Common use of Qualified Decommissioning Funds Clause in Contracts

Qualified Decommissioning Funds. (a) Except as disclosed on Schedule 3.16, the Company is the sole owner of the AmerGen Clinton-1 Qualified Fund, AmerGen Three Mile Island-1 Qualified Fund and AmerGen Oyster Creek Qualified Fund (collectively, the Qualified Decommissioning Funds), each of which is, and since its inception has been, treated as a nuclear decommissioning reserve fund in accordance with Code Section 468A and is therefore treated as a corporation in accordance with Code Section 468A(e)(2)(D). Each of the Company’s Qualified Decommissioning Funds is a trust, validly existing and in good standing under the laws of the jurisdiction of its formation with all requisite authority to conduct its affairs as it now does. Seller has heretofore made available to Buyer a copy of the Decommissioning Trust Agreement provided by the Company as in effect on the date of this Agreement. Seller agrees to furnish Buyer with copies of all amendments to the Decommissioning Trust Agreement adopted after the date of this Agreement promptly after each such amendment has been adopted and provided by the Company to Seller. Each of the Company’s Qualified Decommissioning Funds satisfies the requirements necessary for such fund to be treated as a “Nuclear Decommissioning Reserve Fund” within the meaning of Code section 468A(a) and as a “nuclear decommissioning fund” and a “qualified nuclear decommissioning fund” within the meaning of Treas. Reg. Section 1.468 A-1 (b)(3). Each such fund is in compliance in all material respects with all applicable rules and regulations of any Governmental Authority having jurisdiction (including, without limitation, the NRC, the PaPUC, the NJBPU, the FERC and the ICC). Except as set forth in Schedule 3.16, none of the Company’s Qualified Decommissioning Funds has engaged in any acts of “self-dealing” as defined in Treas. Reg. Section 1,468A-5(b)(2). No “excess contribution,” as defined in Treas. Reg. Section 1.468A-5(c)(2)(ii), has been made to the Company’s Qualified Decommissioning Funds which has not been withdrawn within the period provided under Treas. Reg. Section 1.468A-5(c)(2)(i) for withdrawals of excess contributions to be made without resulting in a disqualification of the funds under Treas. Reg. Section 1.468A-5(c)(1).

Qualified Decommissioning Funds. (a) Except as disclosed on Schedule 3.16, With respect to all periods prior to the Company is the sole owner of the AmerGen Clinton-1 Qualified Fund, AmerGen Three Mile Island-1 Qualified Fund and AmerGen Oyster Creek Qualified Fund Closing Date: (collectively, the i) each Seller's Qualified Decommissioning Funds), each of which is, and since its inception has been, treated as a nuclear decommissioning reserve fund in accordance with Code Section 468A and is therefore treated as a corporation in accordance with Code Section 468A(e)(2)(D). Each of the Company’s Qualified Decommissioning Funds Fund is a trust, validly existing and in good standing under the laws of the jurisdiction State of its formation New York with all requisite authority to conduct its affairs as it now does. Seller has heretofore made available to Buyer a copy of the Decommissioning Trust Agreement provided by the Company as in effect on the date of this Agreement. Seller agrees to furnish Buyer with copies of all amendments to the Decommissioning Trust Agreement adopted after the date of this Agreement promptly after ; (ii) each such amendment has been adopted and provided by the Company to Seller. Each of the Company’s 's Qualified Decommissioning Funds Fund satisfies the requirements necessary for such fund Fund to be treated as a “"Nuclear Decommissioning Reserve Fund” " within the meaning of Code section Section 468A(a) and as a “"nuclear decommissioning fund” Decommissioning Fund" and a “"qualified nuclear decommissioning fund” Decommissioning Fund" within the meaning of Treas. Reg. Section 1.468 A-1 (b)(3S) 1.468A-1(b)(3). Each ; (iii) such fund Fund is in compliance in all material respects with all applicable rules and regulations of any Governmental Authority having jurisdiction (including, without limitation, the NRC, the PaPUC, the NJBPU, the FERC NYPSC and the ICC). Except as set forth in Schedule 3.16IRS, none of the Company’s and each Seller's Qualified Decommissioning Funds Fund has not engaged in any acts of “"self-dealing” " as defined in Treas. Reg. Section 1,468A-5(b)(2(S) 1.468A- 5(b)(2). No “; (iv) no "excess contribution,” " as defined in Treas. Reg. Section 1.468A-5(c)(2)(ii(S) 1.468A- 5(c)(2)(ii), has been made to the Company’s each Seller's Qualified Decommissioning Funds Fund which has not been withdrawn within the period provided under Treas. Reg. Section 1.468A-5(c)(2)(i(S) for withdrawals of excess 1.468A- 5(c)(2)(i); and (v) each Seller has made timely and valid elections to make annual contributions to the Qualified Decommissioning Fund since 1984 and each Seller has heretofore delivered copies of such elections to Buyer. Each Seller has heretofore delivered to Buyer a copy of each Seller's Decommissioning Trust Agreement as in effect on the date of this Agreement. Each Seller agrees not to amend Seller's Decommissioning Trust Agreement between the date of this Agreement and the Closing Date without Buyer's prior written consent, which shall not be made without resulting unreasonably withheld, except to permit the transfer referred to in a disqualification of the funds under Treas. Reg. Section 1.468A-5(c)(16.12(a).

Qualified Decommissioning Funds. (a) Except as disclosed on Schedule 3.16, the Company is the sole owner of the AmerGen Clinton-1 Qualified Fund, AmerGen Three Mile Island-1 Qualified Fund and AmerGen Oyster Creek Qualified Fund (collectively, the Qualified Decommissioning Funds), each of which is, and since its inception has been, treated as a nuclear decommissioning reserve fund in accordance with Code Section 468A and is therefore treated as a corporation in accordance with Code Section 468A(e)(2)(D). Each of the Company’s Qualified Decommissioning Funds is a trust, validly existing and in good standing under the laws of the jurisdiction of its formation with all requisite authority to conduct its affairs as it now does. Seller has heretofore made available to Buyer a copy of the Decommissioning Trust Agreement provided by the Company as in effect on the date of this Agreement. Seller agrees to furnish Buyer with copies of all amendments to the Decommissioning Trust Agreement adopted after the date of this Agreement promptly after each such amendment has been adopted and provided by the Company to Seller. Each of the Company’s Qualified Decommissioning Funds satisfies the requirements necessary for such fund to be treated as a “Nuclear Decommissioning Reserve Fund” within the meaning of Code section 468A(a468 A(a) and as a “nuclear decommissioning fund” and a “qualified nuclear decommissioning fund” within the meaning of Treas. Reg. Section 1.468 A-1 (b)(31.468A-l(b)(3). Each such fund is in compliance in all material respects with all applicable rules and regulations of any Governmental Authority having jurisdiction (including, without limitation, the NRC, the PaPUC, the NJBPU, the FERC and the ICC). Except as set forth in Schedule 3.16, none of the Company’s Qualified Decommissioning Funds has engaged in any acts of “self-dealing” as defined in Treas. Reg. Section 1,468A-5(b)(21.468A-5(b)(2). No “excess contribution,” as defined in Treas. Reg. Section 1.468A-5(c)(2)(ii), has been made to the Company’s Qualified Decommissioning Funds which has not been withdrawn within the period provided under Treas. Reg. Section 1.468A-5(c)(2)(i) for withdrawals of excess contributions to be made without resulting in a disqualification of the funds under Treas. Reg. Section 1.468A-5(c)(1).to

Qualified Decommissioning Funds. (a) Except as disclosed on Schedule 3.16, the Company is the sole owner of the AmerGen Clinton-1 Clinton-l Qualified Fund, AmerGen Three Mile Island-1 Island-l Qualified Fund and AmerGen Oyster Creek Qualified Fund (collectively, the Qualified Decommissioning Funds), each of which is, and since its inception has been, treated as a nuclear decommissioning reserve fund in accordance with Code Section 468A and is therefore treated as a corporation in accordance with Code Section 468A(e)(2)(D). Each of the Company’s 's Qualified Decommissioning Funds is a trust, validly existing and in good standing under the laws of the jurisdiction of its formation with all requisite authority to conduct its affairs as it now does. Seller has heretofore made available to Buyer a copy of the Decommissioning Trust Agreement provided by the Company as in effect on the date of this Agreement. Seller agrees to furnish Buyer with copies of all amendments to the Decommissioning Trust Agreement adopted after the date of this Agreement promptly after each such amendment has been adopted and provided by the Company to Seller. Each of the Company’s 's Qualified Decommissioning Funds satisfies the requirements necessary for such fund to be treated as a “"Nuclear Decommissioning Reserve Fund” " within the meaning of Code section 468A(a) and as a “"nuclear decommissioning fund” " and a “"qualified nuclear decommissioning fund” " within the meaning of Treas. Reg. Section 1.468 A-1 1.468A- I (b)(3). Each such fund is in compliance in all material respects with all applicable rules and regulations of any Governmental Authority having jurisdiction (including, without limitation, the NRC, the PaPUC, the NJBPU, the FERC and the ICC). Except as set forth in Schedule 3.16, none of the Company’s 's Qualified Decommissioning Funds has engaged in any acts of “"self-dealing” " as defined in Treas. Reg. Section 1,468A-5(b)(21.468A-5(b)(2). No “"excess contribution,” " as defined in Treas. Reg. Section 1.468A-5(c)(2)(ii), has been made to the Company’s 's Qualified Decommissioning Funds which has not been withdrawn within the period provided under Treas. Reg. Section 1.468A-5(c)(2)(i) for withdrawals of excess contributions to be made without resulting in a disqualification of the funds under Treas. Reg. Section 1.468A-5(c)(11.468A-5(c)(l).