OVEC definition
Examples of OVEC in a sentence
The amount to be paid to Corporation for OVEC Emergency Energy purchased by Corporation under this Agreement shall be the applicable FERC filed emergency energy charge per kilowatt hour (plus any applicable transmission charges calculated in accordance with applicable law).
In case the computation of the amount due for ECAR Emergency Energy or OVEC Emergency Energy cannot be determined at the time, it shall be estimated subject to adjustment when the actual determination can be made, and all payments shall be subject to subsequent adjustment.
To the Best Knowledge of Allegheny, no third party has asserted any claim against any OVEC Entity that, individually or in the aggregate, will have, or would reasonably be expected to have, a material adverse effect on any OVEC Entity.
Except as disclosed on Schedule 5(a) – Information Concerning OVEC, there is no information provided to Allegheny by any OVEC Entity or otherwise known to Allegheny which Allegheny reasonably believes, to the Best Knowledge of Allegheny, could result in a material adverse change in the financial condition, results of operations, business, or prospects of any OVEC Entity.
Cause each OVEC Entity to continue to furnish Purchaser with information about each OVEC Entity and its business, assets, and liabilities and to permit Purchaser’s representatives to review its books and records; to talk with its employees (to the extent necessary to update Purchaser’s due diligence); and to visit its facilities.
If at any time from and after the Effective Time through the New ICPA Effective Date, Allegheny breaches any of its covenants in Section 7(b) of this Agreement, Purchaser shall have the right to retain from the Holdback Amount an amount equal to Purchaser’s proportionate share of any Losses incurred by the OVEC Entities, and any additional direct Losses incurred by Purchaser, arising out of or related to the breach (the “Holdback Claim”).
To the Best Knowledge of Allegheny, each OVEC Entity complies with all applicable laws, including but not limited to any laws, regulations, permits, authorizations and requirements relating to environment, health and safety, and laws relating to employment practices, product safety, and safety in the work place.
Until a representative of Purchaser is elected to the Board of Directors of OVEC, two of Allegheny’s representatives on the Board of Directors of OVEC shall vote from and after the Effective Time in the manner directed by Purchaser and shall inform Purchaser of all matters discussed at each and every meeting of the Board of Directors of OVEC.
Applicants with diagnosed or suspected disabilities as determined by the OVEC Head Start Disabilities Consultants also receive additional points over a child with no disabilities.
The Borrower owns a 4.9% equity ownership interest in Ohio Valley Electric Corporation (OVEC), an electric generation company, and guarantees 4.9% of OVEC’s debt obligations.