Common use of Overdue Payments; Defaults Clause in Contracts

Overdue Payments; Defaults. If any Party shall fail to make any payment (including any estimated payment) when due, such overdue payment shall accrue interest at the Interest Rate plus 2% from the due date to the date of payment. In addition, if Power Marketing is the defaulting Party with respect to payments for Power and continues to default with respect to any payment for thirty (30) days after notice of such default by the Owner Entity, the Owner Entity may (i) temporarily revoke Power Marketing's designation as Lead Participant, (ii) sell Power from the Station into the ISO or to another power marketer, (iii) terminate this Agreement, or (iv) take any other such actions as are available to it an law or equity with respect to such default. During the exercise of any remedy, including without limitation any revocation of Power Marketing's designation as Lead Participant, Power Marketing shall continue to be obligated to pay the Owner Entity for all Power not otherwise sold by the Owner Entity. In addition, except for a revocation (either permanent or temporary) of Power Marketing's designation as Lead Participant, Power marketing shall remain obligated to pay the Owner Entity for all Power generated by the Owner Entity pursuant to Dispatch effected by Power Marketing. The Owner Entity may exercise any one or more of such remedies, and no such exercise shall limit the Owner Entity's rights to exercise any other remedy.

Overdue Payments; Defaults. If any Party shall fail to make any payment (including any estimated payment) when due, such overdue payment shall accrue interest at the Interest Rate plus 2% from the due date to the date of payment. In addition, if Power Marketing is the defaulting Party with respect to payments for Power and continues to default with respect to any payment for thirty (30) days after notice of such default by the Owner Entity, the Owner Entity may (i) temporarily revoke Power Marketing's designation as Lead Participant, (ii) sell Power from the Station into the ISO or to another power marketer, (iii) terminate this Agreement, or (iv) take any other such actions as are available to it an law or equity with respect to such default. During the exercise of any remedy, including without limitation any revocation of Power Marketing's designation as Lead Participant, Power Marketing shall continue to be obligated to pay the Owner Entity for all Power not otherwise sold by the Owner Entity. In addition, except for a revocation (either permanent or temporary) of Power Marketing's designation as Lead Participant, . Power marketing shall remain obligated to pay the Owner Entity for all Power generated by the Owner Entity pursuant to Dispatch effected by Power Marketing. The Owner Entity may exercise any one or more of such remedies, and no such exercise shall limit the Owner Entity's rights to exercise any other remedy.

Overdue Payments; Defaults. If any Party shall fail to make any payment (including any estimated payment) when due, such overdue payment shall accrue interest at the Interest Rate plus 2% from the due date to the date of payment. In addition, if Power Marketing is the defaulting Party with respect to payments for Power and continues to default with respect to any payment for thirty (30) days after notice of such default by the Owner Entity, the Owner Entity may (i) temporarily revoke Power Marketing's designation as Lead Participant, (ii) sell Power from the Station into the ISO or to another power marketer, (iii) terminate this Agreement, or (iv) take any other such actions as are available to it an law or equity with respect to such default. During the exercise of any remedy, . including without limitation any revocation of Power Marketing's designation as Lead Participant, Power Marketing shall continue to be obligated to pay the Owner Entity for all Power not otherwise sold by the Owner Entity. In addition, except for a revocation (either permanent or temporary) of Power Marketing's designation as Lead Participant, Power marketing shall remain obligated to pay the Owner Entity for all Power generated by the Owner Entity pursuant to Dispatch effected by Power Marketing. The Owner Entity may exercise any one or more of such remedies, and no such exercise shall limit the Owner Entity's rights to exercise any other remedy.

Overdue Payments; Defaults. If any Party shall fail to make any payment (including any estimated payment) when due, such overdue payment shall accrue interest at the Interest Rate plus 2% from the due date to the date of payment. In addition, if Power Marketing is the defaulting Party with respect to payments for Power and continues to default with respect to any payment for thirty (30) days after notice of such default by the Owner Entity, the Owner Entity may (i) temporarily revoke Power Marketing's designation as Lead Participant, (ii) sell Power from the Station into the ISO or to another power marketer, (iii) terminate this Agreement, or (iv) take any other such actions as are available to it an law or equity with respect to such default. During the exercise of any remedy, including without limitation any revocation of Power Marketing's designation as Lead Participant, . Power Marketing shall continue to be obligated to pay the Owner Entity for all Power not otherwise sold by the Owner Entity. In addition, except for a revocation (either permanent or temporary) of Power Marketing's designation as Lead Participant, Power marketing shall remain obligated to pay the Owner Entity for all Power generated by the Owner Entity pursuant to Dispatch effected by Power Marketing. The Owner Entity may exercise any one or more of such remedies, and no such exercise shall limit the Owner Entity's rights to exercise any other remedy.

Overdue Payments; Defaults. If any Party shall fail to make any payment (including any estimated payment) when due, such overdue payment shall accrue interest at the Interest Rate plus 2% from the due date to the date of payment. In addition, if Power Marketing is the defaulting Party with respect to payments for Power and continues to default with respect to any payment for thirty (30) days after notice of such default by the Owner Entity, the Owner Entity may (i) temporarily revoke Power Marketing's designation as Lead Participant, (ii) sell Power from the Station into the ISO or to another power marketer, (iii) terminate this Agreement, or (iv) take any other such actions as are available to it an law or equity with respect to such default. During the exercise of any remedy, including without limitation any revocation of Power Marketing's designation as Lead Participant, Power Marketing shall continue to be obligated to pay the Owner Entity for all Power not otherwise sold by the Owner Entity. In addition, except for a revocation (either permanent or temporary) of Power Marketing's designation as Lead Participant, Power marketing shall remain obligated to pay the Owner Entity for all Power generated by the Owner Entity pursuant to Dispatch effected by Power Marketing. The Owner Entity may exercise any one or more of such remedies, and no such exercise shall limit the Owner Entity's rights to exercise any other remedy.the

Overdue Payments; Defaults. If any Party shall fail to make any payment (including any estimated payment) when due, such overdue payment shall accrue interest at the Interest Rate plus 2% from the due date to the date of payment. In addition, if Power Marketing is the defaulting Party with respect to payments for Power and continues to default with respect to any payment for thirty (30) days after notice of such default by the Owner Entity, the Owner Entity may (i) temporarily revoke Power Marketing's designation as Lead Participant, (ii) sell Power from the Station into the ISO or to another power marketer, (iii) terminate this Agreement, or (iv) take any other such actions as are available to it an law or equity with respect to such default. During the exercise of any remedy, including without limitation any revocation of Power Marketing's designation as Lead Participant, . Power Marketing shall continue to be obligated to pay the Owner Entity for all Power not otherwise sold by the Owner Entity. In addition, except for a revocation (either permanent or temporary) of Power Marketing's designation as Lead Participant, . Power marketing shall remain obligated to pay the Owner Entity for all Power generated by the Owner Entity pursuant to Dispatch effected by Power Marketing. The Owner Entity may exercise any one or more of such remedies, and no such exercise shall limit the Owner Entity's rights to exercise any other remedy.