Decommissioning Funds. (a) (i) Between the date hereof and the Closing Date, each Seller will make additional cash deposits from time to time to its Qualified Decommissioning Fund and its Nonqualified Decommissioning Fund such that, on the Closing Date Sellers shall have accumulated assets in the Decommissioning Funds equal to the Qualified Target, calculated on a Net Cash Value basis, in the Qualified Decommissioning Funds and the Nonqualified Target in the Nonqualified Decommissioning Fund.
Decommissioning Funds. (a) At the Closing, Seller will direct the trustee and investment managers of Seller's Qualified Decommissioning Funds for the Peach Bottom Station to transfer one-half of each asset in such funds to the respective trustee of each Buyers' Qualified Decommissioning Funds for the Peach Bottom Station; provided, however, that, upon the written request of the trustee of Seller's Qualified Decommissioning Funds, Buyers shall cause the trustee of the Buyers' Qualified Decommissioning Funds to reimburse promptly, but in no event later than thirty (30) days after such notice (with respect to expenses) and the due date (with respect to income taxes), the trustee of Seller's Qualified Decommissioning Funds for expenses associated with the transfer of the assets and the termination of such funds and any related income taxes due with respect to such funds for the period prior to Closing. To the extent that the trustee and investment managers of Seller's Qualified Decommissioning Funds are unable to divide an asset in such fund in half, the trustee of such funds shall liquidate such asset and transfer one-half of the proceeds to the respective trustee of each Buyers' Qualified Decommissioning Funds for the Peach Bottom Station. If Buyers do not obtain a private letter ruling from the Internal Revenue Service determining that the transfer of Seller's Qualified Decommissioning Funds to Buyers' Qualified Decommissioning Funds of any Buyer satisfies the requirements of Treas. Reg. Section 1.468A-6(b)
Decommissioning Funds. 67 6.19.1 Beaver Valley Unit 1 Decommissiong Funds................ 67 6.19.2 Beaver Valley Unit 2 Decommissiong Funds................ 70 6.19.3 Perry Xxxx 0 Decommissioning Funds...................... 73 6.20 Employee Morale......................................... 75 6.21 Beaver Valley Omnibus Services Agrement and Related Easements............................................... 75 ARTICLE VII CONDITIONS............................................................. 76 7.1 Conditions to Obligations of the Parties................ 76 7.2 Conditions to Obligations of DLC........................ 76 7.3 Conditions to Obligations of Specified FE Subsidiaries.. 78
Decommissioning Funds. (a) Between the Effective Date and the Closing Date, Seller shall continue to make cash deposits to Seller's Qualified Decommissioning Funds or Seller's Non-Qualified Decommissioning Funds of amounts of decommissioning costs collected from customers as determined by the PUCT or FERC, and Seller shall not withdraw any funds (except for expenses described in Code Section 468A(e)(4)(B)) from Seller's Qualified Decommissioning Funds or Seller's Non-Qualified Decommissioning Funds.
Decommissioning Funds. 65 7.10 Amendment to Seller's Agreements.....................................67 7.11 Exclusivity..........................................................67 7.12 Insurance............................................................68
Decommissioning Funds. 11.12.1. Between the date hereof and the Closing, Seller will make such deposits from time to time to its QDF and its NDF of the amounts of Decommissioning costs, if any, collected from customers as determined by the ICC; provided, however, that any such deposits to the QDF shall not exceed the maximum amounts permitted to be contributed to the QDF under Code Section 468A and any tax ruling issued to Seller by the IRS.
Decommissioning Funds. 6.13.1 On or before the Closing Date, (a) Sellers shall establish the NDF Trust Agreement for the NDF and (b) Sellers and Buyer shall reasonably cooperate with respect to, and Buyer shall enter into, an Investment Management Agreement with NISA Investment Advisors, LLC, or with another investment management firm mutually agreed between Sellers and Buyer. Sellers shall not materially amend (but may assign as expressly contemplated therein) the NDF Trust Agreement at any time before or after the Closing Date without the prior written consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed. Buyer shall not materially amend the Investment Management Agreement at any time before the Closing Date. Prior to the Closing Date, Sellers will create and maintain the NDF in accordance with NRC requirements and fund the NDF in the amount of the NDF Minimum Amount. GE will obtain Xxxxx’s written consent to the pre-Closing assets purchased by the NDF, and except as otherwise agreed by Xxxxx in writing, all material assets of the NDF at the close of business on the day before the Closing will constitute property other than cash (or other Class I assets as defined by Xxxxx. Reg. section 1.338-6(b)(1)). Sellers shall deliver to Buyer prior to the Closing a brokerage or other third-party custodian’s statement of assets of the NDF as of a recent date prior to the Closing, which were purchased pursuant to Buyer’s direction pursuant to this Section 6.13.1.
Decommissioning Funds. (a) Between the date hereof and the Closing Date, Sellers will make additional cash deposits from time to time to the Qualified Decommissioning Funds and the Nonqualified Decommissioning Funds such that, on the Closing Date, Sellers shall have accumulated assets in the Decommissioning Funds with an aggregate Fair Market Value of $320 million ("Total FMV"). Between the date hereof and the Closing Date, Sellers shall make additional cash deposits to the Qualified Decommissioning Funds equal to as much of the Total FMV as is eligible to be contributed during such period to the Qualified Decommissioning Funds under Code section 468A and applicable Treasury Regulations as they exist on the Closing Date. On or before the Closing Date, Sellers shall make additional cash deposits to the Nonqualified Decommissioning Funds such that the aggregate Fair Market Value of the assets of the Nonqualified Decommissioning Funds equals the difference between the Total FMV and the aggregate Fair Market Value of the assets of the Qualified Decommissioning Funds. To the extent that the aggregate Fair Market Value of the assets of the Qualified Decommissioning Funds as of the Closing Date is greater than $260 million, Sellers' required Fair Market Value asset accumulation to be contained in the Non-Qualified Decommissioning Fund of $60 million (such that the Total FMV equals $320 million) shall be decreased by $1.14 for every additional dollar that the Qualified Decommissioning Fund is above $260 million. To the extent that the aggregate Fair Market Value of the assets of the Qualified Decommissioning Funds as of the Closing Date is less than $138 million, Sellers' required Fair Market Value asset accumulation to be contained in the Non-Qualified Decommissioning Fund of $182 million (such that the Total FMV equals $320 million) shall be increased by $1.14 for every additional dollar that the Qualified Decommissioning Fund is below $138 million. In the event the Closing Date occurs other than on December 31, 1999, the Total FMV and the respective amounts of each Decommissioning Fund shall be adjusted up or down as the case may be using an annual after-tax, net of expenses, rate of return of four percent (4%). 71
Decommissioning Funds. 5.7.1 For all periods prior to the Put Option Closing Date, ZionSolutions will maintain the Buyer QDF in accordance with NRC requirements and in compliance with the requirements of Section 468A of the Code and the Treasury Regulations. On the Put Option Closing Date or as promptly as reasonably possible thereafter, ZionSolutions shall cause to be transferred to either a QDF or NDF established by Exelon, as directed by Exelon, all of the assets of the Buyer QDF. In the event that any funds remain in the Buyer NDF, such funds shall be transferred to an NDF established by Exelon.
Decommissioning Funds. 5.7.1 For all periods prior to the Put Option Closing Date, Zion Solutions will maintain the Buyer QDF in accordance with NRC requirements and in compliance with the requirements of Section 468A of the Code and the Treasury Regulations. On the Put Option Closing Date, Zion Solutions shall cause to be transferred to either a QDF or NDF established by Exelon, as directed by Exelon, all of the assets of the Buyer QDF. In the event that any funds remain in the Buyer NDF, such funds shall be transferred to an NDF established by Exelon.
