Common use of Construction Timelines Clause in Contracts

Construction Timelines. The SRC Producer will have 30 months to bring the PV System to Substantial Completion from the date of notice that the SRC Bid was a winning bid (the “Target Completion Date”). If the PV System has not achieved Substantial Completion by the Target Completion Date, the Deposit will be forfeited to the Renewable Energy Standard Adjustment account in an amount equal to 1/180th of the Deposit per day for each day following the Target Completion Date that the PV System has not been brought to Substantial Completion, not to exceed the Deposit. If the PV System has not been brought to Substantial Completion after 36 months, Public Service will consider the PV System incomplete and have the right to remove it from the Solar*Rewards Community program with any associated capacity forfeited and terminate this Agreement which will be effective upon written notice to SRC Producer of such termination.