"Annual Budget" has the meaning set forth in Section 6.2(a).
"Annual Project Operating Plan" has the meaning set forth in Section 6.2.
"Bankruptcy" means a situation in which (i) a party’s actions under applicable debtor
relief laws demonstrate an inability to pay its debts as they mature or a need for
protection from its creditors; (ii) a court of competent jurisdiction approves a petition
filed against a party, which petition sought relief for the party’s creditors, and the action
of the court remains in effect for an aggregated period of 60 days (whether or not
consecutive); (iii) a party admits in writing its inability to pay its debts as they mature;
(iv) a party gives notice to any person or entity of its current (or pending) insolvency or
suspension of operations; or (v) a party makes an assignment for the benefit of creditors
or takes other similar action for the protection or benefit of its creditors.
"Business Day" means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized or required to close in the State of New Hampshire.
"Contract Year" means: (i) for the first Contract Year, that period from the date of this
Agreement to and including December 31 of such year; and (ii) for each Contract Year
thereafter, the calendar year.
“Effective Date” means January 1, 2017.
“Fiscal Year” means July 1 through June 30
Five-Year Budget" has the meaning set forth in Section 6.2(d).
"Force Majeure Event" means an event, condition or circumstance beyond the reasonable
control of, and not due to the fault or negligence of, the party affected, and which could
not have been avoided by due diligence and use of reasonable efforts, which prevents the
performance by such affected party of its obligations hereunder; provided, that a "Force
Majeure Event" shall not be deemed to have occurred or to be continuing unless the party
claiming Force Majeure complies with the requirements of Section 15.3 (Force Majeure).
Subject to the foregoing, "Force Majeure Event" shall include, as to either party,
explosion and fire (in either case to the extent not attributable to the negligence of the
affected party), flood, earthquake, storm or other natural calamity or act of God, strike or
other labor dispute, war, insurrection or riot, actions or failures to act by governmental
entities or officials, failure to obtain governmental permits or approvals (despite timely
application therefor and due diligence) and changes in laws, rules, regulations, orders or
ordinances affecting operation of the Project, which events were not pending on the date
of this Agreement.
“Gross Revenue” shall mean the total revenue of the Project in the preceding quarter
from the sale, trade or auction of electricity, capacity and Renewable Energy Certificates
(“RECs”) and shall include electricity, capacity and RECs which are sold, traded and/or
auctioned during the preceding quarter, even if the payment is not received until after the
