Section 810-RICR-40-05-1.5 - Long-Term Contracts RequirementsA. Long-Term Contracts shall contain provisions and terms to address the features and risks that are unique to the purchase of Newly Developed Renewable Energy Resources. Such terms shall include the following:1. Definitions particular to energy, capacity, and renewable energy certificate transactions;2. Purchase and sale of energy, capacity and/or renewable energy certificates;4. Representations and warranties of the parties;5. Obligations of the parties;6. Relationship of the parties;7. Non-performance, and Remedies;9. Term, termination and waiver;10. Binding milestones and associated remedies;11. Credit and Collateral, if any appropriate to the nature of the project including subordination of interests to project lenders;12. Additional agreements conforming to the nature of the transaction;B. All approved projects, regardless of their location, shall provide other direct economic benefits to the State of Rhode Island, such as job creation, increased property tax revenues or other similar revenues deemed substantial by the Commission as determined on a case-by-case basis. In reviewing the responses to each solicitation, the Electric Distribution Company shall conduct an analysis of the value of the respective direct economic benefits to the State of Rhode Island in relation to the cost under the contract.C. All Long-Term Contracts shall contain provisions which allow the Electric Distribution Company to terminate, without penalty to the Electric Distribution Company, the contract after three (3) years of execution should the Electric Distribution Company or the Commission determine that material progress on the project is not being made, as determined by evaluating the success in meeting milestones in the contract. In the event a Long-Term contract is so terminated, the Electric Distribution Company will not be found non-compliant with this regulation because of the termination, and it shall be required to make additional annual solicitation and enter into additional Long-Term Contracts in order to replace the energy, capacity and/or NEPOOL GIS Certificates lost as a result of the termination.D. In the event the Electric Distribution Company receives responses to its solicitations that would result in Commercially Reasonable contracts in excess of the annual obligation set forth in § 1.4(B) of this Part, the Electric Distribution Company shall provide an analysis of the value of the respective direct economic benefits to the State of Rhode Island including the benefit of stabilizing rates for its customers, in relation to the cost under the contract to determine which contracts to execute.E. A copy of each executed Long-Term Contract between the Electric Distribution Company and the Renewable Energy Developer shall be filed with the Commission in its entirety. The entire contract shall be a public document.810 R.I. Code R. 810-RICR-40-05-1.5