FERC License Sample Clauses
FERC License. (only applies to hydro projects) - Seller warrants that Seller possesses a valid license or exemption from licensing from the Federal Energy Regulatory Commission ("FERC") for the Facility. Seller recognizes that Seller's possession and retention of a valid FERC license or exemption is a material part of the consideration for Idaho Power's execution of this Agreement. Seller will take such steps as may be required to maintain a valid FERC license or exemption for the Facility during the term of this Agreement, and Seller's failure to maintain a valid FERC license or exemption will be a material breach of this Agreement.
FERC License. The license for the Battle Creek Hydroelectric Project, FERC Project No. 1121 was issued by FERC on August 13, 1976, and is scheduled to expire on July 31, 2026, unless extended by FERC.64
FERC License. Appendix A
FERC License. Oglethorpe will fully perform all its obligations or duties required under the FERC License during the Facility Sublease Term if failure to perform such obligations could have an adverse effect on the value, utility or useful life of the Facility or an adverse effect on the interests of the Transaction Parties in the Facility or the Rocky Mountain Site. Oglethorpe will perform on a timely basis, at its sole cost and expense, any obligations imposed on the Owner Trustee or the Co-Trustee as co-licensees under the FERC License, including any obligation to maintain any amortization reserve required under Article 45 of the FERC License to be maintained by either the Owner Trustee or the Co-Trustee. In the event any such amortization reserve, or any amortization reserve required to be maintained by Oglethorpe or RMLC, is used to reduce the "net investment" of the Owner Trustee or the Co-Trustee in the Undivided Interest or the "net investment" of Oglethorpe in the Rocky Mountain Site upon a government take over of the Facility or the award of a FERC License with respect to the Facility to a new license at the end of the term of the FERC License, Oglethorpe will pay the amount of such reductions to the Owner Participant upon written demand by the Owner Participant. Oglethorpe will also use its best efforts to cause a renewal of the FERC License for a period of not less than 17 years to inter ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ and the Co-Trustee upon expiration of the FERC License.
FERC License. It has fully performed all of the obligations under the FERC License. During the Facility Sublease Term, it will fully perform the obligations with respect to the FERC License in Section 10.05 of the Rocky Mountain Ownership Agreement and not look to the Co-Trustee or RMLC for any contribution or other responsibility for such obligations. It will perform the obligations set forth in Section 10.05 of the Rocky Mountain Ownership Agreement assuming that such provision includes a reference to the Co-Trustee and RMLC as well as Oglethorpe and Georgia Power and cooperate in all respects with the efforts of the Co-Trustee, RMLC and Oglethorpe to obtain a renewal of the FERC License.
FERC License. From the date of this Agreement until the DePere License is transferred from Seller to Buyer, each of Seller and Buyer shall cooperate and use its reasonable best efforts to take, or cause to be taken, all action, and to do, or cause to be done, all things necessary to acquire the DePere License from FERC, including, without limitation, jointly preparing and filing a request to transfer the DePere License from Seller to Buyer immediately following the Closing Date. Upon FERC’s approval of the transfer of the DePere License, the hydroelectric plant located on the lower floors of the DePere, Wisconsin mill and the DePere License itself will be conveyed to Buyer from Seller for $1,000.00.