Internal Bilateral Transactions Sample Clauses

Internal Bilateral Transactions. The transfer of the Contract Quantity of Energy from Seller to T&D shall be implemented through real-time bilateral transactions in the market settlement system administered by ISO-NE. Unless otherwise provided in internal bilateral transactions (“IBT”) procedures (if any) set forth in this Agreement, Seller shall submit market transactions to ISO-NE that transfer to T&D the Contract Quantity of Energy, with hourly quantities, delivery point, and other transaction characteristics that replicate the transactions submitted by Seller to ISO-NE, and T&D shall be obligated to accept and confirm submitted transactions, provided they are correct, in accordance with all applicable ISO-NE Market Rules and Manuals. In implementing IBT procedures, the Parties shall comply with the IBT Protocols as specified in ISO-NE Market Rules and Manuals. To the extent there are ISO-NE Schedule 2 charges arising from the IBT, Seller shall pay for any such charges related to the Seller-side of the transaction and T&D shall pay for any such charges related to the T&D-side of the transaction.

Internal Bilateral Transactions. Seller, as Lead Market Participant, shall schedule the energy into ISO-NE under an Internal Bilateral Transaction (“IBT”). Under such arrangement, Seller shall transfer Buyer’s Metered Output into ISO-NE as generated, all energy revenues and charges for Buyer’s Metered Output shall be transferred directly from ISO-NE to Buyer, and Buyer shall settle with Seller for the fixed Aggregate Contract Price. Buyer is responsible only for Imbalance Energy Charges and Credits related to the Project, and any charges and credits resulting from the Forward Capacity Market (“FCM”) as described below in Section 4.7. Seller, as Lead Market Participant, will offer bids into ISO-NE at the Energy Offer Floor price, except as otherwise provided herein, and subject to any other reasonable modifications to scheduling and bidding strategies that Buyer communicates to Seller throughout the Term. The Parties agree to cooperate in a commercially reasonable manner and in accordance with Applicable Market Rules to develop such scheduling and bidding strategies.