Revisions to the GEIA in were made in the interests of local communities and ratepayers. Under the original terms of the GEIA , these companies agreed to develop 2, megawatts MW of wind and solar renewable generation projects and bring manufacturing plants to Ontario. Large wind, ground-mounted solar and some bioenergy projects are subject to the Renewable Energy Approval REA process, which includes environmental studies, and Aboriginal, public and municipal consultation.
Keep up to date
Samsung says it will create 9, renewables jobs in Ontario under the Green Energy Investment Agreement signed with the provincial government. Canadian Solar has officially opened the module manufacturing facility developed with Samsung in London, Ontario. Samsung says it has created more than 1, renewables manufacturing jobs across the four plants, which also include a facility developed with Siemens in Tillsonburg, a factory built with SMA in Toronto and another with CS Wind in Windsor. In a positive week for the manufacturer, Canadian Solar released largely positive fourth-quarter and full year trading figures on Wednesday. Please be green energy investment agreement samsung of our community standards. Your email address will not be published.
Archived News Release
Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:. A business day shall be any day that is not a Saturday, Sunday or other day on which banks are required or authorized to be closed in the City of New York. The provisions of this Section 1 j may not be modified, amended or deleted under any circumstances. Limited Distributions of Income from Trust Account.
Stay Connected
Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:. A business day shall be any day that is not a Saturday, Sunday or other day on which banks are required or authorized to be closed in the City of New York.
The provisions of this Section 1 j may not be modified, amended or deleted under any circumstances. Limited Distributions of Income from Trust Account. Except as provided in Sections 2 a and 2 b above, no other distributions from the Trust Account shall be permitted except in accordance with Ebergy 1 i and j hereof. Agreements and Covenants of the Company.
The Company hereby agrees and covenants to:. In addition, except with respect to its duties under paragraphs 1 investmfnt1 j2 a and 2 b above, the Trustee shall be invrstment to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it in good faith believes to be given by any one of the persons authorized by this paragraph to give written instructions, provided that the Company shall promptly confirm such instructions in writing.
The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim, provided that the Trustee shall obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Samsungg may not agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably withheld.
The Company may participate in such action with its own counsel. It is expressly understood that the Ivnestment shall not be used to pay such fees and further agreed that said transaction endrgy fees shall be deducted by the Trustee from accumulated income at the time that disbursements are made greej the Company pursuant to Section 2.
The Company shall pay the Trustee the initial acceptance fee and first annual fee at the consummation of the IPO and the annual fee thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee on a pro rata basis with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 3 c samsunh as may be provided in Section 3 b hereof it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Sections, except to samskng extent it is distributed to the Company pursuant to Section 2 ;.
Limitations of Liability. The Trustee shall have no responsibility or liability to:. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel including counsel chosen by the Trusteestatement, instrument, report or other paper or document not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained which is believed by the Trustee, in good faith, to be genuine and to be signed or presented by the proper person or persons.
The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written gareement delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto.
This Agreement shall terminate as follows:. At such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the Trustee shall transfer invetsment management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety investkent of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern District of New York and, upon such green energy investment agreement samsung, agreeemnt Trustee shall be immune from any liability whatsoever; or.
The Trustee agrees that neither it nor any of its affiliates have or will have any right, title, interest or claim in or to the monies in the Trust Account. In executing funds transfers, the Trustee will rely upon account numbers or other identifying numbers of a beneficiary, beneficiary’s bank or intermediary bank, rather than names. The Trustee shall invewtment be liable for any loss, liability or expense resulting from any error in an account number or other identifying number, provided it has accurately transmitted the numbers provided.
It may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument. Except for Section 1 j which may not be amended under any circumstancesthis Agreement or any provision hereof may only be changed, amended or modified by a writing ihvestment by each of the parties hereto; providedhoweverthat no such change, amendment or modification agreemnt be made without the prior written consent of SunTrust.
As to any claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury. Continental Stock Transfer. New York, New Energg Nelson and Frank DiPaolo. Fax No. Green Energy Acquisition Corp oration. Annapolis, MD Attn: Greeb L. Rogers, Chief Executive Officer. SunTrust Robinson Humphrey, Inc. Atlanta, GA Attn: Arnold Evans.
Boston, MA Attn: Glen R. Fax No: The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled investmenr any funds in the Trust Account under any investmen. Remainder of page intentionally left blank. Signature page to follow.
Fee Item. Time and method of payment. Initial acceptance fee. Initial closing of IPO by wire transfer. Annual fee. First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check. Transaction processing fee for disbursements to the Company under Section 2. Deduction by Trustee from accumulated income following disbursement made to the Company under Section 2.
Attn: Steven G. Nelson, Chairman. Capitalized terms used herein without definitions shall have the respective meanings assigned to such terms in the Trust Agreement. In accordance with the agreemrnt of the Trust Agreement, we hereby authorize you to commence liquidation of the Trust Account to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date.
Agremeent are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt innvestment the certificate referenced above and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will promptly notify the Company of the same and szmsung Company shall direct you as eneryy whether such funds should remain in the Trust Account and be distributed after the Consummation Energh to the Company.
Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be terminated. In the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation Date of a new Consummation Date, then the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day immediately following the Consummation Date as energgy forth in the notice.
RogersChief Executive Officer and Chairman. In accordance with the terms of the Trust Agreement, we hereby authorize you to inveestment liquidation of the Trust Account.
Upon the payment to the Designated Paying Agent of all the funds in the Trust Account, the Trust Agreement shall terminate in accordance with the terms thereof. The Company needs such funds to pay for the income tax obligations as set forth on the attached tax return or tax statement. Green Energy Acquisition Corporation. The Company needs such funds to pay its expenses relating to investigating and selecting a target business and ibvestment working enfrgy requirements. Table of Contents 1.
Agreements and Covenants of Trustee 2. Limited Distributions of Income from Trust Account 3. Agreements and Covenants of the Company 4. Limitations of Liability 5. Termination 6.
Name: Title:. Name: Wayne L. Wayne L.
Investments to date under the GEIA have resulted in the opening of four manufacturing plants across eenergy province and are creating direct renewable energy manufacturing jobs. The HESOP Expansion Stream provides an opportunity for existing waterpower facilities to expand their hydroelectric generation capacity. The local manufacturing jobs green energy investment agreement samsung Siemens in Tillsonburg remain a vital part of this project. The Ontario government is not a counterparty to FIT contracts and has no authority regarding contractual matters. Ministry of Energy, Northern Development and Mines. Detailed information on the approval status of individual renewable energy projects can be found on the Ontario Environmental Registry. Revisions to the GEIA in were made in the interests of local communities and ratepayers. Following the introduction of the Feed-in Tariff FIT program in falla total of electricity contracts for large renewable energy projects greater than kW were offered to developers in and As has been the case since the start of our projects, we will continue to work within the regulatory process in partnership with the government. Revisions have also ensured that job commitments are protected and that Municipal Council Support Resolutions are obtained for one existing Phase Two project and any new projects under the third and final phase of the agreement. All projects have per cent municipal ownership. For more information on the MNRF’s requirementsplease see the greem.
Comments
Post a Comment