Common use of Effective Date and Transition Provisions Clause in Contracts

Effective Date and Transition Provisions. These Bylaws shall become effective May 1, 2004 and remain in force thereafter as may be amended. These Bylaws hereby cancel and supersede SPP Bylaws dated June 24, 2003; provided, that these Bylaws do not relieve any Member from any financial obligation incurred thereunder. Binding obligations entered into by authority of Officers or the Board of Directors under these Bylaws are hereby assumed and confirmed as obligations of SPP under these Bylaws.