Power Contract Amendments Clause Samples
The Power Contract Amendments clause outlines the procedures and conditions under which changes can be made to an existing power contract. Typically, this clause specifies who has the authority to propose amendments, the process for obtaining mutual agreement, and any required notice periods or documentation. For example, it may require both parties to sign a written agreement before any modifications become effective. The core function of this clause is to ensure that any alterations to the contract are made transparently and with the consent of all parties, thereby preventing misunderstandings or unauthorized changes.
Power Contract Amendments. The Power Contract is hereby amended as follows:
(a) In recognition of the sale of the Unit being effected pursuant to the APA and the intention of the parties to release Vermont Yankee from any further obligations with respect to operation of the Unit, the text of each of Sections 3, 4, 5, 6, 8, 9 and 10 of the Power Contract is hereby deleted and, in lieu thereof in each instance the words "Intentionally Deleted and This Section Left Blank" shall be inserted; provided, however, that the pre-existing text shall remain in effect for purposes of settling any accounts between the parties for periods prior to the Effective Date.
(b) A new section 10A is hereby inserted immediately following Section 10 to read as follows:
Power Contract Amendments