Common use of Call Option Volume and Exercise Price Clause in Contracts

Call Option Volume and Exercise Price. ‌ (a) The Additional ERs are: In the event that the ER Program generates in a Reporting Period ERs in excess of the Contract ER Volume the Parties agree to grant the Grantee a Call Option to purchase such additional ERs (“Additional ERs”). Subject to the Maximum Option Volume (see below), the Grantee may exercise the Call Option for all or part of the Tranche B Pro Rata Share in Additional ERs and, if applicable, for any additional amount of Additional ERs for which the Trustee of Tranche A of the Fund has not exercised its call option in full after a Reporting Period under the Tranche A ERPA. (b) Maximum Option Volume is: Tranche B Pro Rata Share of 20,000,000 Additional ERs (c) Exercise Price is: The Exercise Price per transferred Additional ER shall be negotiated and agreed within sixty (60) calendar days following receipt of a final Verification Report indicating that Additional ERs have been generated under the ER Program during a Reporting Period. If the Parties cannot agree on an Exercise Price within such time period, the Call Option shall lapse upon the end of such time period for that Reporting Period, and that Reporting Period only. (d) Exercise Period: Within sixty (60) calendar days following agreement between the Parties on an Exercise Price for Additional ERs. (e) Exercise Completion Date is: (f) Increase of Maximum Option Volume: Ninety (90) calendar days following receipt by the Grantor of the Exercise Notice. In the event that the Maximum Option Volume is increased by the Trustee under Sections 13.02(c) and/or 16.03 of the General Conditions, the Grantee may exercise the portion of the Call Option increased due to the exercise of the remedies first before it exercises the portion of the Call Option granted under Section 5.02(a). For the avoidance of doubt, the Exercise Price payable for the Additional ERs increased due to the exercise of the remedies will be the Unit Price.

Call Option Volume and Exercise Price. ‌ (a) The Additional ERs are: In the event that the ER Program generates in a Reporting Period ERs in excess of the Contract ER Volume the Parties agree to grant the Grantee a Call Option to purchase such additional ERs (“Additional ERs”). Subject to the Maximum Option Volume (see below), the Grantee may exercise the Call Option for all or part of the Tranche B A Pro Rata Share in Additional ERs and, if applicable, for any additional amount of Additional ERs for which the Trustee of Tranche A B of the Fund has not exercised its call option in full after a Reporting Period under the Tranche A B ERPA. (b) Maximum Option Volume is: Tranche B A Pro Rata Share of 20,000,000 Additional ERs (c) Exercise Price is: The Exercise Price per transferred Additional ER shall be negotiated and agreed within sixty (60) calendar days following receipt of a final Verification Report indicating that Additional ERs have been generated under the ER Program during a Reporting Period. If the Parties cannot agree on an Exercise Price within such time period, the Call Option shall lapse upon the end of such time period for that Reporting Period, and that Reporting Period only. (d) Exercise Period: Within sixty (60) calendar days following agreement between the Parties on an Exercise Price for Additional ERs. (e) Exercise Completion Date is: (f) Increase of Maximum Option Volume: Ninety (90) calendar days following receipt by the Grantor of the Exercise Notice. In the event that the Maximum Option Volume is increased by the Trustee under Sections 13.02(c) and/or 16.03 of the General Conditions, the Grantee may exercise the portion of the Call Option increased due to the exercise of the remedies first before it exercises the portion of the Call Option granted under Section 5.02(a). For the avoidance of doubt, the Exercise Price payable for the Additional ERs increased due to the exercise of the remedies will be the Unit Price.