Common use of Basic Understanding Clause in Contracts

Basic Understanding. Under the Cooperative’s Restructuring Settlement Agreement approved by the New Hampshire Public Utilities Commission (“NHPUC”) by Order No. 23,013 (Sept. 8, 1998) in Docket No. DR 98-097 and by Order No. 23,713 (May. 31, 2001) in Docket No. DR 01-038 approving Default Service Filing the Interim Procedures Establishing Registration Requirements for Governing Retail access (“Interim Procedures”) as approved; and applicable regulations of the NHPUC, the Cooperative has the authority and obligation to perform certain services for Competitive Energy Suppliers of electricity. In order to delineate their respective rights and obligations, the Cooperative and the Supplier enter into this Agreement regarding the provision of such services, and the Cooperative agrees to provide services to the Supplier in accordance with the terms hereunder. This form of Agreement has been developed for use between the Cooperative and Competitive Energy Suppliers, and may not be waived, altered, amended, or modified, except as provided herein. Appendices A and B, attached hereto and incorporated herein by reference, include additional terms which are a part of this Agreement.