Conditions Precedent to the Commercial Operation Date. (a) Seller’s obligation to Deliver the Products and Buyer’s obligation to pay Seller for such Products commences on the Commercial Operation Date. (b) The Commercial Operation Date shall occur on a date on which the following conditions precedent have been satisfied: (i) Buyer has received Regulatory Approval; (ii) U.S. Transmission Provider has satisfied the conditions to “Commercial Operation,” as set forth in Section 4.3 of the TSA, including the completion of the AC Upgrades (as defined in the TSA) and the CCIS Capacity Upgrades (as defined in the TSA) as contemplated by Section 4.3(c) of the TSA; (iii) the Québec Line has been constructed in accordance with Attachment A of the TSA, and is capable of operating at the Design Capability (as defined in the TSA), except as otherwise permitted pursuant to Section 4.4.1(b) of the TSA; (iv) Seller has satisfied all requirements in order to provide for unit- specific accounting of Environmental Attributes, enabling the Massachusetts Department of Environmental Protection to accurately account for such Qualified Clean Energy in the state greenhouse gas emissions inventory, created under chapter 298 of the Acts of 2008, and satisfying the requirements of this Agreement; (v) Seller (or the party with whom Seller contracts pursuant to Section 3.5(e)) has (x) established all ISO-NE-related accounts and entered into all ISO-NE-related agreements required for the performance of Seller’s obligations in connection with the Hydro-Québec Power Resources and this Agreement, which agreements shall be in full force and effect, including the registration of the Hydro-Québec Power Resources in the GIS and (y) satisfied all other requirements of the ISO-NE Rules and the ISO-NE Practices for the Delivery of Products to Buyer at the Delivery Point; (vi) no default or Event of Default by Seller shall have occurred and remain uncured; (vii) the Hydro-Québec Power Resources and the Québec Line are owned or leased by, and under the care, custody and control of, Seller or its Affiliate; (viii) the Hydro-Québec Power Resources are in compliance with all applicable Laws and all Permits for the Delivery of the Products in accordance with this Agreement; and (ix) Seller confirms receipt by Hydro-Québec and its Affiliates of all Permits (including all Québec Line Approvals) required for the Delivery of the Products in accordance with this Agreement including an authorization from the National Energy Board of Canada to export electricity to Seller during the Services Term in a quantity at least equal to the proposed transmission transfer capability of the Québec Line, which authorization does not include any conditions or modifications that Hydro-Québec deems to be unacceptable.
Appears in 7 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
