Elective Upgrade Status; No Regional Rates Sample Clauses

Elective Upgrade Status; No Regional Rates. It is the intent of the Parties that the NECEC Transmission Line has Elective Transmission Upgrade status during the Term and that the AC Upgrades and the CCIS Capacity Upgrades constitute Network Upgrades under the ISO-NE Tariff required to accommodate the interconnection of the NECEC Transmission Line. It is the further intent of the Parties that Owner’s recovery of the investment in and return on the NECEC Facilities and the Distribution Company’s obligation to pay for the NECEC Facilities shall be solely governed by this Agreement. The Parties each shall refrain from taking steps to include all or part of the NECEC Facilities in ISO-NE regional transmission rates during the Term and for a period of twenty (20) years thereafter. Notwithstanding the foregoing, if during the Term all or part of the NECEC Facilities are included in ISO-NE regional rates paid by the Distribution Company, the payment required by Section 8.1 shall be reduced by the Proportionate Share of the revenues received by Owner from such ISO-NE rates with respect to the NECEC Facilities. “NECEC Facilities” means the NECEC Transmission Line, the AC Upgrades, and the CCIS Capacity Upgrades.
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Elective Upgrade Status; No Regional Rates. It is the intent of the Parties that the NECEC Transmission Line has Elective Transmission Upgrade status during the Term and that the AC Upgrades and the CCIS Capacity Upgrades constitute Network Upgrades under the ISO-NE Tariff required to accommodate the interconnection of the NECEC Transmission Line. The Parties acknowledge and agree that (a) as contemplated by the PPA, Purchaser shall participate in such Forward Capacity Auction (as defined in the ISO-NE Rules) qualification process as required to allow Purchaser to qualify a Seasonal Claimed Capability (as defined in the ISO-NE Rules) of not less than 1,200 MW over the NECEC Transmission Line no later than the Guaranteed Delivery Term Start Date (as defined in the PPA), as it may be extended pursuant to Sections 3.1(c) through 3.1(f) of the PPA and (b) such Network Upgrades, if any, shall be at Owner’s sole expense. It is the further intent of the Parties that Owner’s recovery of the investment in and return on the NECEC Facilities and Purchaser’s obligation to pay for the NECEC Facilities, shall be solely governed by this Agreement. The Parties each shall refrain from taking steps to include all or part of the NECEC Facilities in ISO-NE regional transmission rates during the Term. Notwithstanding the foregoing, if during the Term all or part of the NECEC Facilities are included in ISO-NE regional rates paid by Purchaser, the payment required by Section 8.1 shall be reduced by the Proportionate Share of the revenues received by Owner from such ISO-NE rates with respect to the NECEC Facilities. “NECEC Facilities” means the NECEC Transmission Line, the AC Upgrades, and the CCIS Capacity Upgrades.
Sample 1Sample 2
Elective Upgrade Status; No Regional Rates. It is the intent of the Parties that the NECEC Transmission Line has Elective Transmission Upgrade status during the Term and that the AC Upgrades and the CCIS Capacity Upgrades constitute Network Upgrades under the ISO-NE Tariff required to accommodate the interconnection of the NECEC Transmission Line. The Parties acknowledge and agree that (a) as contemplated by the PPA, Purchaser shall participate in such Forward Capacity Auction (as defined in the ISO-NE Rules) qualification process as required to allow Purchaser to qualify a Seasonal Claimed Capability (as defined in the ISO-NE Rules) of not less than 1,200 MW over the NECEC Transmission Line no later than the Guaranteed Delivery Term Start Date (as defined in the PPA), as it may be extended pursuant to Sections 3.1(c) through 3.1(f) of the PPA and (b) such Network Upgrades, if any, shall be at
Sample 1

Related to Elective Upgrade Status; No Regional Rates

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