Amendment to Section III. 1(a). The following sentence shall be added to the end of Section III.1(a) of the Agreement: “Upon the consummation of an IPO, the provisions of this Article III shall be terminated and shall have no further force or effect.”
Amendment to Section III. Section III of the Warrant is hereby amended to read in its entirety as follows: "Subject to Section 2 hereof, the purchase right represented by this Warrant may be exercised by the Holder, in whole or in part, by the surrender of this Warrant (with the notice of exercise form attached hereto as Appendix A duly executed) at the principal office of the Company and by the payment to the Company of the Exercise Price. The Exercise Price may be paid in whole or in part by the Holder to the Company:
Amendment to Section III. DEFINITIONS - Subsection 3 of Section III, Definitions, shall be amended by deleting the period at the end of subsection 3(v) and substituting "; or" and inserting a new subsection (vi) as follows:
Amendment to Section III. D of the Member Financial Assurance Policy. The second sentence of Section III.D of the Member Financial Assurance Policy is amended to read as follows: Each financial assurance for NEPOOL Charges, unless replaced in accordance with the terms hereof or no longer required pursuant to the terms hereof, shall remain in effect until the later of (a) 120 days after termination of the Municipal Participant's membership or (b) the end date of all FTRs awarded to the Municipal Participant and the final satisfaction of all obligations of the Municipal Participant providing that financial assurance; provided, however that financial assurances required by this Policy related to potential billing adjustments chargeable to a terminated Municipal Participant shall remain in effect until such billing adjustment request is finally resolved in accordance with the provisions of the NEPOOL Billing Policy.
