S&B-65: Is there a penalty if a Seller submits increased collateral to extend the REC delivery deadline to May 31, 2022, but the Date of First Operation of the Project is after March 30, 2022?

The Date of First Operation is information that is required in the Part 1 Proposal as part of the information about the Project, along with information about site control and milestones achieved. The Date of First Operation appears in the REC Contract in that a Project must be “new” and thus it must be that its Date of First Operation did not occur on or before June 1, 2017. Assuming that the Project is new, deadlines for the Project under the REC Contract to become operational are deadlines for the first REC Delivery.