Populus Substation Facilities Clause Samples
The 'Populus Substation Facilities' clause defines the specific infrastructure, equipment, and operational components associated with the Populus Substation within an agreement. This clause typically outlines what constitutes the substation facilities, such as transformers, switchgear, control systems, and related land or access rights, and may specify ownership, maintenance responsibilities, or usage rights. By clearly delineating what is included as part of the Populus Substation Facilities, the clause ensures all parties have a mutual understanding of the assets involved, thereby reducing the risk of disputes over scope or responsibility.
Populus Substation Facilities. Prior to the Effective Time of Closing, PacifiCorp, at its own cost and expense, will operate and maintain the Populus Substation Facilities, consistent with past practices and in accordance with Good Utility Practice, Governmental Requirements and Governmental Authorizations. From and after the Effective Time of Closing, the Populus Substation Facilities shall be operated and maintained in accordance with the Populus Joint Ownership and Operating Agreement.
Populus Substation Facilities. PacifiCorp will bear the risk of loss or damage to the Populus Substation Facilities prior to the Effective Time of Closing. From and after the Effective Time of Closing, the Parties will share in all Losses relating to the Populus Substation Facilities in accordance with the Populus Joint Ownership and Operating Agreement.