Generation Asset Transfers Sample Clauses
The Generation Asset Transfers clause governs the process by which ownership or operational control of electricity generation assets is transferred from one party to another. Typically, this clause outlines the conditions, procedures, and required approvals for such transfers, including notification requirements, regulatory compliance, and any restrictions on assignment. Its core practical function is to ensure that asset transfers are conducted transparently and in accordance with contractual and legal obligations, thereby minimizing disputes and maintaining the integrity of energy supply arrangements.
Generation Asset Transfers. (a) The parties shall cooperate and use commercially reasonable efforts to identify all assets (i) transferred pursuant to any Asset Transfer Agreements or to be transferred under the Generation Agreement that are not used in the generation operations of DMG and are used in connection with the Business and (ii) owned by any IPC Company, not used in connection with the Business and necessary for the operation by DMG of its generation business.
(b) Following the Closing, Dynegy shall cause DMG to transfer to IPC the assets identified by Dynegy and Purchaser pursuant to clause (i) of Section 5.20(a), pursuant to the Generation Agreement. Following the Closing, Purchaser shall cause IPC to transfer to DMG the assets identified by Dynegy and Purchaser pursuant to clause (ii) of Section 5.20(a) pursuant to the Generation Agreement. In connection with such transfers pursuant to this Section 5.20(b), Dynegy shall and shall cause IPC and their respective Affiliates to, in consultation with Purchaser, make all necessary filings with and obtain all necessary appraisals and governmental orders from the applicable Governmental Authorities.