Common use of Refund Obligation Clause in Contracts

Refund Obligation. Each Participating TO, whether or not it is subject to the rate jurisdiction of the FERC under Section 205 and Section 206 of the Federal Power Act, shall make all refunds, adjustments to its Transmission Revenue Requirement, and adjustments to its TO Tariff and do all other things required of a Participating TO to implement any FERC order related to the CAISO Tariff, including any FERC order that requires the CAISO to make payment adjustments or pay refunds to, or receive prior period overpayments from, any Participating TO. All such refunds and adjustments shall be made, and all other actions taken, in accordance with the CAISO Tariff, unless the applicable FERC order requires otherwise. If, following the conditional acceptance or acceptance subject to refund of a Participating TO’s Transmission Revenue Requirement, FERC issues a final order that reduces that filed Transmission Revenue Requirement, such that the CAISO must make payment adjustments or pay refunds to, or receive prior period overpayments from, any Participating TO in excess of the Transmission Revenue Requirement approved in the final order, the CAISO may invoice settlement adjustment(s) to the Participating TO in the amounts to be adjusted or refunded pursuant to the final order.

Refund Obligation. Each Participating TO, whether or not it is subject to the rate jurisdiction of the FERC under Section 205 and Section 206 of the Federal Power Act, shall make all refunds, adjustments to its Transmission Revenue Requirement, and adjustments to its TO Tariff and do all other things required of a Participating TO to implement any FERC order related to the CAISO Tariff, including any FERC order that requires the CAISO to make payment adjustments or pay refunds to, or receive prior period overpayments from, any Participating TO. All such refunds and adjustments shall be made, and all other actions taken, in accordance with the CAISO Tariff, unless the applicable FERC order requires otherwise. If, following the conditional acceptance or acceptance subject to refund of a Participating TO’s Transmission Revenue Requirement, FERC issues a final order that reduces reducing that filed Transmission Revenue Requirement, such that Requirement and directs the CAISO must to make payment adjustments or pay refunds to, or receive prior period overpayments from, any Participating TO of amounts collected in excess of the Transmission Revenue Requirement approved in the final order, the CAISO may invoice settlement adjustment(s) to the Participating TO in the amounts to be adjusted or refunded pursuant to the final order.