STPNOC definition
Examples of STPNOC in a sentence
On November 17, 1997, HL&P was removed as STP Project Manager, and STPNOC became the operator of the plant.
On October 1, 1997, all HL&P employees assigned to STP were transferred from HL&P to STPNOC.
Since January 1, 2010, neither Parent, any of its Subsidiaries nor to the Knowledge of Parent and its Subsidiaries, STPNOC, has received any written notice or, to the Parent’s Knowledge, other communication from any Governmental Entity regarding any actual or possible violation of, or failure to comply with, any Law, except as would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect.
In addition, the formation and operation of STPNOC is expected to result in a decrease in costs allocable to CPL related to its investment in STP (The foregoing statement constitutes a forward looking statement within the meaning of Section 21E of the Exchange Act.
Each of the four STP co-owners are represented on the STPNOC board of directors.
STPNOC has assessed and tested its Information Security Program on no less than an annual basis; remediated all critical, high, and medium-level vulnerabilities; and there have been, in the preceding two (2) years, no material violations of such Information Security Program, except as set forth on Schedule 4.9(a).
The interests contained in the Real Property Agreements afford the Company sufficient real property rights to permit the Facility to be located and operated in the ordinary course of business and in accordance with the Company Material Contracts and the STPNOC Material Contracts.
Schedule 4.10 sets forth a list of the material insurance policies, including applicable Nuclear Insurance Policies, maintained by the STPNOC for the benefit of the Company (the “STPNOC Insurance Policies”).
STPNOC does not pay sales and use tax since two of the owners are municipalities.
As of the Closing, no foreign person will control STPNOC or Buyer’s 44% undivided interest in the South Texas Project.