in the event that QFCP Generator has provided the Company with certification, pursuant to the PJM GATTS system or successor system, that it has acquired and retired Forced Outage Replacement RECs as set forth in Section K.

  • For purposes of this section, it is “commercially reasonable” not to acquire Forced Outage Replacement RECs if they are not available in sufficient quantities or if the acquisition price would exceed $45 per Forced Outage Replacement REC.

  • Such Forced Outage Replacement RECs shall be retired at QFCP Generator’s own expense without payment or reimbursement for the acquisition thereof from any source.

  • In the event REC Supplier defaults under, or terminates, the RPA prior to the termination of this ESA, Competitive Supplier shall procure and provide Replacement RECs for the continuing term of the ESA sufficient to support the Municipality’s opt-out and opt-in programs as described in Exhibit A of the RPA.

  • The prices included in Exhibit A of the ESA shall not be subject to modification because Competitive Supplier is required to provide Replacement RECs.

  • Replacement RECs – Renewable Energy Certificates (RECs) to be provided by the Competitive Supplier in the event the REC Supplier defaults under, or terminates, the REC Purchase Agreement prior to termination of the ESA as provided in Article 8.2.

  • For all output for which QFCP Generator, despite using commercially reasonable efforts, is unable to acquire and retire Forced Outage Replacement RECs as set forth in Sections K (5) a and b above during a Forced Outage Event (hereinafter a “Replacement REC Shortfall”), the Company shall collect from its customers and disburse to the QFCP Generator 55% of the disbursements per MWH of reduction in output to which the QFCP Generator would have been entitled but for the Forced Outage Event.

  • If it is not in the best interest of ratepayers to accept Replacement RECs, CMP has the ability to decline Replacement RECs associated with electricity generation in contract years two through five in the first term, and for the entire second term if the Agreement is extended.

  • Although the Agreement is primarily for RECs from the VRC Project, if the VRC Project is unable to generate the amount of RECs required for the applicable contract year, Verso Bucksport may purchase Maine Class I RECs from other generation sources (hereinafter referred to as Replacement RECs) and deliver the Replacement RECs to CMP to fulfill Verso’s obligations under the Agreement and keep the Agreement in effect.

  • Company shall supply Replacement RECs that were generated within 5 years preceding the year of such reduction or curtailment.


More Definitions of Replacement RECs

Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a RPS Class I Renewable Generation Unit that are purchased by Buyer as replacement for any Delivery Shortfall; provided, however, that if the Facility ceases to qualify as a RPS Class I Renewable Generation Unit solely as a result of a change in Law and Seller is unable, using commercially reasonable efforts, to continue the Facility’s qualification as a RPS Class I Renewable Generation Unit after that change in Law, “Replacement RECs” shall mean Environmental Attributes including any Certificates or other certificates or credits related thereto reflecting generation by a generating facility having all of the same relevant Environmental Attributes as the Facility and satisfying the other renewable portfolio standards and renewable energy standards for which the Facility is qualified at such time pursuant to Section 4.7(c), that are purchased by Buyer as a replacement for any Delivery Shortfall.
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Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a RPS Class I Renewable Generation Unit that are purchased by Buyer as replacement for any RECs not Delivered as required hereunder [during the Services Term]..
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Replacement RECs means tradable credits or certificates that meet the definition of Renewable Energy Credit pursuant to Chapter 19.285 of the Revised Code of the State of Washington in effect as of the date of signing of this Agreement.
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Replacement RECs means any RECs, including any certificates or credits related thereto reflecting generation by a RPS Class I Renewable Resource that are purchased by Buyer as replacement for any Delivery Failure.
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Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a RPS Class I Renewable Generation Unit that are purchased by Buyer as replacement for any Delivery Shortfall; provided, however, that if the Facility ceases to qualify as a RPS Class I Renewable Generation Unit solely as a result of a change in Law and Seller is unable, using commercially reasonable efforts, to continue the Facility’s qualification as a RPS Class I Renewable Generation Unit after that change in Law, “Replacement RECs” shall mean Environmental Attributes including any Certificates or other certificates or credits related thereto reflecting generation by a generating facility having all of the same relevant Environmental Attributes as the Facility and satisfying the other renewable portfolio standards and renewable energy standards for which the Facility is † Without limiting the generality of the note on the cover page, each distribution company reserves the right to include in any power purchase agreement provisions that address the Parties’ rights with respect to a constitutional challenge to Section 83 of the Green Communities Act and/or applicable regulations issued by the MDPU under Section 83 of the Green Communities Act. qualified at such time pursuant to Section 4.7(c), that are purchased by Buyer as a replacement for any Delivery Shortfall.
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Replacement RECs means any generation or environmental attributes, including any Certificates or other certificates or credits related thereto reflecting generation by a any Delivery Failure.
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Related to Replacement RECs

  • Replacement Aircraft means the Aircraft of which a Replacement Airframe is part.

  • Replacement Airframe means an Airbus A321 aircraft or a comparable or improved model of Manufacturer (except (a) Engines or engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof, together with all Parts relating to such aircraft.

  • Replacement Engine means a [Engine Manufacturer and Model] engine (or an engine of the same or another manufacturer of a comparable or an improved model and suitable for installation and use on the Airframe with the other Engine (or any other Replacement Engine being substituted simultaneously therewith)) that shall have been made subject to the Lien of the Indenture pursuant to Section 7.04 or Section 7.05 thereof, together with all Parts relating to such engine, but excluding items installed or incorporated in or attached to any such engine from time to time that are excluded from the definition of Parts.

  • Replacement Facility means 1 of the following:

  • Replacement Date has the meaning set forth in Section 2.08(b).

  • Replacement Reserve As defined in Section 9.5.1.

  • Replacement Reserve Agreement means a Replacement Reserve and Security Agreement, reasonably required by the Lender, and completed in accordance with the requirements of the DUS Guide.

  • Replacement Price means the price, determined by Buyer in a commercially reasonable manner, at which Buyer purchases (if at all) substitute SRECs having the same or subsequent Reporting Year as those SRECs not delivered by Seller for the deficiency or, absent such a purchase, the Market Price for such quantity of SRECs at or during the time that Seller fails to deliver the SRECs, provided that the Market Price shall never exceed the solar alternative compliance payment.

  • Replacement Agreement means an agreement entered into as a replacement for any Relevant Agreement;

  • Replacement Equipment means operational equipment or other parts used by Tenant to replace any of the Equipment.

  • Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

  • Replacement Product means electric generating capacity, capacity-related benefits, environmental attributes, Energy or other electric products from a generation resource other than the Facility that are provided or delivered to replace or substitute for Contract Capacity or Storage Capacity (or any Capacity-Related Benefit, Environmental Attribute, Other Electric Product, Contract Energy, or Storage Energy associated therewith), in each case, in whole or in part, pursuant to Section 4.6.

  • Replacement Card means a renewal or replacement Card issued to you by us;

  • Replacement Candidate means any Candidate Introduced by the Agency to the Client to fill the Engagement following the Introduction of another Candidate whose Engagement either did not commence or was terminated during the first 12 weeks of the Engagement;

  • Replacement Notice is defined in Section 4.11.

  • Replacement Energy means Energy purchased by Buyer as replacement for any Delivery Shortfall.

  • Replacement Interest Rate Cap Agreement means an interest rate cap agreement from an Acceptable Counterparty with terms identical to the Interest Rate Cap Agreement except that the same shall be effective in connection with replacement of the Interest Rate Cap Agreement following a downgrade, withdrawal or qualification of the long-term unsecured debt rating of the Counterparty; provided that to the extent any such interest rate cap agreement does not meet the foregoing requirements, a “Replacement Interest Rate Cap Agreement” shall be such interest rate cap agreement approved in writing by each of the Rating Agencies and Lender with respect thereto.

  • Replacement Sub-Contractor means a sub-contractor of the Replacement Supplier to whom Transferring Supplier Employees will transfer on a Service Transfer Date (or any sub-contractor of any such sub-contractor);

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Replacement Assets means (1) tangible non-current assets that will be used or useful in a Permitted Business or (2) substantially all the assets of a Permitted Business or a majority of the Voting Stock of any Person engaged in a Permitted Business that will become on the date of acquisition thereof a Restricted Subsidiary.

  • Replacement Rate has the meaning assigned thereto in Section 4.2.(b).

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Provider has the meaning set forth in Section II.D.1.

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • Replacement Benchmark means a benchmark rate which is:

  • Replacement Cut-Off Date With respect to any Qualified Replacement Mortgage, the first day of the calendar month in which such Qualified Replacement Mortgage is conveyed to the Trust.