DPUC Approval Clause Samples
DPUC Approval. Notwithstanding any provision of this Agreement to the contrary, Seller=s obligation to sell the Subject Property hereunder is contingent upon Seller obtaining Final Approval from the DPUC (which approval shall become "Final" only upon the expiration of the applicable appeal periods without any appeal having been filed or served), for the sale of the Subject Property to the Buyer pursuant to Section 16-43 of the Connecticut General Statutes, and upon final approval by the DPUC, as defined above, of a ratemaking accounting treatment for the net gain from such sale reasonably satisfactory to Seller. For the purposes of this Agreement, "reasonably satisfactory" shall mean comparable to ratemaking accounting treatments approved by DPUC on comparable pending or completed sales of other land owned or sold by Seller. Such satisfaction shall be deemed to have been obtained if the Seller does not notify the Buyer to the contrary in writing within five (5) business days after the DPUC's final approval of the sale and ratemaking accounting treatment. Seller agrees to submit this Agreement to the DPUC for approval within 35 days after publishing notice of its intention to sell in accordance with Section 16-50c(b)(2) of the Connecticut General Statutes, to diligently pursue such application and to supply to Buyer copies of all appraisals of the fair market value of the Premises obtained by Seller to be submitted to the DPUC in connection with Seller's application for approval. If Seller shall not have received such Final approval by June 26, 2000 Seller shall have the option to terminate this Agreement and return the Deposits to Buyer in which event the obligations of the parties hereunder shall terminate and come to an end. Under such termination, the Deposits shall be retained by Seller or returned to Buyer in accordance with the provisions of Paragraph 4, herein.
DPUC Approval. For the avoidance of doubt, notwithstanding anything to the contrary in this Agreement, the effectiveness of this Agreement concerning any and all matters regarding UI Investments and the transfer of UI Assets is subject to final, non-appealable DPUC approval of the Transaction on or before December 31, 2010, on terms and conditions acceptable to each Party in their respective sole discretion exercised in good faith.
DPUC Approval. This Agreement and the purchase and sale transaction contemplated hereby shall have been approved by the DPUC in form and substance satisfactory to the Buyer in its reasonably exercised judgment. Without limiting the generality of the foregoing, such approval shall include a ruling by the DPUC that the Purchase Price paid by the Buyer to the Shareholders for the EAC Common Stock is a prudent investment, that the purchase and sale transaction contemplated hereby is in the best interest of ratepayers of both EAC and the Buyer and that the entire Purchase Price will be recognized in the Buyer’s rate base at the time of the Buyer’s next general rate case (meaning that the Buyer will be allowed to earn a return on the Purchase Price and will be allowed to depreciate the investment in each case in the same manner as other investments in plant), such ruling not to include any conditions that adversely affect the rate or regulatory treatment of the Buyer.
DPUC Approval. This Agreement and the other transactions contemplated hereby shall have been approved by the DPUC.
DPUC Approval. The Company agrees to comply in all material respects with all orders of the DPUC set forth in the December 19, 1990 Decision of the DPUC (Docket No. 90-12-02) approving the issuance and sale of the Notes.