Invalidity of the Financial Settlement Agreement Sample Clauses

Invalidity of the Financial Settlement Agreement. A new section 3(b)(2) of the Settlement Agreement provides that in the event the United States Court of Appeals for the Ninth Circuit finally determines, after all appeals or requests for reconsideration, that the Financial Settlement Agreement (or cash payments under the Financial Settlement Agreement) is invalid, then PacifiCorp has two options. First, PacifiCorp can provide written notice to BPA within 30 calendar days that the Monetary Benefits provided under section 4 of the Settlement Agreement satisfy all of BPA’s obligations under or arising out of section 5(c) of the Northwest Power Act for the period following the court’s final determination through September 30, 2006. Second, if PacifiCorp provides no notice, BPA and PacifiCorp agree that the provisions of section 3(a), which establish the satisfaction of BPA’s section 5(c) obligations, will be of no further force or effect. Section 3(b)(2) also provides that in the event of the court’s above-noted final determination, the Parties intend that the cash payments pursuant the Financial Settlement Agreement and the Monetary Benefits provided under the Settlement Agreement provided prior to such final determination will be retained by PacifiCorp, to the maximum extent permitted by law. Also, the satisfaction of BPA’s obligations to PacifiCorp under section 5(c) of the Northwest Power Act prior to the court’s final determination should be preserved, to the maximum extent permitted by law. As noted previously, this would avoid a difficult and complicated process of determining a new agreement and retroactively implementing changes to the benefits for that period. Also, additional difficulties would lie in the ability of PacifiCorp and the state public utility commissions to implement such changes without creating potential economic harm to consumers.
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Related to Invalidity of the Financial Settlement Agreement

  • Authority to Enter Into Settlement Agreement 5.1 CAG represents that its signatory to this Settlement Agreement has full authority to enter into and legally bind CAG to this Settlement Agreement.

  • Modification of Settlement Agreement Any modification to this Settlement Agreement shall be in writing and signed by the Parties.

  • FAILURE TO HONOUR SETTLEMENT AGREEMENT 32. If this Settlement Agreement is accepted by the Hearing Panel and, at any subsequent time, the Respondent fails to honour any of the Terms of Settlement set out herein, Staff reserves the right to bring proceedings under section 24.3 of the By-laws of the MFDA against the Respondent based on, but not limited to, the facts set out in Part IV of the Settlement Agreement, as well as the breach of the Settlement Agreement. If such additional enforcement action is taken, the Respondent agrees that the proceeding(s) may be heard and determined by a hearing panel comprised of all or some of the same members of the hearing panel that accepted the Settlement Agreement, if available.

  • Termination Amendment and Waiver 46 7.1 Termination....................................................................................46 7.2

  • Application of Settlement Agreement 10.1 This Settlement Agreement shall apply to, be binding upon, and inure to the benefit of, CAG and the Releasees and Downstream Releasees identified in Section 2 above.

  • WHOLE AGREEMENT The General Provisions, Special Provisions, and Attachments, as provided herein, constitute the complete Agreement (“Agreement”) between the parties hereto, and supersede any and all oral and written agreements between the parties relating to matters herein. Except as otherwise provided herein, this Agreement cannot be modified without written consent of the parties.

  • EXECUTION OF SETTLEMENT AGREEMENT 37. This Settlement Agreement may be signed in one or more counterparts which together shall constitute a binding agreement.

  • NEGOTIATION OF A SUBSEQUENT AGREEMENT The parties agree to commence negotiations for a new collective agreement to succeed this Agreement at least 3 months before the nominal expiry date. The parties intend to conclude these negotiations prior to the nominal expiry date. These negotiations shall be conducted on a collective basis between the parties with the negotiated outcome being subject to approval of a vote of the employees collectively.

  • Sale of Note; Change of Loan Servicer; Notice of Grievance The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the “Loan Servicer”) that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party’s actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20.

  • If Settlement Agreement is Terminated (1) If this Settlement Agreement is not approved, is terminated in accordance with its terms or otherwise fails to take effect for any reason:

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