Financial Security and Termination Costs Sample Clauses

Financial Security and Termination Costs. Under the APS LGIA, interconnection customers are not required to post security until an LGIA is signed, and the primary purpose of posting security is to ensure that funds are available to the transmission provider to cover termination costs. The provisions of the CAISO LGIP and LGIA were substantially changed recently as a result of the CAISO’s generator interconnection process reform.35 An important part of the CAISO’s reforms was to increase the financial commitments of generators during the interconnection process as a means to ensure that only the most financially viable projects advance through the new CAISO cluster study process.36 Thus, after the results of the Phase I Interconnection Study are released, the CAISO LGIP requires the posting 35 The objectives of the CAISO reforms are explained in the FERC orders in which the tariff changes were accepted. See California Indep. Sys. Operator Corp., Docket No. ER08-1317, 124 FERC ¶ 61,292 (2008) (initial order approving tariff reforms instituted as part of XXXXX’s generator interconnection process reform) and 128 FERC ¶ 61,247 (2009) (order on compliance filing).
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Related to Financial Security and Termination Costs

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  • Amendments and Termination This Agreement may be amended or terminated only by a written agreement signed by the Company and the Executive.

  • Termination of Covenants The covenants set forth in this Section 5 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Liquidity Event, as such term is defined in the Restated Certificate, whichever event occurs first.

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