Back-to-back agreement Sample Clauses

Back-to-back agreement. 3.1 As soon as this clause becomes effective under clause 2 above, the Subcontractor shall discharge in full all the duties imposed upon the Main Contractor in the Main Contract and the Subcontractor shall have in full all the rights, privileges, options and protections that the Main Contractor has in the Main Contract except as further provided in this agreement. 3.2 Except as further provided in this agreement, the Main Contract shall be used to determine the respective rights and duties of the Main Contractor and the Subcontractor under this agreement except that: (a) wherever in the Main Contract there is a reference to the Customer or a term referring to the Customer, for the purposes of this agreement a reference to the Main Contractor or a term referring to the Main Contractor shall be substituted; (b) wherever in the Main Contract there is a reference to the Main Contractor or a term referring to the Main Contractor, for the purposes of this agreement a reference to the Subcontractor or a term referring to the Subcontractor shall be substituted; and

Back-to-back agreement. Innogy will use reasonable endeavours to procure that at Completion, AEP Resources Inc. will enter into an agreement with Northern or a member of the Northern Group nominated by Northern (a "NOMINEE"), in form satisfactory to such parties acting reasonably, under which AEP Resources Inc. will undertake to exercise all its rights under any documents to which it is a party in respect of the $275 million Junior Subordinated Debentures at 8.08% issued by Yorkshire Power Finance Limited as agent and trustee for Northern (or such nominee) and act in accordance with the directions of Northern (or such nominee) subject to AEP Resources Inc. being indemnified by Northern (or such nominee) in respect of any actions taken by it pursuant to such directions.

Back-to-back agreement. 3.1 As soon as this clause becomes effective under clause 2 above, the Sub- hirer shall discharge in full all the duties imposed upon the Main Hirer in the Main Contract and the Sub-hirer shall have in full all the rights, privileges, options and protections that the Main Hirer has in the Main Contract except as further provided in this Agreement. 3.2 Except as further provided in this Agreement, the Main Contract shall be used to determine the respective rights and duties of the Main Hirer and the Sub-hirer under this Agreement except that: 3.2.1 wherever in the Main Contract there is a reference to the Main Hirer as Lessor or any other term referring to the Main Hirer as Lessor, for the purposes of this Agreement a reference to the Main Hirer or a term referring to the Main Hirer shall be substituted. 3.2.2 wherever in the Main Contract there is a reference to the Main Hirer or a term referring to the Main Hirer, for the purposes of this Agreement a reference to the Sub-hirer or a term referring to the Sub-hirer shall be substituted; and

Back-to-back agreement. 3.1 As soon as this clause becomes effective under clause 2 above, the Subcontractor shall be bound to DHSC in respect of the Subcontract Scope of Work as DHSC shall be bound to the Authority under the Grant Agreement except as further provided in this agreement. 3.2 Except as further provided in this agreement, the Grant Agreement shall be used to determine the respective rights and duties of DHSC and the Subcontractor under this agreement except that: (a) wherever in the Grant Agreement there is a reference to the Authority or a term referring to the Authority, for the purposes of this agreement a reference to DHSC or a term referring to DHSC shall be substituted; (b) wherever in the Grant Agreement there is a reference to the Authority or a term referring to the Authority, for the purposes of this agreement a reference to the Subcontractor or a term referring to the Subcontractor shall be substituted; and (c) the Grant Agreement shall be interpreted subject to the further alterations made for the purposes of this agreement as set out in Schedule 2.

Back-to-back agreement. Dynegy Marketing and Trade, LLC and Purchaser or Purchaser’s designee shall have entered into the Back-to-Back Agreement.

Back-to-back agreement. (a) The Parties agree that if (i) a Consent to Assignment and Release, and/or (ii) any Seller Regulatory Approvals and/or Buyer Regulatory Approvals, as applicable, in each case with respect to a Sourcing Contract is not obtained before the Closing, the Parties shall, unless mutually agreed otherwise, enter into a Back-to-Back Agreement at the Closing in accordance with this Section 2.4 with respect to each such Sourcing Contract (collectively, the "Backed Transactions"). (b) The Parties agree that the general terms and conditions of any Back to Back Agreement entered into under this Section 2.4 shall be governed by the applicable Master Agreement for the transactions contemplated under the Sourcing Contract. If the Parties do not have such a Master Agreement in place as of the Agreement Date, the Parties shall execute and deliver such Master Agreement simultaneously with the execution and delivery of the Back-to-Back Agreement. It is the intent of the Parties that the confirmations detailing the commercial terms of any such Back to Back Agreement that is entered into by the Parties as contemplated herein shall: (i) fully transfer to Buyer all of Seller’s risks under the relevant Sourcing Contracts to the extent of the related Backed Transactions, including risks of changes in the market(s) for Power and Gas, future changes in the requirements, rules and procedures of System Operators, Pipeline Administrators, LDCs and Governmental Entities and changes to the interpretation and application of such requirements, rules and procedures, and defaults by or disagreements with the Counterparties concerning application and interpretation of such Backed Transactions related to periods after the Closing Date; provided, however, that Seller shall not transfer either the obligation or the right to post or receive, as applicable, margin or collateral under such Sourcing Contracts as such rights and obligations shall be retained by Seller under such Sourcing Contracts until such time as they are assigned; (ii) provide to Buyer the full beneficial interest of the revenues to or from Counterparties for Power and Gas products and performance of the contract obligations under the relevant Backed Transactions during the term of the Back-to-Back Agreement; and (iii) provide for an agency relationship in which Buyer acts as agent on behalf of Seller with respect to the Backed Transactions, with the same general agency authorizations and limitations and such other adjustments t...