CECONY definition
Examples of CECONY in a sentence
At the close of business on October 11, 1999, (i) 217,991,256 shares of CEI Common Stock were issued and outstanding (excluding all shares of CEI Common Stock held by CECONY), (ii) 323,738 shares of CEI Common Stock were held by CEI in its treasury and (iii) 17,173,100 shares of CEI Common Stock were held by CECONY.
Owner acknowledges that this Agreement does not provide for the supply of any electric service by CECONY to Owner.
Effective as of the Closing, Seller shall cause any amount which is or may later become due and owing by the Company or the Subsidiaries to Seller, CECONY, CSS, Consolidated Edison Solutions, Inc.
CECONY is an investor-owned electric utility serving customers in the City of New York, New York and Westchester County, New York.
In addition, CECONY will have the right to draw on the Letter of Credit for any of the reasons set forth in such Letter of Credit (or its accompanying draw certificate).
Owner acknowledges and agrees that nothing in this Section 5.01 is intended to abrogate, amend or modify the terms of any other agreement between Owner and CECONY, including any interconnection agreement or electric service agreement, and that no breach under such other agreement shall excuse Owner’s nonperformance under this Agreement.
If CECONY is the Non-Defaulting Party and reasonably expects to incur penalties, fines or costs from the NYISO, the NYPSC, or any other Governmental Authority, then CECONY may estimate the amount of those penalties and fines and include them in the Termination Payment amount.
Owner may, with CECONY’s consent, authorize CECONY to retain cash or Letter(s) of Credit initially posted as Development Security as Performance Assurance posted under Section 7.02.
CECONY shall have the right to inspect or audit Owner’s EPC Contract and its books and records to verify Owner’s compliance with the Milestone Schedule and other obligations under this Agreement.
If Owner is required by Applicable Laws to remit or pay Governmental Charges that are CECONY’s responsibility hereunder, CECONY shall promptly reimburse Owner for such Governmental Charges upon Owner’s request.