FERC Orders Clause Samples
The FERC Orders clause defines how the parties to an agreement will address and comply with orders, rules, or directives issued by the Federal Energy Regulatory Commission (FERC). Typically, this clause outlines the obligations of each party to adhere to FERC requirements, and may specify procedures for responding to changes in regulatory requirements, such as modifying contract terms or operations to remain in compliance. Its core practical function is to ensure that the agreement remains valid and enforceable under evolving federal energy regulations, thereby reducing legal and regulatory risk for both parties.
FERC Orders. 17 FERC Part 2 Order ...................... 18 FERC Section 203 Order ................. 18 FERC Section 205 Order ................. 18
FERC Orders. The Company, Wind LLC and each subsidiary is in compliance in all material respects with the terms and conditions of all orders issued by FERC under Sections 203, 204 and 205 of the FPA with respect to the Company, Wind LLC and each subsidiary.
FERC Orders. Seller shall have obtained the orders or approvals referenced in Section 7.5, above. Buyer shall have received from the Commission final orders no longer subject to rehearing on all issues regarding Buyer’s Declaratory Orderpeitition, including an order declaring that the Assets, in Buyer’s ownership and possession after Closing will not be subject to the jurisdiction of the FERC under the Natural Gas Act, and such orders shall not contain any condition or provision that is unacceptable to Buyer, in its sole discretion. ARTICLE 9ARTICLE 9
FERC Orders. The FERC Orders are in full force and effect, except as could not reasonably be expected to have a Material Adverse Effect.