Energy Regulation. (a) The Borrower and any Subsidiary Guarantor that is a holding company as such term is defined in PUHCA is exempt in accordance with 18 CFR § 366.3 from the accounting, record-retention and reporting requirements of PUHCA.
Energy Regulation. The Borrower and its Subsidiaries are in compliance with the Public Utility Holding Company Act of 2005 and the implementing regulations of the Federal Energy Regulatory Commission (“FERC”), as amended from time to time (together, “PUHCA 2005”), and consummation of the transactions contemplated by this Agreement and the other Loan Documents will not cause the Borrower or its Subsidiaries to cease to be in compliance with PUHCA 2005, except where any such non-compliance would not reasonably be expected to have a Material Adverse Effect.
Energy Regulation. As of the Closing Date:
Energy Regulation. The Company will take or cause to be taken all necessary or appropriate actions so that it (a) will be authorized by FERC to sell at wholesale electric energy, capacity and, to the extent applicable, ancillary services at market-based rates with all waivers of regulations and blanket authorizations as are customarily granted by FERC to entities authorized to sell electricity at wholesale at market-based rates, in each case to the extent such authorization is required for the Company to sell electricity at wholesale at market-based rates in accordance with all Applicable Law and (b) maintains EWG status pursuant to PUHCA.
Energy Regulation. (a) Except for regulation by FERC under FPA, PUHCA (as an exempt holding company) and PURPA, or, in the case of Independence, lightened regulation as an electric corporation and lightened and incidental regulation as a steam corporation by the New York Public Service Commission, none of Intermediate Holdings, the Borrower or any Subsidiary is subject to regulation as a public utility holding company, public utility or public service company (or similar designation) by any Governmental Authority.
Energy Regulation. (a) The Borrower is not deemed by any Governmental Authority to be subject to financial, organizational or rate regulation as an “electric utility,” “electric corporation,” “electrical company,” “gas utility,” “steam company,” “steam utility,” “public-utility company,” “public utility” or “holding company,” “water utility,” “public service company” or similar entity under any law of the United States, any state or any political subdivision of the United States or any state, as such laws exist as of the Restatement Date, except that the Borrower (i) is a “public utility” and an “electric utility” under the FPA that has been granted market-based rate authorization by FERC under the FPA and an Exempt Wholesale Generator as defined in PUHCA 2005, and is subject to regulation under the FPA, and (ii) may be a “public-utility holding company” and an “electric utility company” under PUHCA 2005, and (iii) is a “public utility” under the Pennsylvania state public utility law, and may be subject to regulation under the Pennsylvania state law as a “public utility”, except as to the rates, terms and conditions of wholesale power sales from the Project which rates, terms and conditions are not themselves subject to regulation under Pennsylvania state public utility law (as such law is interpreted and applied by applicable judicial and administrative bodies).
Energy Regulation. (a) As of the Closing Date, the Borrower is in compliance in all material respects with the FPA and PUHCA 2005 and all Governmental Rules with respect to the ownership, operation, Control and sale of electricity from the Project.
Energy Regulation. (a) The Borrower shall obtain market-based rate authority under Section 205 of the FPA and blanket approval to issue securities under Section 204 of the FPA from the FERC in a final and binding order no longer subject to rehearing or appeal prior to the earlier of (i) September 1, 2007 (or, so long as the Borrower has properly filed all necessary applications with the FERC for the procurement of market-based rate authority by June 1, 2007 and, thereafter, is diligently pursuing the obtainment of market-based rate authority, then December 1, 2007) and (ii) the date the Project generates any electric energy, including for any testing prior to the Commercial Operation Date.
Energy Regulation. The Borrower shall take or cause to be taken all necessary or appropriate actions so that (a) it has MBR Authority and (b) it maintains its EWG status.
Energy Regulation. Seller shall, prior to the Closing Date, take all action necessary to ensure that by acquiring the Hydroelectric Facility and the Steam Turbine Facilities and assuming under this Agreement the Project Agreement between Potlach Corporation and Minnesota Power, Inc. dated July 31, 2000 (including attachments) ("Project Agreement") or any rights and obligations under Power Agreements or any Revised Power Agreements, and performing under the Hydroelectric Facility Contracts and the Steam Turbine Contracts, Purchaser shall not become subject to regulation by the FERC under Part II of the FPA, except as provided in 18 C.F.R. Part 292, Subpart F of the FERC regulations, or subject to regulation by the Securities and Exchange Commission ("SEC") as an "electric utility company", "holding company" or "subsidiary company" under PUHCA, 15 U.S.C. § 79 et seq. ARTICLE VI
