Common use of BUSINESS ISSUES COMMITTEE Clause in Contracts

BUSINESS ISSUES COMMITTEE. 9.01 Scope of Responsibilities. The responsibilities of the Business Issues Committee shall be the following: (a) Establishment of procedures related to the efficient and non-discriminatory operation of electricity markets centrally coordinated by the ISO, including procedures related to bidding, Settlements and the calculation of market prices; (b) Development of procedures related to the implementation of the commercial aspects associated with the procedures developed by the Operating Committee; (c) Development of procedures related to the commercial aspects of the ISO’s operations; (d) Formation of uniform standards and procedures for the bidding, scheduling, and financial Settlement of bulk power transactions consistent with the Reliability Rules and with the provisions of the ISO Tariffs, the ISO/NYSRC Agreement, the ISO/TO Agreement, and this ISO Agreement; (e) Establishment, subject to the review and approval or modification of the Management Committee, of policies and procedures related to the maintenance of sufficient working capital to fund the operations of the ISO, and the establishment of credit arrangements and accounts with financial and commercial institutions, including banks; (f) Establishment of by-laws, subject to approval by the Management Committee; and (g) Any additional responsibilities assigned by the Management Committee. Procedures adopted by the Business Issues Committee will be implemented by the staff of the ISO unless suspended or overruled by the Management Committee or ISO Board. In carrying out its responsibilities, the Business Issues Committee shall seek input and recommendations from ISO staff. The responsibilities of the Business Issues Committee are subject to revision by the Management Committee. The Business Issues Committee shall adopt by-laws, subject to approval by the Management Committee. The Committee by-laws shall include provisions for notice to all Parties of Committee meetings, including an agenda, at least five (5) business days prior to a meeting and a requirement that no final Committee action be taken on a matter that is not listed on the Committee agenda. For purposes of calculating the notice period required in this paragraph, the day on which the relevant meeting is to be held shall be included, but the day on which notice is given shall not be included. Intermediate Saturdays and Sundays, ISO-designated holidays, and weekdays on which the ISO is closed to business shall be excluded from the computation. As used in this paragraph, “ISO-designated holiday” includes those holidays designated by the ISO on the ISO calendar maintained on the ISO website at xxxx://xxx.xxxxx.xxx/public/committees/calendar/index.jsp. 9.02 Representation, Sectors, Affiliated Parties, Voting, Quorum, Committee Action, Procedures By-Laws and Appeals. The rules with respect to sectors, Affiliated Parties, voting, quorum, committee action, procedures, by-laws and appeals for the Business Issues Committee shall be the same as those applicable to the Management Committee under Sections 7.03, 7.04, 7.05, 7.06, 7.07, 7.08. 7.09, 7.10, 7.11, 7.12 and 7.13.