Joint Venture Right to Reduce Curtailment Sample Clauses

Joint Venture Right to Reduce Curtailment. If following the date of this Agreement there is a material change in circumstances such that it becomes impracticable or uneconomic for a Joint Venture Participant to purchase, transport, store or utilize heavy fuel oil at its facilities in substantially the same manner as it does at the date of this Agreement, the Joint Venture may, upon not less than 12 months’ notice to the LDU’s, such notice not to be effective before the expiration of the last day of any Agreement Year, reduce the number of Curtailment Units to be available hereunder. The notice will provide reasonable particulars regarding the reasons for the reduction and the calculation of the amount of the reduction. If a notice is given under this provision, the Joint Venture will, upon request by the LDU’s, cooperate reasonably with the LDU’s to examine and develop alternatives whereby it becomes reasonably practicable and economic for the Joint Venture to minimize or avoid a reduction in the Curtailment Units available to the LDU’s. Nothing herein will be construed to require the expenditure of funds by any Joint Venture Participant to provide Curtailment Units to the LDU’s other than such expenditures as would be made by such participant prudently in the ordinary course of conducting its business.
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Related to Joint Venture Right to Reduce Curtailment

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