Common use of Commission Condition Clause in Contracts

Commission Condition. Notwithstanding anything to the contrary in Section 11.02, no amendment or modification of this Agreement that the Member determines has a reasonable possibility to impact the rates borne by customers shall be effective unless the process set forth in this Section 11.03 has been followed. (a) At least thirtieth (30) days prior to the effectiveness of any such amendment or modification and after obtaining the other necessary approvals set forth in Section 11.02 above (except that the consent of the Indenture Trustee may be subject to the consent of Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment or modification), the Member shall have filed in Commission Docket No. 2023-89-E written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Office of Regulatory Staff, which notification shall contain: (i) a reference to Docket No. 2023-89-E; (ii) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Agreement; and (iii) a description of the proposed amendment, including the purpose of such amendment. (b) No later than 5:00 p.m. on the 30th business day after receipt of notice of a proposed amendment complying with subparagraph(i), the Commission shall issue an order either (i) approving the proposed amendment or (ii) preventing the adoption such amendment or modification. Following the delivery of an order from the Commission to the Member under subparagraph (b), the Member and the Company shall have the right at any time to withdraw from the Commission further consideration of any proposed amendment. The fact that the Administrator delivers notice to the Commission pursuant to this Section 11.03(b) does not obligate the Administrator to amend the Agreement as provided in the notice.