Common use of Effective Term and Termination Rights Clause in Contracts

Effective Term and Termination Rights. This Agreement shall become effective when executed by both Parties and shall continue in effect until terminated in accordance with the provisions of this Agreement. This Agreement may be terminated for the following reasons: (a) Customer may terminate this Agreement at any time by giving Company at least sixty (60) days’ prior written notice stating Customer’s intent to terminate this Agreement at the expiration of such notice period; (b) Company may terminate this Agreement at any time following Customer’s failure to generate energy from the Generation Facilities in parallel with Company’s electric system by the later of two years from the date of execution of this Agreement or twelve (12) months after completion of the interconnection provided for by this Agreement; (c) either Party may terminate this Agreement at any time by giving the other Party at least sixty (60) days’ prior written notice that the other Party is in default of any of the material terms and conditions of this Agreement, so long as the notice specifies the basis for termination and there is reasonable opportunity for the Party in default to cure the default; or (d) Company may terminate this Agreement at any time by giving Customer at least sixty (60) days’ prior written notice in the event that there is a change in an applicable rule or statute affecting this Agreement. Upon termination of this Agreement, Customer’s Generation Facilities shall be disconnected from the Company’s system. Termination of this Agreement shall not relieve either party of its liabilities and obligations, owed or continuing at the time of the termination.

Effective Term and Termination Rights. This Agreement shall become effective when executed by both Parties and shall continue in effect for at least one year and, thereafter, until terminated tenninated in accordance with the provisions of this Agreement. This Agreement may be terminated for the following reasons: (a) Customer may terminate tenninate this Agreement at any time by giving Company at least sixty (60) days’ ' prior written notice stating Customer’s 's intent to terminate this Agreement at the expiration of such notice period; (b) Company may terminate tenninate this Agreement at any time following Customer’s 's failure to generate energy from the Generation Facilities in parallel with Company’s 's electric system by the later of two years from the date of execution of this Agreement or twelve (( 12) months after completion of the interconnection provided for by this Agreement; (c) either Party may terminate tenninate this Agreement at any time by giving the other Party at least sixty (60) days’ ' prior written notice that the other Party is in default of any of the material terms tenns and conditions of this Agreement, so long as the notice specifies the basis for termination tennination and there is reasonable opportunity for the Party in default to cure the default; or (d) Company may terminate this Agreement at any time by giving Customer at least sixty (60) days’ ' prior written notice in the event that there is a change in an applicable rule or statute affecting this Agreement. Upon termination tennination of this Agreement, Customer’s 's Generation Facilities shall be disconnected at Customer's sole expense from the Company’s 's system. Termination Tennination of this Agreement shall not relieve either party of its liabilities and obligations, owed or continuing at the time of the terminationtennination.