Firm Contracts definition
Examples of Firm Contracts in a sentence
For Firm Contracts and System Contracts, the treatment of Installed Capability, Operable Capability, Energy, Operating Reserve and AGC between the seller and the purchaser in determining their respective responsibilities and Entitlements shall be as agreed between the parties and reported to the System Operator in accordance with market operation rules approved by the Regional Market Operations Committee.
Notwithstanding the foregoing, such documents shall be delivered to Bank prior to any Construction Line funding for Units with Firm Contracts and Bank agrees to not unreasonably withhold or delay its consent to such documents.
Furthermore, upon Broker’s request from time to time, Owner shall provide Broker with updates as to the status of pending Firm Contracts in which Commissions are due Broker and if applicable, Co- Broker, and Owner agrees to advise the applicable escrow holder and/or any subsequent brokers of Broker’s right to obtain information on pending Firm Contracts in which Commissions or due Broker, and if applicable, Co- Broker, and instruct them to cooperate fully with Broker.
In the event of expiration or termination of this Agreement, Owner shall make all reasonable efforts to Close on all Firm Contracts in which Commissions are due to Broker and if applicable, Co-Broker.
For Firm Contracts and System Contracts, the treatment of Installed Capability, Energy, Operating Reserve and AGC between the seller and the purchaser in determining their respective responsibilities and Entitlements shall be as agreed between the parties and reported to the System Operator in accordance with market operation rules approved by the Markets Committee prior to the activation of the Participants Committee or the Participants Committee thereafter.
Owner should make an assignment for the benefit of creditors, or in the event Owner should lose title to the Property through foreclosure, deed-in-lieu of foreclosure, or other such involuntary transfer, the Broker Commission and Co-Broker Commission, if applicable, payable to Broker and Co-Broker with respect to any and all pending Firm Contracts shall continue to be due and payable upon Closing of the Property.
No material liability or obligation has been incurred by SLE or on SLE’s behalf, except for (1) the Firm Contracts (as defined in Section 10(h) below), (2) the HPS Advances defined in Section 5, and (3) any other liability attributable to the construction of the Plant.
Accordingly, each shall direct and encourage its staff, personnel, and representatives to fully communicate and cooperate with one another to promote Firm Contracts and subsequent Closings on the Property.
Each Participant shall have for each hour an Energy obligation equal to its Electrical Load PLUS the kilowatthours delivered by such Participant to other Participants in the hour pursuant to Firm Contracts or System Contracts, together with any associated electrical losses.
Doot Effective: March 1, ▇▇▇▇ ▇▇▇▇▇▇ on: December 30, 1999 67269.43 New England Power Pool FERC Electric Rate Schedule No. 5, Original Revised Sheet No. 15 reduced or increased, as appropriate, to recognize rights to receive or -------------------- obligations to supply AGC pursuant to Firm Contracts or System Contracts in accordance with Section 14.7(a).