DPU Approval Clause Samples
The DPU Approval clause establishes that certain actions or agreements are contingent upon receiving approval from the Department of Public Utilities (DPU). In practice, this means that the parties cannot proceed with specific transactions, such as the transfer of utility assets or the implementation of new rates, until the DPU has formally reviewed and authorized the proposed actions. This clause ensures regulatory compliance and prevents parties from acting without the necessary governmental oversight, thereby reducing legal and operational risks associated with unapproved activities.
DPU Approval. The obligations of the Parties under this Amendment and Termination Agreement are conditioned upon and shall not become effective or binding until receipt by Buyer of approval of this Amendment and Termination Agreement by the Massachusetts Department of Public Utilities (the “DPU”), which approval shall be final and not subject to appeal or rehearing and shall be acceptable in form and substance to both Buyer and Seller, each in its sole discretion (“Final DPU Approval”). Buyer shall file a request that the DPU grant approval of this Amendment and Termination Agreement, together with an unredacted copy of this Amendment and Termination Agreement, within five (5) Business Days after the date hereof, and such filing shall include a request that the DPU approve this Amendment and Termination Agreement within thirty (30) days after such filing. Buyer and Seller consent to the filing of this entire Amendment and Termination Agreement with the DPU as a public, non-confidential document.
DPU Approval. The DPU Approval shall have occurred and all the terms ------------ and conditions of the DPU Approval shall be acceptable to Seller in its sole discretion.
DPU Approval. In the case of any Borrowing by Boston Gas, the Agent shall have received true copies for each Bank of any required order or orders of the DPU approving such Borrowing. Such approval shall be final and shall no longer be subject to appeal, shall be in full force and effect and shall be in form and substance reasonably satisfactory to the Agent and Special Counsel. In addition, the Agent shall have received a certificate of the Secretary of Boston Gas to the effect that there are no consents, approvals or licenses of any governmental or public regulatory authority required in connection with such Borrowing by Boston Gas that have not been obtained.