Examples of Prepaid Agreement in a sentence
Any such assignment must be proposed and agreed to pursuant to Exhibit I and the Prepaid Agreement.
Each Party shall have the right, including on TEAC’s part pursuant to a request by Prepay LLC under the Prepaid Agreement, at its own expense, to examine and audit at any reasonable time the books, records, measurement data, charts, and telemetry data of the other Party to the extent, but only to the extent, necessary to verify the accuracy of any statements or charges made under or pursuant to this Agreement.
TEAC shall provide Purchaser the opportunity to offer its recommendations and other input to TEAC for TEAC’s use in the process under Section 18.11 of the Prepaid Agreement.
Purchaser acknowledges and agrees that TEAC will meet its obligations to provide Gas supply service to Purchaser under this Agreement through its purchase of long-term Gas supplies on a prepaid basis from Prepay LLC under the Prepaid Agreement and that TEAC is financing its purchase of such long-term supplies through the issuance of the Bonds.
If Inside FERC’s Gas Market Report should cease to publish such first-of-the-month index prices or should cease to be published entirely, the Index Price shall be the price per MMBtu, stated in U.S. dollars, for Gas to be delivered at the Delivery Point during the applicable Month as set forth in an alternative index as determined under Section 18.11 of the Prepaid Agreement.
TEAC shall credit to Purchaser’s account any net revenues TEAC may receive from Prepay LLC under the Prepaid Agreement in connection with the ultimate sale of any such Gas by Prepay LLC to other Municipal Utilities, up to the Contract Price, less the Supply Administration Fee, less TEAC’s remarketing administrative charge of three cents ($0.03) per MMBtu.
Notwithstanding the foregoing, the Parties recognize and agree that the pricing specified in Section 5.2 shall apply to any Gas deliveries made by TEAC following a Failed Remarketing under the Prepaid Agreement.
If TEAC is satisfied that such loss of demand is permanent, through evidence satisfactory to TEAC in its sole discretion, TEAC shall use reasonable efforts to pursue the re- allocation Purchaser’s Daily Contract Quantities associated with its loss of demand to other Project Participants or through remarketing under the provisions of the Prepaid Agreement, and upon such re-allocation, shall reduce Purchaser’s Daily Contract Quantities through the remaining term of this Agreement accordingly.
Notwithstanding Section 5.1, Purchaser acknowledges and agrees that (i) in the event the Prepaid Agreement terminates prior to the end of the primary term of this Agreement, this Agreement shall terminate on the date of early termination of the Prepaid Agreement (subject to all winding up arrangements) and (ii) TEAC’s obligation to deliver Gas under this Agreement shall terminate upon the termination of deliveries of Gas to TEAC under the Prepaid Agreement.