Legislation Event definition

Legislation Event means the enactment into law by the Illinois General Assembly before August 1, 2011 of legislation that by its express provisions or by reason of judicial action has the effect of (a) freezing or reducing retail electric rates of any signatory to the Letter or this Agreement or any of its Affiliates or successors in interest; or (b) imposing or authorizing a new tax, special assessment or a fee on the generation of electricity, the ownership or leasehold of a generating unit or the privilege or occupation of such generation or ownership or leasehold of a generating unit by any signatory to the Letter or this Agreement or any of its Affiliates or successors in interest, other than a generally applicable tax, special assessment or fee.
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Examples of Legislation Event in a sentence

  • The term of this Agreement will begin on the Effective Date and will continue until the reimbursement by Exelon to ComEd of an aggregate of $435 Million hereunder and the payment of accrued interest, if any, required by Section 2.2(b); provided, however, that ComEd shall not be required to give further Credits, and Exelon shall not be required to reimburse ComEd for any Credit given by ComEd, after a Legislation Event.

  • The term of this Agreement will begin on the Effective Date and will continue until the reimbursement by the Generators of the Ameren Entities an aggregate of $393,000,000 hereunder and the payment of accrued interest, if any, required by Section 2.2(b); provided, however, that no Ameren Entity shall be required to give further Credits, and no Generator shall be required to reimburse any Ameren Entity for any Credit given by any Ameren Entity, after a Legislation Event.