Transferable LSP Interconnection Facilities Clause Samples

Transferable LSP Interconnection Facilities. (a) Following the Operation Date, LSP shall have the option, exercisable upon thirty (30) Days prior written notice to TVA to transfer ownership of and any associated operation and maintenance responsibility for the Transferable LSP Interconnection Facilities to TVA or to any third party affiliated with LSP or to an unaffiliated third party, in any such case at no cost to TVA. A transfer of the Transferable LSP Interconnection Facilities to TVA shall be made pursuant to a ▇▇▇▇ of sale or such other documentation as required by law and reasonably acceptable to TVA to effect a transfer of title of the Transferable LSP Interconnection Facilities with all legal warranties. Such documentation ("Transfer Documents") shall include without limitation a conveyance or assignment in a form reasonably acceptable to TVA of any land rights including easements and rights-of-way and rights of ingress and egress in, on, over, and across property necessary for TVA to own, operate, and maintain the Transferable LSP Interconnection Facilities. Such transfer of the Transferable LSP Interconnection Facilities to TVA shall be for no additional consideration by either Party to the other. Prior to effecting the transfer of the Transferable LSP Interconnection Facilities to any other party, LSP shall demonstrate to TVA's reasonable satisfaction that it has made arrangements for any required maintenance and the continued operation of the Transferable LSP Interconnection Facilities to be performed consistent with the provisions of this Agreement at no cost to TVA. Any transfer and assignment to TVA shall be effective upon the execution and delivery of the Transfer Documents by LSP, provided that the effective date of such transfer and assignment shall be subject to the provisions of Section 12.1 of this Agreement. Any costs incurred by TVA to effectuate such transfer and assignment shall be reimbursed by LSP pursuant to the provisions of Articles 9 and 14. (b) TVA shall use due diligence and cooperate in good faith to cause such transfer and assignment to be effective as soon as possible after LSP's notice under Section 3.11(a). Upon the effective date of such transfer and assignment to TVA, the Transferable LSP Interconnection Facilities shall become TVA Interconnection Facilities and the provisions of Sections 2.5, 2.6, 2.7, 2.8, and 2.9 of this Agreement shall apply to such facilities transferred to TVA under this Section 3.11. (c) The transfer of the Transferable LSP Interconnect...