Transmission Credits definition
Examples of Transmission Credits in a sentence
The Transmission Credits shall be applicable on a dollar-for-dollar basis against any charges or fees imposed on a Participant or its Associated Producer under any Transmission Agreement entered into by such Participant or Associated Producer and IID.
Any Transmission Credits which are available for use but are not used in a given Credit Installment Year may be carried forward and used in later Credit Installment Years, provided that any Transmission Credits not applied against charges or fees due and payable under a Transmission Agreement within fifteen (15) years after the beginning of the Credit Installment Period shall expire and be of no further force or effect.
The Transmission Credits received by each Participant shall be divided into ten (10) equal installments, and a single such installment shall become available for use during each successive Credit Installment Year.
IID shall be responsible for keeping a record on its books of the amount of Transmission Credits used and remaining for use, as well as the dates of availability, for each holder of Transmission Credits.
The dollar value of unused Transmission Credits transferred from each existing Participant shall be equal to the payment received by such Participant pursuant to Section 8.02.
IID shall promptly issue a letter to each such Participant confirming the amount of Transmission Credits available to such Participant.
Each Participant shall inform IID of the persons, selected from among itself and its Associated Producers, which are to use the Transmission Credits issued to it.
In return for the payment received from the Additional Participant as provided in Section 8.02, IID shall transfer unused Transmission Credits on its books from each of the existing Participants to the Additional Participant.
The dollar value of Transmission Credits received by the Additional Participant shall be equal to the amount of its payment to IID pursuant to Section 8.02.
In the event that the dollar amount to be distributed to a Participant pursuant to Section 8.02 exceeds the dollar value of Transmission Credits held by such Participant, the excess shall not be distributed to such Participant and shall be refunded to the Additional Participant.