Section 4.1(d) of the Indexed REC Contract outlines the termination of the contract if the Seller determines that it will not be able to construct the Project in a timely manner prior to the REC Delivery deadline. In such a case Seller shall provide a written notice of that determination to Buyer. Buyer shall be entitled to payment by Seller in the amount of the Collateral Requirement or Increased Collateral Requirement, as applicable. Buyer shall terminate this Agreement within twenty (20) Business Days of the later of: (i) Buyer’s receipt of written notice from Seller; or (ii) Buyer’s receipt of payment in the amount of the Collateral Requirement or Increased Collateral Requirement, as applicable.
In this situation, there is no prohibition for the bidder to submit a bid for the same Project in a subsequent Indexed REC RFP provided that the contract is fully terminated prior to the submission of the Part 1 Proposal for the Project.