Summary of the Proposed Settlement Agreement. A proposed settlement agreement was documented in a draft Settlement Agreement, notice of which was published in the Federal Register for public review and comment simultaneously with the release of this Draft RP/EA. Under the proposed settlement, XxxxxXxx agrees to pay $255,000 consisting of $70,690 to compensate the Trustees for their actual past assessment costs, $6,100 for administrative costs associated with restoration planning, implementation and monitoring, and $178,210 to fund the Preferred Alternative identified in Section 3.0.
Summary of the Proposed Settlement Agreement. The Settlement Agreement proposes to settle the parties’ rights and obligations under the REP through September 30, 2011. The provisions of the Settlement Agreement are summarized as follows: • The RPSA would be terminated when the Settlement Agreement is executed. Xxxxx would agree to forfeit its rights under the RPSA through September 2011. • In full and complete satisfaction of all of its REP obligations under section 5(c) of the Northwest Power Act for the period through September 30, 2011, BPA would pay Xxxxx monetary benefits of $15,000,000 in lump sum payments as specified below: PAYMENT DATE Payment Amount ($) On or before January 1, 2006 2,716,962 On or before October 2, 2006 2,283,038 On or before October 1, 2007 5,000,000 On or before October 1, 2008 5,000,000 The payment for $2,716,962 was made by BPA under the RPSA prior to the date that the proposed Settlement Agreement would be executed. • Amounts received by Xxxxx under the Settlement Agreement must be passed through in full and in a timely manner to Xxxxx’x residential and small farm consumers. Such amounts must be identified on Xxxxx’x books of account. BPA retains the right to audit Xxxxx at BPA's expense to determine whether the benefits paid to Xxxxx under the Settlement Agreement were passed through to Xxxxx’x eligible residential and small farm customers as required by section 5(c)(3) of the Northwest Power Act. Xxxxx is required to maintain records and documents needed for any audit by BPA. • The lump sum payments made under the proposed settlement agreement have been discounted from the amounts Xxxxx sought to receive under its Appendix 1 filing.
Summary of the Proposed Settlement Agreement. The Settlement Agreement is conditional on the approval of the Ontario Court and the confirmation of a Plan of Reorganization of Dow Corning Corporation by the U.S. Bankruptcy Court. Under the terms of the proposed Agreement:
