PPA Modification Right Clause Samples

PPA Modification Right. (a) By notice dated not later than September 1, 2004, Purchaser may, at its sole option and discretion (in accordance with the terms of the PPA), reduce the amount of Tier 1 Capac- ity specified in Appendix 1 of the PPA for all months in calendar year 2005 by up to 200 MW, provided that the IP Load, as defined and calculated in the PPA, shall have been reduced as a result of retail customers of IPC switching electricity suppliers or terminating business operations. In the event IPC releases capacity in calendar year 2005 pursuant to the provisions of this Section 5.23(a), such release shall apply in the same amount for calendar year 2006. Any written notice of Released Capacity (as defined in the PPA) shall include reasonable proof of the net reduction in IP Load, and the amount of Released Capacity shall not be greater than the amount of the net reduction in IP Load. (b) By notice dated not later than September 1, 2005, Purchaser may, at its sole option and discretion (in accordance with the terms of the PPA), reduce the amount of Tier 1 Capacity specified in Appendix 1 of the PPA for all months in calendar year 2006 by an amount not to exceed the difference between 200 MW and the amount of capacity released, if any, pursuant to Purchaser's election under Section 5.23(a), provided that the IP Load, as defined and calculated in the PPA, shall have been reduced as a result of retail customers of IPC switching electricity suppliers or terminating business operations. Any written notice of Released Capacity (as defined in the PPA) shall include reasonable proof of the net reduction in IP Load, and the amount of Released Capacity shall not be greater than the amount of the net reduction in IP Load. (c) Notwithstanding anything else in this Agreement, no election by Purchaser pursuant to this Section 5.23 shall serve as a basis for assertion that a condition to the Closing has not been satisfied or for indemnification pursuant to Section 9.1.
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Related to PPA Modification Right

  • Waiver, Modification, Etc No provision or term of this Amendment may be modified, altered, waived, discharged or terminated orally, but only by an instrument in writing executed by the party against whom such modification, alteration, waiver, discharge or termination is sought to be enforced.

  • Agreement Modification 15.1 Any agreement to change the terms of this Agreement in any way shall be valid only if the change is made in writing and approved by mutual agreement of authorized representatives of the parties hereto.

  • Waiver; Modification Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

  • Amendment; Modification; Waiver This Agreement shall not be amended, nor shall any provision of this Agreement be considered modified or waived, unless evidenced by a writing signed by the parties hereto, and in compliance with applicable provisions of the Investment Company Act.

  • CONTRACT MODIFICATION The following is adopted as the new CTC for the Contract effective December 29, 2022: