Service Plan Summary
This summary is designed for Service Plan customers to understand the terms of the Service Plan and Installation Agreement.
The Service Plan and Installation Agreement (“Service Plan”) is a contract that allows a provider of energy services (“Provider”) to sell energy services to customers via installation and management of efficient technology or controls systems (the “Technology”).
The Service Plan lays out the terms and conditions under which the Provider (in coordination with a licensed contractor, an “Installer”) is held to the achievement of specific performance metrics or energy reductions as defined in the contract, and the Customer makes monthly “Service Payments” in exchange. The Provider and Customer will sign a “Project Addendum” to the
Service Plan for each individual “Project” completed together.
Below is a brief summary of the terms of the Service Plan:
Installer will install the Technology (including software and hardware) at the Customer’s location.
When the installation has been completed, the Customer will inspect the work site to ensure that the installation is satisfactory. The Customer is required to document any issues with the installation, and Customer and Provider will work together to remedy. The Customer and Provider will both execute a certificate of acceptance to indicate successful installation, commencing the “Service Term.” The first Service Payment will be due one month later.
Servicing & Payment
During the Service Term, the Installer will provide services to the Customer, which may include achievement of specific performance outcomes from the upgrade of installed technology, where the Installer may provide maintenance, monitoring or measurement of
technology capacity to demonstrate achievement of those services. Services will be explicitly defined in the Project Addendum. The Service Payments will be collected monthly through the Service Term via automatic debit from the Customer’s provided bank account.
The Provider or the financier maintains ownership and title to the Technology for the Service Term and will file a precautionary UCC filing on the Technology (not the real estate).
End of Term Options
At the end of the initial Service Term, the Customer may elect one of the following options:
1. Extend the Service Term at a discounted rate
2. Enter into a new Project Addendum in which Installer will install and service new energy savings equipment
3. Provider will abandon equipment providing Customer ownership of existing equipment