WSPP definition
Examples of WSPP in a sentence
Except for the amount of the net termination payment, the determination of the net amounts due under this Contract, other Slice Contracts and WSPP Transactions shall not be offset by, or take into account or include any Performance Assurance that may then be posted and in effect pursuant to the Collateral Annex between the Parties.
If the District determines obtaining quotations is appropriate, then the District will endeavor to obtain quotations from three or more third parties selected by the District who, in the District’s reasonable discretion, are creditworthy, are qualified to enter into a Replacement Slice Contract, and are parties to a WSPP Agreement (each a “Qualified Bidder”).
The Parties hereby agree that all payment obligations due and owing to each other pursuant to this Contract, other Slice Contracts and WSPP Transactions during the monthly billing period shall be netted with and set off so that only the excess amount remaining due shall be paid by the Party owing the same.
If the Party owing money (“Owing Party”) elects to make payments over time to the other Party (“Receiving Party”), the Present Value Rate referenced in Section 22.3(b) in the WSPP Agreement and 16(d) in this or another Slice Contract shall not be reflected in determining the amounts to be paid.
Section 14, Transfer of Interest in Agreement, of the WSPP Agreement shall for purposes of this Confirmation be deleted in its entirety and replaced with the following: “Neither Party shall transfer, assign or sell its rights as set forth in this Confirmation, to any third party without first obtaining the prior written consent of the other Party.
Section 30, Confidentiality, of the WSPP Agreement is amended for purposes of this Confirmation by inserting at the end of Section 30.1(6) prior to the semicolon the following: “or to Deliver RECs pursuant to the requirements of WREGIS”.
If the Parties are unable to agree within such time, the WSPP Representative shall appoint a replacement Mediator from the list used to select the first Mediator within two Business Days after being notified that the Parties are unable to agree.
The Mediator shall be chosen in accordance with the procedures set forth in Section 34.1 of the WSPP Agreement.
If Company fails to pay any Obligations, Guarantor shall promptly pay to the Guaranteed Party no later than the next Business Day (as defined in the WSPP Agreement), after notification, the amount due in the same currency and manner provided for in the Agreements.
Other Provisions: ♦ This Confirmation Agreement is governed by the terms and conditions of the WSPP Agreement dated effective September 1, 2002.