Common use of Weekly Payments Clause in Contracts

Weekly Payments. A Non-Participant Transmission Customer that does not satisfy the rating requirement or, if such Non-Participant Transmission Customer is an Unrated Non-Participant Transmission Customer, the Credit Threshold may request that, in lieu of providing one of the additional financial assurances set forth above, a weekly billing schedule be implemented for it. NEPOOL may, in its discretion, agree to such a request; provided, however, that any weekly billing arrangement will terminate no more than six (6) months after the date on which such arrangement begins unless the Non-Participant Transmission Customer requests an extension of such arrangement and demonstrates to NEPOOL's satisfaction in its sole discretion that the termination of such arrangement and compliance with the other provisions of this Policy (including providing another form of financial assurance, if required) will impose a substantial hardship on the Non-Participant Transmission Customer. Such demonstration of a substantial hardship shall be made every six (6) months after the initial demonstration, and a Non-Participant Transmission Customer's weekly billing arrangement will be terminated if it fails to ATTACHMENT 1 TO THE EIGHTY-FIRST AGREEMENT demonstrate to NEPOOL's satisfaction in its sole discretion at any such six (6) month interval that compliance with the other provisions of this Policy will impose a substantial hardship on it. If NEPOOL agrees to implement a weekly billing schedule for a Non-Participant Transmission Customer, the Non-Participant Transmission Customer shall be billed weekly in arrears on an estimated basis for all amounts owed to NEPOOL and the System Operator for the week, with an adjustment for each month as part of the regular NEPOOL monthly billing to reflect any under or over collection for the month. The Non-Participant Transmission Customer shall be obligated to pay each such weekly bill within five (5) Business Days after it is received. The Non-▇▇▇▇icipant Transmission Customer shall pay with respect to each weekly bill an administrative fee, determined by the System Operator, to ▇▇▇mburse the System Operator for the costs it incurs as a result of that Non-Participant Transmission Customer's weekly billing arrangement. If a weekly billing schedule is implemented for a Non-Participant Transmission Customer in lieu of requiring the Non-Participant Transmission Customer to provide an additional financial assurance hereunder, the Non-Participant Transmission Customer may be required to provide an additional financial assurance in the form and in the amount required hereunder at any time if the Non-Participant Transmission Customer fails to pay when due any weekly bill or, in its sole discretion, NEPOOL may initiate proceedings ▇▇ ▇erminate service in accordance with Section 8.4 of the Tariff. In addition, upon the termination of a Non-Participant Transmission Customer's weekly billing arrangement, the Non-Participant Transmission Customer shall either satisfy the applicable rating requirements set forth herein, satisfy the Credit Threshold (if such Non-Participant Transmission Customer is an Unrated Non-Participant ATTACHMENT 1 TO THE EIGHTY-FIRST AGREEMENT Transmission Customer), or provide one of the other forms of financial assurance set forth herein.

Weekly Payments. A Non-Participant Transmission Customer that does not satisfy the rating requirement or, if such Non-Participant Transmission Customer is an Unrated Non-Participant Transmission CustomerMunicipal Participant, the Credit Threshold may request that, in lieu of providing one of the additional financial assurances set forth above, a weekly billing schedule be implemented for it. NEPOOL may, in its discretion, agree to such a request; provided, however, that any weekly billing arrangement will terminate no more than six (6) months after the date on which such arrangement begins unless the Non-Participant Transmission Customer requests an extension of such arrangement and demonstrates to NEPOOL's satisfaction in its sole discretion that the termination of such arrangement and compliance with the other provisions of this Policy (including providing another form of financial assurance, if required) will impose a substantial hardship on the Non-Participant Transmission CustomerParticipant. Such demonstration of a substantial hardship shall be made every six (6) months after the initial demonstration, and a Non-Participant Transmission CustomerParticipant's weekly billing arrangement will be terminated if it fails to ATTACHMENT 1 TO THE EIGHTY-FIRST AGREEMENT demonstrate to NEPOOL's satisfaction in its sole discretion at any such six (6) month interval that compliance with the other provisions of this Policy will impose a substantial hardship on it. If NEPOOL agrees to implement a weekly billing schedule for a Non-Participant Transmission CustomerParticipant, the Non-Participant Transmission Customer shall be billed weekly in arrears on an estimated basis for all amounts owed to NEPOOL and the System Operator for the week, with an adjustment for each month as part of the regular NEPOOL monthly billing to reflect any under or over collection for the month. The Non-Participant Transmission Customer shall be obligated to pay each such weekly bill within five (5) Business Days after it is received. The Non-Part▇▇▇▇icipant Transmission Customer ant shall pay with respect to each weekly bill an administrative fee, determined by the System Operator, to ▇▇▇mburse the System Operator for the costs it incurs as a result of that Non-Participant Transmission CustomerParticipant's weekly billing arrangement. If a weekly billing schedule is implemented for a Non-Participant Transmission Customer in lieu of requiring the Non-Participant Transmission Customer to provide an additional financial assurance hereunder, the Non-Participant Transmission Customer may be required to provide an additional financial assurance in the form and in the amount required hereunder at any time if the Non-Participant Transmission Customer fails to pay when due any weekly bill or, in its sole discretion, NEPOOL may initiate proceedings ▇▇ ▇erminate service in accordance with Section 8.4 of the Tariffbill. In addition, upon the termination of a Non-Participant Transmission CustomerParticipant's weekly billing ▇▇▇ling arrangement, the Non-Participant Transmission Customer shall either satisfy the applicable rating requirements set forth herein, satisfy the Credit Threshold (if such Non-Participant Transmission Customer is an Unrated Non-Participant ATTACHMENT 1 TO THE EIGHTY-FIRST AGREEMENT Transmission CustomerMunicipal Participant), or provide one of the other forms of financial assurance set forth herein.