Utility Laws Sample Clauses
The 'Utility Laws' clause defines the requirement for compliance with all applicable laws and regulations governing utilities, such as electricity, water, gas, and telecommunications, in the context of the agreement. This clause typically obligates the parties to ensure that any utility services provided, used, or installed under the contract adhere to relevant legal standards and permits. For example, it may require that all electrical work be performed by licensed professionals and meet local code requirements. The core function of this clause is to allocate responsibility for legal compliance, thereby reducing the risk of regulatory violations and ensuring that utility-related activities are conducted lawfully.
Utility Laws. No federal, state or local law or regulation exists as of the Closing Date under which any Purchaser would become, solely as a result of the transactions contemplated in the Credit Documents, subject to or not exempt from regulation as an “electric utility,” “electric corporation,” “electrical company,” “public utility,” or “holding company” under the FPA, PUHCA or the laws of the State of Delaware, except a Purchaser may become subject to such regulation upon the exercise of remedies under the Credit Documents.
Utility Laws. No Lender will, solely as a result of the transactions contemplated in this Agreement, become subject to or not exempt from regulation as a “public utility” under Section 201(e) of the FPA, an “electric utility company,” a “public utility company” or a “holding company” under Section 1262(5), 1262(14) or 1262(8), respectively, of the Energy Policy Act of 2005, a “public utility” or an “electrical corporation” under Section 216 or 218, respectively, of the California Public Utilities Code, or a “public service company”, an “electric distribution company” or an “electric company” as such terms are defined, respectively, in Section 16-1 of the Connecticut General Statutes as amended by Connecticut Public Act 13-298, or a “utility” as defined in Section 16-234 of the Connecticut General Statutes, as amended by Connecticut Public Act 13-298, except a Lender may become subject to such regulation upon the exercise of remedies under the Credit Documents.
Utility Laws. No federal, state or local law or regulation, or interpretation thereof, will then exist under which the Lenders would become an “electric utility,” “electric corporation,” “electrical company,” “public utility,” or “holding company,” or any similar Person under such law or regulation solely as a result of this transaction, except as a Lender may become an “electric utility,” “electric corporation,” “electrical company,” “public utility,” or “holding company” upon the exercise of remedies under the Credit Documents.