Honoring of Existing Contracts Sample Clauses

Honoring of Existing Contracts. The ISO will enable Existing Rightholders represented by the Responsible PTO to exercise their rights under Existing Contracts as contemplated by Sections 2.4.3 and 2.4.4 of the ISO Tariff notwithstanding any inconsistency with the other provisions of the ISO Tariff , applicable ISO Protocols and the SC Agreement. The Responsible PTO will not amend the Existing Contract in any way that may affect the ISO in its operation of the ISO Controlled Grid without first consulting the ISO as Control Area operator. The Parties will use reasonable efforts to ensure that, to the extent possible, the honoring of Existing Contracts does not (a) adversely affect the safe and reliable operation of the ISO Controlled Grid or (b) degrade ISO Control Area performance.
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Related to Honoring of Existing Contracts

  • Maintenance of Existence (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization or incorporation and (b) take all reasonable action to maintain all rights, privileges (including its good standing), permits, licenses and franchises necessary or desirable in the normal conduct of its business, except (i) in each case of clauses (a) (other than with respect to the Borrower) and (b), to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect or (ii) in each case, pursuant to a transaction permitted by Section 7.04 or Section 7.05.

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