Common use of Facility Trust Accounts Clause in Contracts

Facility Trust Accounts. CAISO shall establish two segregated commercial bank accounts under the “Facility Trust Account” referred to in Sections 11.13 and 41 of the CAISO Tariff for each Responsible Utility. One commercial bank account, the “RMR Owner Facility Trust Account”, shall be held in trust by CAISO for Owner. The other commercial bank account, the “Responsible Utility Facility Trust Account”, shall be held in trust by CAISO for the Responsible Utility. Payments received by CAISO from a Responsible Utility in connection with this Agreement, including payments following termination of this Agreement, will be deposited into the RMR Owner Facility Trust Account and payments from CAISO to Owner will be withdrawn from such Account, all in accordance with Sections 11.13 and 41 of the CAISO Tariff and this Article 9. Any payments received by CAISO from Owner in connection with this Agreement, including payments following termination of this Agreement, will be deposited into the Responsible Utility Facility Trust Account. Any payments to a Responsible Utility of funds received from Owner under this Agreement will be withdrawn from the Responsible Utility Facility Trust Account, all in accordance with Section 11.13 and 41 of the CAISO Tariff, and this Agreement. Neither the RMR Owner Facility Trust Account nor the Responsible Utility Facility Trust Account shall have other funds commingled in it at any time.

Facility Trust Accounts. ‌ CAISO shall establish two segregated commercial bank accounts under the “Facility Trust Account” referred to in Sections 11.13 and 41 of the CAISO Tariff for each Responsible Utility. One commercial bank account, the “RMR Owner Facility Trust Account”, shall be held in trust by CAISO for Owner. The other commercial bank account, the “Responsible Utility Facility Trust Account”, shall be held in trust by CAISO for the Responsible Utility. Payments received by CAISO from a Responsible Utility in connection with this Agreement, including payments following termination of this Agreement, will be deposited into the RMR Owner Facility Trust Account and payments from CAISO to Owner will be withdrawn from such Account, all in accordance with Sections 11.13 and 41 of the CAISO Tariff and this Article 9. Any payments received by CAISO from Owner in connection with this Agreement, including payments following termination of this Agreement, will be deposited into the Responsible Utility Facility Trust Account. Any payments to a Responsible Utility of funds received from Owner under this Agreement will be withdrawn from the Responsible Utility Facility Trust Account, all in accordance with Section 11.13 and 41 of the CAISO Tariff, and this Agreement. Neither the RMR Owner Facility Trust Account nor the Responsible Utility Facility Trust Account shall have other funds commingled in it at any time.