Obligations and Deliveries. III.1 Transaction .
Obligations and Deliveries. Seller’s and Buyer’s Obligations
Obligations and Deliveries. Three.1Transaction.
Obligations and Deliveries. Amend Article Three as follows: A new Section 3.4 is added to read as follows: “
Obligations and Deliveries. 33 ARTICLE 5 TAXES 38
Obligations and Deliveries. Amend Article Three as follows:
(1) Add a new Section 3.4 at the end of the Article: “
Obligations and Deliveries. 4. 1Delivery .
Obligations and Deliveries is amended to delete the clause “With respect to each Transaction,” and substituting therefor the clause “With respect to the Transaction,” and to delete the clause “; provided, however, with respect to Options, the obligations set forth in the preceding sentence shall only arise if the Option Buyer exercises it Option in accordance with it terms.”
Obligations and Deliveries. 3. 1 Seller's and Buyer's Obligations. With respect to each Transaction, Seller shall sell and deliver, or cause to be delivered, and Buyer shall purchase and receive, or cause to be received, the Quantity of the Product at the Delivery Point, and Buyer shall pay Seller the Contract Price; provided, however, with respect to Options, the obligations set forth in the preceding sentence shall only anise if the Option Buyer exercises its Option in accordance with its terms. Seller shall be responsible for any costs or charges imposed on or associated with the Product or its delivery of the Product up to the Delivery Point. Buyer shall be responsible for any costs or charges imposed on or associated with the Product or its receipt at and from the Delivery Point.
Obligations and Deliveries. 1. Section 3.1 is amended by inserting at the end thereof the following: In the event that the California Independent System Operator moves from the current zonal congestion management system to a locational marginal pricing congestion management system, then the Parties agree to negotiate in good faith the designation of a new, mutually agreed-upon Delivery Point that equitably shares between the Parties the economic benefits and burdens created by such changed market structure in a manner that most closely resembles the overall balance between the Parties of the economic benefits and burdens at the South Path 15 Delivery Point in the zonal congestion management system in existence as of the Effective Date of this Master Agreement.
