Decommissioning Agreement definition
Examples of Decommissioning Agreement in a sentence
NMPC has made available to Buyer information from which Buyer can determine the Tax Basis as of the second Business Day before Closing of all assets (other than cash) of the Nonqualified Decommissioning Fund transferred to the Trustee of the Post-Closing Decommissioning Agreement pursuant to Section 6.12.
At no time will a non-defaulting Party be responsible for making payments required under this Decommissioning Agreement on behalf of any other Party.
The Trustee will have no obligation to take any action whatsoever in connection with Party A’s funding of the Decommissioning Trust, or to enforce any obligations that Party A has, or may have, under the Decommissioning Agreement with respect to the funding of the Decommissioning Trust.
Subject to Section 3.2.8, the Decommissioning Agent will serve during the term of this Decommissioning Agreement unless it resigns as Decommissioning Agent by giving notice to the Parties at least one (1) year in advance of the effective date of the resignation.
At the time of the establishment of Party A’s Trust, Party A will notify the Trustee of the names and contact information of all of the Parties to the Decommissioning Agreement and the Decommissioning Agent.
No interest in the Decommissioning Trust Funds established pursuant to this Agreement will be transferable or assignable, voluntarily or involuntarily, or be subject to the claims of Party A or its creditors other than as provided in the Decommissioning Agreement.
The execution and delivery of this Decommissioning Agreement and the performance of the obligations set out herein have been duly authorized by all necessary action on the part of each Party.
This Decommissioning Agreement may be executed in any number of counterparts, and each executed counterpart will have the same force and effect as an original instrument as if all the Parties to the aggregated counterparts had signed the same instrument.
Party A hereby establishes and is funding herewith the Decommissioning Trust Fund in accordance with the Decommissioning Agreement.
Subject to Section 11.1, each Party will reimburse the Decommissioning Agent, based on the Party’s Decommissioning Share then in effect, for all of the reasonable costs and expenses incurred by the Decommissioning Agent in its performance of its responsibilities pursuant to this Decommissioning Agreement.