Regulatory Review and Approval Sample Clauses

Regulatory Review and Approval. (a) Seller shall submit this agreement to the Commission for review and approval of the agreement under Section 1‐75 of the Illinois Power Agency Act; and recovery by Buyer of the Contract Price payable by Buyer. Seller shall also submit to the Commission the formula rate (“Formula Rate”) that will use Seller’s Contract Price Components to determine the Monthly Contract Prices. The Parties acknowledge that for each Contract Year of this agreement, the Commission will determine the Contract Price Components and the Monthly Contract Price, based on the projections submitted by Seller and the Formula Rate. Exhibit 5.2(a) sets forth an example of the Formula Rate.

Regulatory Review and Approval. FASTNET, through its authorized representatives, shall have completed a satisfactory review of the practices and procedures of the Company including, but not limited to, environmental and land use practices, import and export laws, compliance with contracts and federal, state and local laws and regulations governing the respective operations of the Company, which review reflects compliance with all applicable laws governing the Company, disclosing no material actual or probable violations, compliance problems, required capital expenditures or other substantive environmental, real estate and land use related concerns and which review is otherwise satisfactory in all respects to FASTNET, in its sole discretion.

Regulatory Review and Approval. (a) Seller shall submit this agreement to the Commission for review and approval of the agreement under Section 1-75 of the Illinois Power Agency Act; and recovery by Buyer of the Contract Price payable by Buyer. Seller shall also submit to the Commission the formula rate (“Formula Rate”) that will use Seller’s Contract Price Components to determine the Monthly Contract Prices. The Parties acknowledge that for each Contract Year of this agreement, the Commission will determine the Contract Price Components and the Monthly Contract Price, based on the projections submitted by Seller and the Formula Rate. Exhibit 5.2(a) sets forth an example of the Formula Rate. (b) Seller shall request the Commission to, within 120 Days of the approval of this agreement, determine a rate of return for the Project based on a capital structure consisting of 55% debt and 45% equity, assuming a level capital recovery methodology as described in Attachment A to Exhibit 5.2(d). Seller shall request that the Commission’s determination of the rate of return take into account (i) rates of return received by clean coal generation facilities similar to the Project inside or outside of Illinois;

Regulatory Review and Approval. (a) If required by the Commission, Seller shall submit this agreement to the Commission for approval of the: (i) justness, reasonableness and prudence of the rates and terms hereof and (ii) recovery by Buyer of the Contract Price payable by Buyer from its Eligible Retail Customers, if applicable. If required by the Commission, Seller shall also submit to the Commission: (i) initial projections of its costs for the Project for the term of this agreement; and (ii) a formula rate (“Formula Rate”) that will use Seller’s costs projections to determine the Contract Price. The Parties acknowledge that based on the projections submitted by Seller and the Formula Rate, the Commission may determine the projected components of the Contract Price for each Contract Year of this agreement. Exhibit 5.2(a) sets forth an example of the Formula Rate. The final Formula Rate will be developed by Seller prior to approval of this agreement by the Commission. (b) Not later than 6 Months before the Commercial Operation Date expected by Seller, and 60 Days before the beginning of each succeeding Contract Year, Seller shall submit to the Commission, if required, projections of its costs for the Project and expected levels of dispatch for the next Contract Year. The Parties acknowledge that based on the projections submitted by Seller, the Commission may determine the projected components of the Contract Price for each Contract Year of this agreement by reviewing the following inputs to the Formula Rate as set forth in Exhibit 5.2(a):

Regulatory Review and Approval. (a) Seller shall submit this agreement to the Commission for review and approval of the agreement; and in the case of Electric Utility Buyers, full recovery by those Buyers of the Contract Price payable by Buyer from such customers, with such customers including, in the case of Electric Utilities, both Eligible Retail Customers and

Regulatory Review and Approval. (a) Seller shall submit this agreement to the Commission for review and approval of the agreement; and in the case of Electric Utility Buyers, full recovery by those Buyers of the Contract Price payable by Buyer from such customers, with such customers including, in the case of Electric Utilities, both Eligible Retail Customers and Non-Eligible Retail Customers. If required by the Commission, Seller shall also submit to the Commission (i) initial projections of its costs, revenues and credits (“Contract Price Components”) for the Term of this agreement; and (ii) the formula rate (“Formula Rate”) that will use Seller’s Contract Price Components to determine the Monthly Contract Prices. The Parties acknowledge that for each Contract Year of this agreement, the Commission will determine the Contract Price Components and the Monthly Contract Price, based on the projections submitted by Seller and the Formula Rate. Exhibit 5.2(a) sets forth an example of the Formula Rate. The Parties further acknowledge that the costs, revenues, and credits underlying the Contract Price Components may be subject to periodic audit and review for prudence and reasonableness, in a manner to be determined by the Commission. (b) Pursuant to the Commission’s December 19, 2012 Order in Docket 12-0544, aSeller shall request the Commission to determine a rate of return Levelized Fixed Carrying Charge Rate for the Project shall be determine based on a capital structure consisting of 55% debt and 45% equity, a capital recovery period of 20 years, a rate of return on common equity of 10%, an actual cost of debt capital approved by the Commission following Financial Close, and a Levelized Fixed Carrying Charge Rate Calculation methodology approved by the Commission in its _[Date]_ Order in Docket 13-0034, which is described in Attachment A to Exhibit 5.2(d) of this agreement. Seller shall request that the Commission’s determination of the rate of return take into account (i) return on common equity received by clean coal generation facilities similar to the Project inside or outside of Illinois; (ii) the rate of return on common equity that the Commission deems sufficient for the Project to attract capital; and (iii) the need to protect Illinois ratepayers. Seller shall request the debt component of the rate of return for the Project be adjusted 6 Months prior to the anticipated Commercial Operation Date to account for changes in (i) the applicable 30-Year Treasury rate (or if this agreemen...

Regulatory Review and Approval. (a) Seller shall submit this agreement to the Commission for review and approval of the agreement under Section 1-75 of the Illinois Power Agency Act; and full 43recovery by Buyer of the Contract Price payable by Buyer. 44 from its customers (for Electric Utilities, customers shall include Eligible Retail Customers and Non-Eligible Retail Customers). If required by the Commission, 45Seller shall also submit to the Commission46 the47: (i) initial projections of its costs, revenues and credits (“Contract Price Components”) for the Project for the term of this agreement; and (ii) a48 formula rate (“Formula Rate”) that will use Seller’s Contract Price Components to determine the Monthly Contract Prices. The Parties acknowledge that for each Contract Year of this agreement,49 the Commission will determine the50 Project51 Contract Price Components and the Monthly Contract Price, based on the projections submitted by Seller and the 52Formula53Fomula54 Rate. 55 Exhibit 5.2(a) sets forth an example of the Formula Rate. (b) Seller shall request the Commission to, within 120 Days of the approval of this agreement, determine a rate of return for the Project based on a capital structure consisting of 55% debt and 45% equity, assuming a level capital recovery methodology as described in Attachment A to Exhibit 5.2(d). Seller shall request that the Commission’s determination of the rate of return take into account (i) rates of return received by clean coal generation facilities similar to the Project inside or outside of Illinois;

Regulatory Review and Approval. Integra, through its authorized representatives, shall have completed a satisfactory review of the practices and procedures of the Company including, but not limited to, environmental and land use practices, import and export laws, compliance with contracts and federal, state and local laws and regulations governing the respective operations of the Company, which review reflects compliance with all applicable laws governing the Company, disclosing no material actual or probable violations, compliance problems, required capital expenditures or other substantive environmental, real estate and land use related concerns and which review is otherwise satisfactory in all respects to Integra, in its sole discretion.