Indexed REC-48: Under what circumstances will a Seller forfeit its collateral requirement under the Indexed REC Contract?

It is the responsibility of each bidder to review the terms of the Indexed REC Contract and to understand the conditions in which performance assurance under the Indexed REC Contract may be forfeited or drawn upon.  Each bidder accepts these terms as a condition of its participation in the Indexed REC RFP.

Please note, pursuant to Section 4.1(c) of the Indexed REC Contract, Seller’s failure to Deliver at least one (1) REC from the Project by the Initial REC Delivery Deadline, May 31, 2029, or extended deadline pursuant to Section 2.4 or Section 10.1 shall constitute an Event of Default. For such an event of default, the Seller will be required to pay the Buyer an amount equal to the Collateral Requirement (or Increased Collateral Requirement, if applicable). In addition, please review Article 9 of the Indexed REC Contract for additional events of default and their associated remedies.