Common use of Upon Completion of Regulatory Reviews Clause in Contracts

Upon Completion of Regulatory Reviews. The remainder of this Agreement shall become effective on the later of the follow dates (the latter date is the “Effective Date”) that: (1) the FERC issues a final order approving this Agreement and incorporating it into the Project’s license, (2) the NMFS issues the District a Permit for the Project based upon this Agreement, and (3) the USFWS completes necessary consultations under the ESA. However, any Party may withdraw from this Agreement within sixty- (60) days of the Effective Date in the event that: (1) the NMFS issues the District a Permit with terms and conditions in addition to or different from those set forth in this Agreement, (2) the FERC fails to include this Agreement, in its entirety, or adds terms or conditions inconsistent with this Agreement as a license condition of the current Project license or a new long term Project license approved within the term of this Agreement, or (3) a Party as a result of compliance with NEPA or SEPA requires a material change to the terms or conditions of this Agreement. In order to withdraw from this Agreement, a Party shall provide all other Parties with notice of withdrawal and state in the notice the reason for withdrawal. The ability of a Party to withdraw from this Agreement pursuant to this paragraph terminates if not exercised within said period. The notices required by this section shall be in writing and either served in person or provided by U.S. Mail, return receipt requested.

Upon Completion of Regulatory Reviews. The remainder of this Agreement shall become effective on the later of the follow dates (the latter date is the “Effective Date”) that: (1) the FERC issues a final order approving this Agreement and incorporating it into the Project’s license, (2) the NMFS issues the District a Permit for the Project based upon this Agreement, Agreement and (3) the USFWS completes necessary consultations under the ESA. However, any Party may withdraw from this Agreement within sixty- (60) days of the Effective Date in the event that: (1) the NMFS issues the District a Permit with terms and conditions in addition to or different from those set forth in this Agreement, (2) the FERC fails to include this Agreement, in its entirety, or adds terms or conditions inconsistent with this Agreement as a license condition of the current Project license or a new long term Project license approved within the term of this Agreement, or (3) a Party as a result of compliance with NEPA or SEPA requires a material change to the terms or conditions of this Agreement. In order to withdraw from this Agreement, a Party shall provide all other Parties with notice of withdrawal and state in the notice the reason for withdrawal. The ability of a Party to withdraw from this Agreement pursuant to this paragraph terminates if not exercised within said period. The notices required by this section shall be in writing and either served in person or provided by U.S. Mail, return receipt requested.