Initiation by Seller Clause Samples
The 'Initiation by Seller' clause defines the seller's right or obligation to commence a particular process or transaction under the agreement. Typically, this clause outlines the specific actions the seller must take to formally begin the transaction, such as providing notice to the buyer, submitting required documentation, or fulfilling certain preconditions. By clearly establishing when and how the seller can initiate proceedings, this clause ensures both parties are aware of the procedural steps and timing, thereby reducing uncertainty and facilitating a smooth start to the contractual relationship.
Initiation by Seller. If Seller suspends, or can reasonably anticipate the need to suspend or substantially reduce, deliveries of electric energy below the level called for by Company Dispatch pursuant to Section 3.3(A) (Dispatch of Facility Power) for any reason other than a request by Company pursuant to Section 4.1 (Initiation by Company), it shall provide immediate oral notice and subsequent written notice to Company as soon as practicable, containing a reasonably detailed statement of the reasons for such suspension or reduction and the likely duration thereof. Seller shall use commercially reasonable efforts to restore full deliveries of electric energy as soon as practicable. RATES FOR PURCHASE
Initiation by Seller. If SELLER suspends, or can reasonably anticipate the need to suspend or substantially reduce, deliveries of electricity below the level called for by HELCO Dispatch pursuant to Section 3.3A for any reason other than a request by HELCO pursuant to Section 4.1B, it shall provide immediate oral notice and subsequent written notice to HELCO as soon as practicable, containing a reasonably detailed statement of the reasons for such suspension or reduction and the likely duration thereof. SELLER shall use its reasonable best efforts to restore full deliveries of electricity as soon as practicable.