Transmission Assets Sample Clauses
The "Transmission Assets" clause defines which physical infrastructure and equipment are considered part of the transmission system within the context of the agreement. This typically includes items such as transmission lines, substations, transformers, and related facilities that are used to transport electricity from generation sites to distribution networks or end users. By clearly specifying what constitutes transmission assets, the clause helps delineate ownership, operational responsibilities, and maintenance obligations, thereby reducing ambiguity and potential disputes between parties regarding asset management and liability.
Transmission Assets. If and to the extent that on the Closing Date the FERC Order referred to in clause (v) of the definition thereof has not been obtained with respect to the jurisdictional facilities referred to therein (which facilities are identified in Exhibit A as Transmission Assets (the "Transmission Assets")), the Owner Participant shall, upon 5 days' prior written notice to the Facility Lessee, and subject to the grant of the aforesaid order, cause the Owner Lessor to acquire an undivided interest equal to the Owner Lessor's Percentage in the Facility Lessee's right, title and interest in the Transmission Assets, for a price equal to $1.00. Upon payment by the Owner Lessor of such amount, the Facility Lessee shall execute and deliver such documentation as is reasonably requested by the Owner Lessor to transfer such undivided interest in the Facility Lessee's right, title and interest in the Transmission Assets to the Owner Lessor. Upon such transfer such Undivided Interest shall be and shall be deemed to be an integral part of the Undivided Interest (to the extent constituting a portion of the Facility) and the Ground Interest (to the extent constituting a portion of the leasehold interest in the Facility Site) for all purposes of the Operative Documents without the necessity of amending or supplementing any Operative Document, subject nevertheless to Section 14.15 hereof. Without limiting Section 10 hereof or Section 4.2 of the Facility Lease, the Facility Lessee agrees that from and after the Closing Date and until the earlier to occur of (A) the transfer referred to in clause (a) above and (B) the termination of the Facility Lease, the Facility Lessee shall make available to the Owner Lessor, for no additional compensation, such rights in the Transmission Assets solely to the extent as shall be necessary so that the representation in Section 3.1(n) will be correct to the same extent as if such transfer had occurred on the Closing Date. COVENANTS OF THE OWNER LESSOR, THE TRUST COMPANY AND THE LESSOR MANAGER Compliance with the LLC Agreement. Each of the Owner Lessor, the Trust Company and the Lessor Manager hereby severally covenants and agrees that during the Facility Lease Term it will: comply with all of the terms of the LLC Agreement applicable to it; and not amend, supplement, or otherwise modify Section 9.1, 9.3, 13.1 or clause (i) of Section 13.2 of the LLC Agreement without the prior written consent of the Facility Lessee so long as no Significant Lease Def...
Transmission Assets. Upon the terms and subject to the conditions contained in this Agreement, at the Closing, Seller shall sell, convey, assign, transfer and deliver to Purchaser, and Purchaser will purchase and acquire from Seller, the following assets, (the “Transmission Assets”):
(i) the assets listed on Schedule 2.1; and
(ii) the Transmission Real Property.
Transmission Assets. The property and assets shown on Schedule C, together with any future additions to Transmission Assets acquired, constructed, or under construction, after the effective date of this Agreement, comprise the “Transmission Assets.” These assets consist of geographically-located transmission lines and substations, together with the associated property interests identified in Section 4.5, owned, used, or under construction, by TMPA to provide transmission service within ERCOT pursuant to Chapter 35 of the Texas Utility Code.
Transmission Assets. All conditions in Article 9 of the Transmission Assets Purchase and Sale Agreement to the consummation of the "Closing" under, and as such term is defined in, the Transmission Assets Purchase and Sale Agreement shall have been fulfilled or waived as required thereunder, and Transmission Assets Purchaser shall be ready to and shall effect such Closing contemporaneously with the Closing under this Agreement.
Transmission Assets. Subject to the terms and conditions of this Agreement, as of the Operations Date, the Contributor shall assign, transfer, convey and deliver to TRANSLink, as a capital contribution, free and clear of all Encumbrances (other than Permitted Encumbrances), all right, title and interest to the Transmission Assets, in each instance in the manner specified in this Article III.
Transmission Assets. An ownership interest, as specified on Exhibit 1.1(ii) attached hereto, in and to those transmission and distribution lines, interconnections and other components of the system identified on Exhibit 1.1(ii), together with the same ownership interest in and to the real property interests (including, without limitation, any easements, rights-of-way, permits or other equivalent real property usage rights) related thereto (collectively, the "Transmission Assets").
Transmission Assets. Undivided Interest Transmission Asset To Buyer ------------------ --------- Poles and Fixtures ------------------
Transmission Assets. Between the date of this Agreement and December 31, 2002, the Parties shall cooperate and use Best Efforts to (i) identify facilities and assets owned by Seller as either "transmission" or "distribution" in accordance with the same methodology and underlying principles of the "seven factor test" set forth in FERC Order No. 888 unless modification to such "seven factor test" is agreed upon by the Parties, consistent with the regulations and orders of the FERC, and (ii) prepare a statement setting forth its estimate of the aggregate Net Plant in Service of all of Seller's facilities and assets owned and identified by the Parties as "transmission" (the "Transmission Assets Valuation").