Common use of Qualified Decommissioning Funds Clause in Contracts

Qualified Decommissioning Funds. (a) Seller's Qualified Decommissioning Funds are held in a trust validly existing and in good standing under the laws of the State of Texas with all requisite authority to conduct its affairs as it now does, subject to applicable regulatory requirements. Seller has heretofore delivered to each Purchaser a copy of the trust agreement that governs Seller's Qualified Decommissioning Funds as in effect on the date of this Agreement. Seller's Qualified Decommissioning Funds satisfy the requirements necessary for them to be treated as "Nuclear Decommissioning Reserve Funds" within the meaning of Code Section 468A(a) and as "nuclear decommissioning funds" and "qualified nuclear decommissioning funds" within the meaning of Treas. Reg. ss. 1.468A-1(b)(3). Seller's Qualified Decommissioning Funds are in compliance in all material respects with all applicable rules and regulations of the NRC, the PUCT and the IRS, and Seller's Qualified Decommissioning Funds have not engaged in any acts of "self-dealing" as defined in Treas. Reg. ss. 1.468A-5(b)(2). No "excess contribution," as defined in Treas. Reg. ss. 1.468A-5(c)(2)(ii), has been made to Seller's Qualified Decommissioning Funds that has not been withdrawn within the period provided under Treas. Reg. ss. 1.468A-5(c)(2)(i). Seller has made timely and valid elections to make monthly contributions to Seller's Qualified Decommissioning Funds since the date of the creation of Seller's Qualified Decommissioning Funds.

Qualified Decommissioning Funds. (a) With respect to all periods prior to the Closing Date: (i) each Seller's Qualified Decommissioning Funds are held in Fund is a trust trust, validly existing and in good standing under the laws of the State of Texas New York with all requisite authority to conduct its affairs as it now does, subject to applicable regulatory requirements. Seller has heretofore delivered to ; (ii) each Purchaser a copy of the trust agreement that governs Seller's Qualified Decommissioning Funds as in effect on the date of this Agreement. Seller's Qualified Decommissioning Funds satisfy Fund satisfies the requirements necessary for them such Fund to be treated as a "Nuclear Decommissioning Reserve FundsFund" within the meaning of Code Section 468A(a) and as a "nuclear decommissioning fundsDecommissioning Fund" and a "qualified nuclear decommissioning fundsDecommissioning Fund" within the meaning of Treas. Reg. ss. section 1.468A-1(b)(3). Seller's Qualified Decommissioning Funds are ; (iii) such Fund is in compliance in all material respects with all applicable rules and regulations of the NRC, the PUCT NYPSC and the IRS, and each Seller's Qualified Decommissioning Funds have Fund has not engaged in any acts of "self-dealing" as defined in Treas. Reg. ss. section 1.468A-5(b)(2). No ; (iv) no "excess contribution," as defined in Treas. Reg. ss. section 1.468A-5(c)(2)(ii), has been made to each Seller's Qualified Decommissioning Funds that Fund which has not been withdrawn within the period provided under Treas. Reg. ss. section 1.468A-5(c)(2)(i). ; and (v) each Seller has made timely and valid elections to make monthly annual contributions to the Qualified Decommissioning Fund since 1984 and each Seller has heretofore delivered copies of such elections to Buyer. Each Seller has heretofore delivered to Buyer a copy of each Seller's Qualified Decommissioning Funds since Trust Agreement as in effect on the date of the creation of this Agreement. Each Seller agrees not to amend Seller's Qualified Decommissioning FundsTrust Agreement between the date of this Agreement and the Closing Date without Buyer's prior written consent, which shall not be unreasonably withheld, except to permit the transfer referred to in Section 6.12(a).

Qualified Decommissioning Funds. (a) With respect to all periods prior to the Closing Date: (i) Seller's Qualified Decommissioning Funds are held in Fund is a trust trust, validly existing and in good standing under the laws of the State of Texas New York with all requisite authority to conduct its affairs as it now does, subject to applicable regulatory requirements. Seller has heretofore delivered to each Purchaser a copy of the trust agreement that governs ; (ii) Seller's Qualified Decommissioning Funds as in effect on the date of this Agreement. Seller's Qualified Decommissioning Funds satisfy Fund satisfies the requirements necessary for them such Fund to be treated as a "Nuclear Decommissioning Reserve FundsFund" within the meaning of Code Section 468A(a) and as a "nuclear decommissioning fundsDecommissioning Fund" and a "qualified nuclear decommissioning fundsDecommissioning Fund" within the meaning of Treas. Reg. ss. 1.468A-1(b)(3). Seller's Qualified Decommissioning Funds are ; (iii) such Fund is in compliance in all material respects with all applicable rules and regulations of the NRC, the PUCT NYPSC and the IRS, and Seller's Qualified Decommissioning Funds have Fund has not engaged in any acts of "self-dealing" as defined in Treas. Reg. ss. 1.468A-5(b)(2). No ; (iv) no "excess contribution," as defined in Treas. Reg. ss. 1.468A-5(c)(2)(ii), has been made to Seller's Qualified Decommissioning Funds that Fund which has not been withdrawn within the period provided under Treas. Reg. ss. 1.468A-5(c)(2)(i1.468A-5(c) (2)(i). ; and (v) Seller has made timely and valid elections to make monthly annual contributions to the Qualified Decommissioning Fund since 1984 and Seller has heretofore delivered copies of such elections to Buyer. Seller has heretofore delivered to Buyer a copy of Seller's Qualified Decommissioning Funds since Trust Agreement as in effect on the date of the creation of this Agreement. Seller agrees not to amend Seller's Qualified Decommissioning FundsTrust Agreement between the date of this Agreement and the Closing Date without Buyer's prior written consent, which shall not be unreasonably withheld, except to permit the transfer referred to in Section 6.12(a).

Qualified Decommissioning Funds. (a) With respect to all periods prior to the Closing Date: (i) each Seller's Qualified Decommissioning Funds are held in Fund is a trust trust, validly existing and in good standing under the laws of the State of Texas New York with all requisite authority to conduct its affairs as it now does, subject to applicable regulatory requirements. Seller has heretofore delivered to ; (ii) each Purchaser a copy of the trust agreement that governs Seller's Qualified Decommissioning Funds as in effect on the date of this Agreement. Seller's Qualified Decommissioning Funds satisfy Fund satisfies the requirements necessary for them such Fund to be treated as a "Nuclear Decommissioning Reserve FundsFund" within the meaning of Code Section 468A(a) and as a "nuclear decommissioning fundsDecommissioning Fund" and a "qualified nuclear decommissioning fundsDecommissioning Fund" within the meaning of Treas. Reg. ss. Section 1.468A-1(b)(3). Seller's Qualified Decommissioning Funds are ; (iii) such Fund is in compliance in all material respects with all applicable rules and regulations of the NRC, the PUCT NYPSC and the IRS, and each Seller's Qualified Decommissioning Funds have Fund has not engaged in any acts of "self-dealing" as defined in Treas. Reg. ss. 1.468A-5(b)(2Section 1.468A- 5(b)(2). No ; (iv) no "excess contribution," as defined in Treas. Reg. ss. 1.468A-5(c)(2)(iiSection 1.468A- 5(c)(2)(ii), has been made to each Seller's Qualified Decommissioning Funds that Fund which has not been withdrawn within the period provided under Treas. Reg. ss. 1.468A-5(c)(2)(iSection 1.468A- 5(c)(2)(i). ; and (v) each Seller has made timely and valid elections to make monthly annual contributions to the Qualified Decommissioning Fund since 1984 and each Seller has heretofore delivered copies of such elections to Buyer. Each Seller has heretofore delivered to Buyer a copy of each Seller's Qualified Decommissioning Funds since Trust Agreement as in effect on the date of the creation of this Agreement. Each Seller agrees not to amend Seller's Qualified Decommissioning FundsTrust Agreement between the date of this Agreement and the Closing Date without Buyer's prior written consent, which shall not be unreasonably withheld, except to permit the transfer referred to in Section 6.12(a).

Qualified Decommissioning Funds. (a) With respect to all periods prior to the Closing Date: (i) each Seller's Qualified Decommissioning Funds are held in Fund is a trust trust, validly existing and in good standing under the laws of the State of Texas New York with all requisite authority to conduct its affairs as it now does, subject to applicable regulatory requirements. Seller has heretofore delivered to ; (ii) each Purchaser a copy of the trust agreement that governs Seller's ’s Qualified Decommissioning Funds as in effect on the date of this Agreement. Seller's Qualified Decommissioning Funds satisfy Fund satisfies the requirements necessary for them such Fund to be treated as "a “Nuclear Decommissioning Reserve Funds" Fund” within the meaning of Code Section 468A(a) and as "a “nuclear decommissioning funds" Decommissioning Fund” and "a “qualified nuclear decommissioning funds" Decommissioning Fund” within the meaning of Treas. Reg. ss. 1.468A-1(b)(3Reg.ss.1.468A-1(b)(3). Seller's Qualified Decommissioning Funds are ; (iii) such Fund is in compliance in all material respects with all applicable rules and regulations of the NRC, the PUCT NYPSC and the IRS, and each Seller's ’s Qualified Decommissioning Funds have Fund has not engaged in any acts of "“self-dealing" ” as defined in Treas. Reg. ss. 1.468A-5(b)(2Reg.ss.1.468A-5(b)(2). No "; (iv) no “excess contribution," ” as defined in Treas. Reg. ss. 1.468A-5(c)(2)(iiReg.ss.1.468A-5(c)(2)(ii), has been made to each Seller's ’s Qualified Decommissioning Funds that Fund which has not been withdrawn within the period provided under Treas. Reg. ss. 1.468A-5(c)(2)(iReg.ss.1.468A-5(c)(2)(i). ; and (v) each Seller has made timely and valid elections to make monthly annual contributions to the Qualified Decommissioning Fund since 1984 and each Seller has heretofore delivered copies of such elections to Buyer. Each Seller has heretofore delivered to Buyer a copy of each Seller's Qualified Decommissioning Funds since Trust Agreement as in effect on the date of the creation of this Agreement. Each Seller agrees not to amend Seller's Qualified Decommissioning FundsTrust Agreement between the date of this Agreement and the Closing Date without Buyer’s prior written consent, which shall not be unreasonably withheld, except to permit the transfer referred to in Section 6.12(a).