Topic:"Affordability" in M13042

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary The text outlines procedures for testing and maintaining revenue class metering equipment, ensuring accuracy and compliance with standards. NSPI is responsible for testing, and financial adjustments may be required if meter accuracy exceeds 2% variance. Both parties have rights to be represented during meter sealing/unsealing and to request tests.

s and shall cease to be entitled to any of the Seller's rights and benefits contained in this Agreement, unless the Project Lender's Security Agreement remains in effect by way of continuing security. - (f) Notwithstanding Section 16.2, th...

AI summary This section outlines the conditions under which the Project Lender may transfer or dispose of the Seller's Interest in the Project, requiring NSPI's approval and ensuring the transferee meets technical and financial criteria. It also details NSPI's rights and obligations in the event of termination due to a Seller Event of Default.

4. Indemnity As a separate and distinct obligation, the Guarantor hereby indemnifies and saves NSPI harmless from and against any and all damages, losses, costs and expenses of any nature whatsoever resulting from or in consequence of any...

AI summary The Guarantor is required to indemnify NSPI against damages, losses, costs, and expenses resulting from the Seller's default or non-payment under the Agreement, with the maximum recoverable amount limited to the Maximum Guarantee Amount.

5. Release of Guarantee Upon request by the Seller pursuant to Section [6.1(d)](#page-53-0) of the Agreement and provided that the conditions for the return of this Guarantee set out in the Agreement have been satisfied, NSPI shall return...

AI summary This section outlines the process for the release of a guarantee by NSPI upon the Seller's request and fulfillment of conditions specified in the Agreement, thereby discharging the Guarantor from future obligations.

before and after default, arbitral award and judgement. Procurement Administrator – means a person appointed under subsection 27(1) of the Electricity Act, to administer the Green Choice Program. Project – means the Facility and any rights...

AI summary The text defines key terms related to the Green Choice Program, including the Procurement Administrator, Project, Project Amendment, Project Description, Project Lender, and Project Lender Agreement, under the Electricity Act.

2.8 Local Benefits Shortfall In the event that the Local Benefits expenditure as set out in the Local Benefits Report is less that the Local Benefits set out in the Proposal, then the Seller shall pay the difference between the Local Benef...

AI summary If the Local Benefits expenditure in the Local Benefits Report is less than the amount proposed, the Seller must pay the difference to NSPI within 20 business days after COD occurs.

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary The document outlines requirements for testing and maintaining revenue class metering equipment, specifying that NSPI must ensure accuracy within 2% or replace the equipment if it falls outside of Measurement Canada's error limits. Financial adjustments may be made if variances exceed 2%, and both parties are given opportunities to be present during meter sealing or unsealing.

er which have accrued up to such time, as well as those which have arisen upon early termination of the Agreement, have been discharged. - (c) The Performance Security shall be in the form of either: - (i) a Letter of Credit or such other...

AI summary The text outlines the requirements for Performance Security under an agreement, specifying that it must be in the form of a Letter of Credit or other credit support acceptable to NSPI. The Seller is required to renew Letters of Credit and provide replacement security if renewal is not possible.

(e) Until a Project Lender: - (i) exercises its foreclosure rights or has otherwise taken ownership of the Seller's Interest, or - (ii) has taken possession or control of the Seller's Interest, whether directly or by an agent as a mortgage...

AI summary The text outlines the conditions under which a Project Lender is not liable for the Seller's obligations and is not entitled to the Seller's rights and benefits, unless the Project Lender's Security Agreement remains in effect as continuing security.

APPENDIX D - SUMMARIZED STAKEHOLDER FEEDBACK ON PPA DRAFT #1 PPA Section Question Comment Response Exhibit D - Form of Letter of Credit There is a requirement that equity providers have: 1. Investment grade credit rating, 2. confirmation o...

AI summary Stakeholders expressed concerns about the requirement for equity providers to have an investment grade credit rating and confirmation of credit availability, which may be unfeasible for Indigenous entities. They also argued that it is unreasonable to require lenders to provide binding conditional commitments without completing full due diligence. The response was that no changes would be made.

ions, and Workbook]; - (xii) the Proponent has submitted as part of their Proposal a Financing Plan that satisfies the requirements set out in Section [2.11](#page-11-0) [Prescribed Form: Financing]; - (xiii) the Proponent has submitted as...

AI summary The text outlines mandatory requirements that a proponent must meet in their proposal, including submission of a financing plan, environmental risk assessments, transportation and logistics approaches, and cybersecurity measures. Proposals failing to meet these requirements will be rejected.

S UMMARY OF RECOMMENDATIONS For the reasons set out above, the IG recommends that the Board direct the PA to provide, or that the PA otherwise provide in its reply, the following before the GCP PPA is approved: - An analysis of the expecte...

AI summary The IG recommends that the Board require the PA to provide analyses on ratepayer costs related to CPI indexation, early completion incentives, curtailment compensation, and jurisdictional security data before approving the GCP PPA. These analyses are intended to ensure cost-effectiveness and protect ratepayers.

1.5 Waiver, Amendment No waiver of any provision of the Agreement shall be binding unless executed in writing by the Party to be bound thereby. No waiver of any provision of the Agreement shall constitute a waiver of any other provision th...

AI summary The section outlines the conditions under which a waiver of any provision in the Agreement is valid, emphasizing that it must be in writing and does not constitute a continuing waiver. It also states that inspections or reviews by NSPI or Government Agencies do not relieve the Seller of its obligations.

2.7 Local Benefits Shortfall In the event that the Local Benefits expenditure as set out in the Local Benefits Report is less that the Local Benefits set out in the Proposal, then the Seller shall pay the difference between the Local Benef...

AI summary If the Local Benefits expenditure in the Local Benefits Report is less than the amount proposed, the Seller must compensate NSPI for the difference within 40 business days after COD.

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary This section outlines the procedures for testing and maintaining revenue class metering equipment, including requirements for calibration, financial adjustments for inaccuracies, and notification protocols between the Parties. NSPI is responsible for ensuring accuracy, and both Parties have rights to be involved in meter sealing and testing.

12.1 Project Lender Security The Seller, from time to time on or after the Effective Date shall have the right, at its cost, to enter into a Project Lender's Security Agreement. For greater certainty, if such Project Lender's Security Agre...

AI summary The document outlines the conditions under which a Project Lender's Security Agreement can be entered into by the Seller, specifying that NSPI is not liable for any obligations under such agreements and that only the trustee may exercise rights and remedies on behalf of lenders.

4. Indemnity As a separate and distinct obligation, the Guarantor hereby indemnifies and saves NSPI harmless from and against any and all damages, losses, costs and expenses of any nature whatsoever resulting from or in consequence of any...

AI summary The Guarantor is obligated to indemnify NSPI against damages, losses, costs, and expenses arising from the Seller's default or non-payment under the Agreement, with the maximum recoverable amount limited to the Maximum Guarantee Amount.

7. Subrogation The Guarantor shall not be or claim to be subrogated, in whole or in part, to the rights of NSPI against the Seller under the Agreement or otherwise, until (a) NSPI shall have received full and indefeasible payment of all Gu...

AI summary This section outlines the conditions under which the Guarantor may be subrogated to the rights of NSPI against the Seller. Subrogation is only permitted after full payment of Guaranteed Obligations and termination of the Agreement or Guarantee. The Guarantor retains legal and equitable rights to subrogation outside these conditions.

1.5 Waiver, Amendment No waiver of any provision of the Agreement shall be binding unless executed in writing by the Party to be bound thereby. No waiver of any provision of the Agreement shall constitute a waiver of any other provision th...

AI summary The section outlines the conditions under which a waiver of any provision in the Agreement is valid, emphasizing that it must be in writing and does not imply a continuing waiver. It also states that inspections or reviews by NSPI or government agencies do not relieve the Seller of its obligations.

2.7 Local Benefits Shortfall In the event that the Local Benefits expenditure as set out in the Local Benefits Report is less that the Local Benefits set out in the Proposal, then the Seller shall pay the difference between the Local Benef...

AI summary The Local Benefits Shortfall refers to the difference between the Local Benefits amount in the Proposal and the actual Local Benefits expenditure in the Local Benefits Report. If the expenditure is less than the proposed amount, the Seller must pay the difference to NSPI within 40 business days after COD.

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary The section outlines procedures for testing and maintaining revenue class metering equipment by NSPI. It specifies that either party may request tests, and outlines the process for handling inaccuracies, including financial adjustments if meter accuracy exceeds a 2% variance.

- (c) The Performance Security shall be in the form of either: - (i) a Letter of Credit or such other credit support from a Person which is in the form and/or issued by a Person that is acceptable to NSPI acting reasonably. In respect of a...

AI summary The Performance Security under the agreement can be provided through a Letter of Credit or a Guarantee from an Eligible Guarantor. The Seller must ensure timely renewal or replacement of these security measures, and NSPI must return the original Guarantee upon delivery of a replacement.

defaults under Section [10.3(a)](#page-51-1) and shall remain liable for any obligations and liabilities of the assignee arising from any NSPI Event of Default occurring prior the assignment by NSPI. - (i) For the purpose of this Section 1...

AI summary This section outlines the conditions under which an assignment of the agreement can occur, including the liability of the assignor for obligations arising from events of default prior to the assignment. It also specifies the reimbursement of costs incurred by the other party during the review and execution of the assignment process.

16.8 Survival and Enurement - (a) Except as otherwise expressly provided in this Agreement, this Agreement shall not confer upon any other Person any rights, interests, obligations or remedies under the Agreement except the Parties and, su...

AI summary This section outlines the survival and enurement of the agreement, specifying that certain provisions will remain in effect even after the agreement's expiration or termination. These include rights, obligations, and remedies related to performance security, confidentiality, indemnification, and dispute resolution.