Statutory and Regulatory Changes. The procedures outlined in Article 6 are based on both statutory and regulatory provisions currently in force. Changes in such statutory and/or regulatory provisions will prevail. Each time a substantive change in statute or regulations occur, the Association President and the Superintendent or his designee shall meet to discuss the exact nature of the change and its impact on the collective bargaining agreement. Regardless of the outcome of such a meeting, compliance with the statute and/or regulation will occur immediately.
Statutory and Regulatory Changes. If during the Initial Term or a Renewal Period a change is made to any Laws or Nielsen Regulatory Requirements described in Section 14A.1(a), or a new Law or Nielsen Regulatory Requirement is implemented that affects any of the Parties’ rights and obligations regarding data protection and data privacy in this Agreement, TCS will comply with such changed or new Law or Nielsen Regulatory Requirement in accordance with the provisions of Section 20.8.
Statutory and Regulatory Changes. 18.1 The Parties recognize and hereby agree that if any federal, state or municipal government or regulatory authority, including, without limitation, the SCC, should for any reason enter an order, modify its rules, or take any action whatsoever, having the effect of disallowing DNCP the recovery from its customers of all or any portion of the payments for Dependable Capacity, Substitute Energy, and Net Electrical Output hereunder hereinafter referred to as the Disallowance (except where such disallowance is due to DNCP’s failure to seek recovery or comply with procedural requirements governing recovery of such costs), then: If the Disallowance occurs for payments made after the Effective Date, all future payments for NEO, Substitute Energy, and Dependable Capacity shall not exceed the amount unaffected by the Disallowance. Further, the Operator shall repay the full amount of the Disallowance with Interest by the later of (i) one year from the date of such Disallowance or (ii) the fourth anniversary of the Effective Date. The Parties obligate themselves to all good faith efforts to establish, if practicable, an appeal and overruling of the Disallowance or a superseding order, approval of modified rules or tariffs, or other action so as to allow timely resumption of full, or failing that, adjusted payments hereunder.
Statutory and Regulatory Changes. 18.1 The Parties recognize and hereby agree that if any federal, state or municipal government or regulatory authority, including, without limitation, the SCC, should for any reason enter an order, modify its rules, or take any action whatsoever, having the effect of disallowing North Carolina Power the recovery from its customers of all or any portion of the payments for Delivered Capacity and Net Electrical Output hereunder in excess of the energy and capacity prices established (notwithstanding any limitations on the size of the Facility) by the SCC pursuant to 18 C.F.R. 292.304(c) (currently represented by Schedule 19 POWER PURCHASES FROM COGENERATION AND SMALL POWER PRODUCTION QUALIFYING FACILITIES) and in effect for the period of disallowance, hereinafter referred to as the Disallowance (except where such disallowance is due to North Carolina Power’s failure to seek recovery or comply with procedural requirements governing recovery of such costs), then: If the Disallowance occurs before the eighteenth anniversary of the Commercial Operations Date, North Carolina Power shall continue to make the payments specified in Article 10 through the eighteenth anniversary of the Commercial Operations Date. Payments for Delivered Capacity beginning on the eighteenth anniversary of the Commercial Operations Date shall not exceed the amount unaffected by the Disallowance. Further, North Carolina Power may, at its option, beginning on the eighteenth anniversary of the Commercial Operations Date withhold up to seventy-five (75) percent of the payments for Delivered Capacity after said eighteenth anniversary until the sooner of (i) the twentieth anniversary of the Commercial Operations Date or (ii) the entire amount of the Disallowance is repaid with Interest from the date each part of the Disallowance was paid to Operator. In the event that such withholding does not fully repay the Disallowance and accrued Interest by the twentieth anniversary of the Commercial Operations Date, the Operator shall pay the remainder to North Carolina Power within one hundred and twenty (120) Days after the twentieth anniversary of the Commercial Operations Date in a lump sum, or; If the Disallowance occurs after the eighteenth anniversary of the Commercial Operations Date all future payments for Delivered Capacity shall not exceed the amount unaffected by the Disallowance. Further, the Operator shall repay the full amount of the Disallowance with Interest by the later of (i) one year ...
Statutory and Regulatory Changes. 18.1 The Parties recognize and hereby agree that if any federal, state or municipal government or regulatory authority, including without limitation the SCC, should for any reason enter an order, modify its rules, or take any action whatsoever, having the effect of disallowing Virginia Power the recovery from its customers of all or any portion of the payments for Dependable Capacity hereunder in excess of the sum of: (x) $6.00 per kW per Month in 1989 dollars as escalated by the Gross National Product Implicit Price Deflator beginning April 1, 1990, and continuing each April until termination of this Agreement; plus (y) an amount in each Month equal to the product of the Net Electrical Output for that Month multiplied by the non-firm energy payment specified in Virginia Power's Schedule 19, supplements thereto and reissues and replacements thereof, on file with the SCC and in effect from time to time, including additions to or escalations of such payments whether included in Schedule 19 or referenced therein; such amount in excess being hereinafter referred to as the Disallowance (except where such disallowance is due to Virginia Power's failure to seek recovery or comply with procedural requirements governing recovery of such costs), then: 128 Page 128 of 138
Statutory and Regulatory Changes. 18.1 The Parties recognize and hereby agree that if any federal, state or municipal government or regulatory authority should for any reason enter an order, modify its rules, or take any action whatsoever, having the effect of disallowing North Carolina Power the recovery from its customers of all or any portion of the payments for Dependable Capacity hereunder in excess of $5.62 per kW per month in 1987 dollars as escalated by the Gross National Product Implicit Price Deflator beginning April l, 1988, and continuing each April 1 until the termination of this Agreement, hereinafter referred to as the Disallowance (except where such disallowance is due to North Carolina Power's failure to seek recovery or comply with procedural requirements governing recovery of such costs), then:
Statutory and Regulatory Changes. 18.1 The Parties recognize and hereby agree that if any federal, state or municipal government or regulatory authority, including without limitation the NCUC, should for any reason enter an order, modify its rules, or take any action whatsoever ordering North Carolina Power to pay bank to its customers amounts collected as a result of payments made hereunder or specifically disallowing North Carolina Power the recovery from its customers of all or any portion of the payments (i) made hereunder, or (ii) to be made hereunder for Dependable Capacity and Net Electrical Output (“Disallowance”) in excess of the sum of payments made, or to be made, for Dependable Capacity and Net Electrical Output based on the energy and capacity prices established (notwithstanding any limitations on the size of the Facility) by the NCUC pursuant to 18 C.F.R. 292.304(c) (currently represented by Schedule 19 POWER PURCHASES FROM COGENERATION AND SMALL POWER PRODUCTION QUALIFYING FACILITIES) and in effect at the time of the Disallowance for the period of time in which such Disallowance is in effect, then the following terms and conditions shall be applicable to such Disallowance, unless such Disallowance is due to North Carolina Power’s failure to seek recovery or comply with procedural requirements governing recovery of such costs. The number of years remaining in the Term of this Agreement will constitute the Schedule 19 length of contract used to determine the payment for Dependable Capacity hereunder.
Statutory and Regulatory Changes. TCS shall identify and notify Xxxxxxx of any changes in Laws applicable to performance and delivery of Services. To the extent TCS becomes aware of, TCS will appraise Xxxxxxx of any changes in the Xxxxxxx Regulatory Requirements and any such changes that may relate to Xxxxxxx’x use of the Services. Xxxxxxx agrees to notify TCS of any changes in Laws and the Xxxxxxx Regulatory Requirements that may relate to Xxxxxxx’x use of the Services. To the extent appropriate personnel in Xxxxxxx become aware of the same, Xxxxxxx will inform TCS of any changes in Laws applicable to performance and delivery of Services. As part of the Services, TCS shall be responsible for implementing all of the Xxxxxxx Regulatory Requirements on a timely basis, subject to, as applicable, Section 18.3(h). TCS shall be responsible for any fines and penalties arising from any noncompliance with TCS obligations under this Section 20.8. TCS shall use Commercially Reasonable Efforts to perform the Services regardless of changes in legislative enactments or regulatory requirements, including the Xxxxxxx Regulatory Requirements. If changes to the Xxxxxxx Regulatory Requirements specific to Xxxxxxx prevent TCS from performing its obligations under this Agreement, TCS shall develop and, upon Xxxxxxx’x approval, implement a suitable work around until such time as TCS can perform its obligations under this Agreement without such work around, subject to, as applicable, Section 18.3(h).
Statutory and Regulatory Changes. If changes in Applicable Law materially adversely affect the rights of a Party under this Agreement, the Parties will meet and use good faith and commercially reasonable efforts to consider modifications to this Agreement to account for the changes in Applicable Law, while preserving, as nearly as possible, the relative economic rights and substantive duties of the Parties under this Agreement.
Statutory and Regulatory Changes
