Procedure Where Parties Cannot Agree to Charges Sample Clauses

Procedure Where Parties Cannot Agree to Charges. If the Parties fail to agree on any change to rates or charges (including transmission and other charges) provided for in this section 14, the non-Federal Parties hereto who are subject to the jurisdiction of the Federal Energy Regulatory Commission (“FERC”) with respect to any such rate or charge shall submit the matter on or before the following January 1 to FERC for determination, pursuant to the standards set forth in Section 205 of the Federal Power Act, of the rate or charge to be made by the Parties; and the other Parties hereto agree, insofar as they may lawfully do so, that the charges to be made by them shall not be in excess of the applied rate or charge so determined by FERC; provided that any of such other Parties may, but shall not be obligated to, reduce any rate or charge in effect at the time of such submission. Each Party hereby gives its irrevocable consent to the intervention by all other Parties in any such proceeding before FERC. After rates and charges are agreed upon by all of the Parties or are finally determined by FERC pursuant to this subsection 14(i), each Party shall diligently pursue obtaining all necessary regulatory and administrative review, approvals and authorizations necessary to effectuate such rate or charge with respect to such Party. Any FERC-determined rate or charge shall become effective at the beginning of the Operating Year simultaneously following receipt of all regulatory and administrative approvals and authorizations necessary to effectuate such rate or charge with respect to each of the Parties.
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Related to Procedure Where Parties Cannot Agree to Charges

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  • Review of Agreement Each party acknowledges that it has had time to review this agreement and, as desired, consult with counsel. In the interpretation of this agreement, no adverse presumption shall be made against any party on the basis that it has prepared, or participated in the preparation of, this agreement.

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