Common use of Accounting and Compensation Clause in Contracts

Accounting and Compensation. 5.1.1. The Operator shall maintain accounts for the Company in accordance with the FERC Uniform System of Accounts and other Required Accounting Practices and shall keep a full and complete account of all costs, expenses and expenditures incurred by it in connection with its obligations hereunder in the manner set forth in the Accounting Procedure. 5.1.2. The Company will pay the Operator at the rate and in the manner set forth in the Accounting Procedure. For any variable costs paid by the Company, the Operator is required to keep documentation sufficient to demonstrate that any such variable costs were reasonably incurred in connection with the Operation of the Facilities or otherwise to fulfill the Operator’s duties under this CO&M Agreement and the Operating Agreement. The Company is not obligated to pay Operator for any variable costs arising out of Prohibited Conduct or valid claims for non-payment of any and all contributions, withholding deductions or taxes measured by the wages, salaries or compensation paid to Persons employed by the Operator or any of its Affiliates in connection herewith.