W&S-155: What happens if it is not the case that 50% of the Project, once it is built, is located within the physical location identified in the REC contract? Are there circumstances for which the Buyer can make exceptions to this requirement?

Section 5(f) of the Coversheet of the REC Contract requires that “at least 50% of the Project is located within the physical location identified.” Failure to comply with this requirement is 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.  There are no exceptions to this requirement.