Common use of Report Review Clause in Contracts

Report Review. The IGA Report in its entirety with all Schedules and comments shall be reviewed in a meeting by the ESCO, ISSUER, Authority Having Jurisdiction and the Qualified Reviewer prior to pursuing project financing. USI shall attend this meeting to assess conformity with statutes and the M&V guidelines. The meeting of these organizations to discuss findings should be conducted in person. In the event either the ISSUER or ESCO requests an increase in the scope of the Report, ESCO and ISSUER shall negotiate in good faith an increase in the not-to-exceed cost of the Report and an extension of the date established in Article 1 J as appropriate. ISSUER shall review the final Report. Following ISSUER’s review, and if ISSUER finds the Report compliant with the terms of this Agreement, ISSUER will provide written notification of acceptance to ESCO (Exhibit 1). If ISSUER finds deficiencies in the Report, ISSUER shall provide ESCO with written notification of specific deficiencies within thirty (30) calendar days of receipt of the Report. If ISSUER does not provide a written notification within thirty (30) calendar days of receipt, the Report shall be deemed accepted for the purposes of Article 4, Section C. In the event of a notice of deficiencies, ESCO shall have thirty (30) calendar days to submit a response. In the event that financing or bonding costs of the project increase after the ESCO submits the Report, ESCO and ISSUER shall negotiate in good faith adjustments necessary in scope, costs and guaranteed savings required to provide positive cash flow for the project.