Common use of Withdrawal Payment Clause in Contracts

Withdrawal Payment. If the effective date of WEIS Participant’s Withdrawal is prior to the expiration of the Initial Term plus four years, WEIS Participant will pay SPP its then current NEL Share of Implementation Costs Remaining pursuant to Exhibit A plus the Annual Payment during the pendency of the notice of Withdrawal, and if the effective date of WEIS Participant’s Withdrawal is after the expiration of the Initial Term plus four years, WEIS Participant will only pay the prorated Annual Payment during the pendency of the notice of Withdrawal (“Withdrawal Payment”). Any Withdrawal Payment received by SPP will be applied as a reduction to the Implementation Costs Remaining as defined in Exhibit A.

Withdrawal Payment. If the effective date of WEIS ▇▇▇▇ Participant’s Withdrawal is prior to the expiration of the Initial Term plus four years, WEIS ▇▇▇▇ Participant will pay SPP its then current NEL Share of Implementation Costs Remaining pursuant to Exhibit A plus the Annual Payment during the pendency of the notice of Withdrawal, and if the effective date of WEIS ▇▇▇▇ Participant’s Withdrawal is after the expiration of the Initial Term plus four years, WEIS ▇▇▇▇ Participant will only pay the prorated Annual Payment during the pendency of the notice of Withdrawal (“Withdrawal Payment”). Any Withdrawal Payment received by SPP will be applied as a reduction to the Implementation Costs Remaining as defined in Exhibit A.