DPUC Approval. This Agreement is contingent upon the Seller obtaining final approval from the DPUC (which approval shall become "final" only upon the expiration of the applicable appeal periods without any appeal having been filed, served and pending on the applicable date below), for the sale of the Premises to the Buyer pursuant to Section 16-43 of the Connecticut General Statutes, and upon final approval by the DPUC, as defined above, of a ratemaking accounting treatment for the net gain from such sale reasonably satisfactory to the Seller. Such satisfaction shall be deemed to have been obtained if the Seller does not notify the Buyer to the contrary in writing within five (5) business days after having notified the Buyer of such final approval as contemplated in Paragraph 9 hereof. Seller agrees (i) to publish notice of its intention to sell in accordance with Section 16-50c(b)(2) of the Connecticut General Statutes within 5 business days from the first date on which this Agreement has been executed by both the Seller and the Buyer, (ii) to submit this Agreement to the DPUC for approval within 35 days after such publication, and (iii) to pursue its application for approval with reasonable diligence. If the Seller shall not have received final approval (as described in Subparagraph (b) above) by October 30, 1998, or if all purchase rights (as described in Subparagraph (a) above) shall not have expired or been waived in accordance with their statutory terms by December 24, 1998, this Agreement shall be terminable by the Seller so notifying the Buyer in writing within five (5) days of either of said conditions not having been met, and, upon such notification, Seller shall return to Buyer all sums paid hereunder, together with interest thereon. Upon such payment, this Agreement shall terminate and be of no further force or effect, and the parties shall be relieved of all liability each to the other, hereunder. The Seller shall also notify the Buyer in writing within five (5) days of each of said conditions having been successfully met.
DPUC Approval. For the avoidance of doubt, notwithstanding anything to the contrary in this Agreement, the effectiveness of this Agreement concerning any and all matters regarding UI Investments and the transfer of UI Assets is subject to final, non-appealable DPUC approval of the Transaction on or before December 31, 2010, on terms and conditions acceptable to each Party in their respective sole discretion exercised in good faith.
DPUC Approval. This Agreement and the purchase and sale transaction contemplated hereby shall have been approved by the DPUC in form and substance satisfactory to the Buyer in its reasonably exercised judgment. Without limiting the generality of the foregoing, such approval shall include a ruling by the DPUC that the Purchase Price paid by the Buyer to the Shareholders for the EAC Common Stock is a prudent investment, that the purchase and sale transaction contemplated hereby is in the best interest of ratepayers of both EAC and the Buyer and that the entire Purchase Price will be recognized in the Buyer’s rate base at the time of the Buyer’s next general rate case (meaning that the Buyer will be allowed to earn a return on the Purchase Price and will be allowed to depreciate the investment in each case in the same manner as other investments in plant), such ruling not to include any conditions that adversely affect the rate or regulatory treatment of the Buyer.
DPUC Approval. This Agreement and the other transactions contemplated hereby shall have been approved by the DPUC.
DPUC Approval. The Company agrees to comply in all material respects with all orders of the DPUC set forth in the December 19, 1990 Decision of the DPUC (Docket No. 90-12-02) approving the issuance and sale of the Notes.
