Common use of REGULATORY EVENT Clause in Contracts

REGULATORY EVENT. A change in a Governmental Rule by a Governmental Authority, including without limitation the Local Distributor’s tariffs, market rules, operating protocols and definitions, that have a material effect on the services and transactions contemplated by this ESA. A “change” as used herein includes without limitation any amendment, modification, nullification, suspension, repeal, finding of unconstitutionality or unlawfulness, or any change in construction or interpretation.

REGULATORY EVENT. A change in a Governmental Rule by a Governmental Authority, including without limitation the Local Distributor’s tariffs, market rules, operating protocols and definitions, that have a material effect on the services and transactions contemplated by this ESA. A “change” as used herein includes without limitation any amendment, modification, nullification, suspension, repeal, finding of unconstitutionality or unlawfulness, or any change in construction construction, application or interpretation.