Common use of Billing Arrangements Clause in Contracts

Billing Arrangements. The NYISO shall pay to TC Ravenswood, through the billing procedures set forth in the NYISO’s Services Tariff, the appropriate monthly share of the Predetermined Costs for the months May through September for the relevant Capability Year commencing with May 2014 and shall allocate such payment through the billing procedures set forth in the NYISO’s Services Tariff to all load withdrawals, other than withdrawals to support third party station power, in the Con Edison Transmission District (Load Zones H, I and J) based on load ratio shares for each Load Serving Entity (“LSE”) for the month for which the payment is made. All other costs to be paid pursuant to this TCR Minimum Oil Burn Agreement shall be billed to the NYISO by TC Ravenswood as soon as reasonably practicable after they are incurred, paid by the NYISO in accordance with the billing procedures set forth in the NYISO Services Tariff and allocated to all load withdrawals, other than withdrawals to support third party station power, in the Con Edison Transmission District based on load ratio shares for each LSE for the month for which the payment is made. Termination/Amendment. This TCR Minimum Oil Burn Agreement shall terminate on April 30, 2015. The NYISO and TC Ravenswood will use reasonable commercial efforts to enter into another agreement and file it with the Commission at least six months prior to the termination date. As part of this effort, TC Ravenswood and the NYISO shall work together to negotiate an amendment or replacement agreement which shall define the terms and conditions applicable to the subsequent Capability Year(s) using the Commission’s Dispute Resolution Service as necessary, pursuant to Section 4.1.9 of the NYISO Services Tariff. To the extent confidential materials are adequately protected, Con Edison and the NYPSC will be included in the discussions. Upon filing of such an amendment or replacement agreement, the Parties shall request an effective date for the amendment or agreement of May 1, 2017. In the event the Parties are unable to reach agreement at least four months prior to April 30, 2017, the Parties may file an unexecuted agreement for the Commission’s review, resolution of open issues and acceptance of one binding agreement pursuant to Section 4.1.9 of the NYISO Services Tariff. The Parties shall retain all rights under the Federal Power Act, as applicable, under Section 4.1.9 of the NYISO Services Tariff, and under all other provisions in the NYISO Services Tariff to the extent applicable.

Billing Arrangements. The NYISO 18.1 Bills showing the amounts due from the MAINTENANCE AUTHORITIES for their respective shares of SCARAB SYSTEM costs for each quarter shall pay be rendered to TC Ravenswoodthem by the CENTRAL BILLING PARTY on or before the 20th day of the first month of each quarter. Such bills shall be based on information received by the CENTRAL BILLING PARTY under Paragraph 18.2 and on the approved Estimated STANDING CHARGES and shall include: (a) estimated STANDING CHARGES in respect of the quarter, (b) a reduction of Estimated STANDING CHARGES in respect of OUTSIDE WORK forecast for the quarter, (c) adjustments in respect of previous quarters' actual OUTSIDE WORK and/or Actual STANDING CHARGES, (d) RUNNING COSTS, through as incurred and advised to the billing procedures set forth CENTRAL BILLING PARTY quarterly, (e) interest, pursuant to Article 18.5, on bills not paid when due, and (f) CENTRAL BILLING PARTY charges in accordance with Article 18.7. 18.2 On or before the fifteenth day of the last month preceding each quarter, each OWNER shall advise the CENTRAL BILLING PARTY as to the details of SCARAB SYSTEM activities (including retrospective adjustments) and Running Costs, to be included in the NYISO’s Services Tariff, bills next due to be rendered to MAINTENANCE AUTHORITIES. Such details shall be advised in the appropriate monthly share currency of the Predetermined Costs OWNER. 18.3 For billing purposes, all such costs notified to the CENTRAL BILLING PARTY shall be converted into the currency of the CENTRAL BILLING PARTY at the exchange rates pertaining to forward foreign exchange contracts which the CENTRAL BILLING PARTY will enter into for the months May through September for purchase of the relevant Capability Year commencing with May 2014 amounts due to each OWNER in its own currency on the first working day of the third month of the quarter. 18.4 Bills shall be rendered in the currency of the CENTRAL BILLING PARTY and shall allocate such be payable in that currency unless the CENTRAL BILLING PARTY agrees otherwise. 18.5 Bills shall be payable by the last working day of the second month of the quarter to which they relate, or if the issue of a xxxx is delayed, seventy days from the date of issue, whichever is the later. Bills not paid by the due date will incur a quarterly compounded interest charge at a rate of one hundred and twenty five (125%) percent of the *LIBOR applicable on the first working day following the date by which payment through is due, which rate will be applied throughout the billing procedures set forth in the NYISO’s Services Tariff to all load withdrawals, other than withdrawals to support third party station power, in the Con Edison Transmission District (Load Zones H, I and J) based on load ratio shares for each Load Serving Entity (“LSE”) for the month for period during which the payment is madeoverdue. All other costs to be paid pursuant to this TCR Minimum Oil Burn Agreement shall be billed to *LIBOR is the NYISO by TC Ravenswood London Interbank Offer Rate for Sterling as soon as reasonably practicable after they are incurred, paid by the NYISO in accordance with the billing procedures set forth published in the NYISO Services Tariff and allocated London Financial Times. 18.6 On the first working day of the third month of each quarter, the CENTRAL BILLING PARTY shall remit to all load withdrawals, other than withdrawals to support third party station poweror settle with each OWNER, in the Con Edison Transmission District based on load ratio shares for each LSE for the month for which the payment is made. Termination/Amendment. This TCR Minimum Oil Burn Agreement shall terminate on April 30, 2015. The NYISO and TC Ravenswood will use reasonable commercial efforts to enter into another agreement and file it with the Commission at least six months prior to the termination date. As part of this effort, TC Ravenswood and the NYISO shall work together to negotiate an amendment or replacement agreement which shall define the terms and conditions applicable to the subsequent Capability Year(s) using the Commission’s Dispute Resolution Service as necessary, pursuant to Section 4.1.9 of the NYISO Services Tariff. To the extent confidential materials are adequately protected, Con Edison and the NYPSC will be included in the discussions. Upon filing of such an amendment or replacement agreementOWNER's own currency, the Parties shall request an effective date for the amendment or agreement of May 1, 2017. In the event the Parties are unable to reach agreement at least four months prior to April 30, 2017, the Parties may file an unexecuted agreement for the Commission’s review, resolution of open issues and acceptance of one binding agreement pursuant to Section 4.1.9 of the NYISO Services Tariff. The Parties shall retain all rights amounts notified by it under the Federal Power Act, as applicable, under Section 4.1.9 of the NYISO Services Tariff, and under all other provisions in the NYISO Services Tariff to the extent applicableArticle 18.