If a Seller has a Project with approved Bids, by 12 PM CPT (noon) on the first business day after the ICC decision (October 10, 2018), each Company prepares and sends a partially executed electronic copy of the REC Contract and related documents to the Seller. By 12 PM CPT (1 PM Eastern Prevailing Time) on the next business day, the Seller executes the signature pages of the partially executed REC Contracts and related documents and sends such fully executed signature pages to the Company electronically.
Under the REC Contract, the Performance Assurance is due within five (5) business days of a request from the Company. Such a request can be issued at the start of the formalities for the execution of the REC Contract. If Seller fails to provide Performance Assurance within 5 business days of this request, an event of default shall be deemed to have occurred.