Common use of Right to Suspend Due to Inadequate Funding Clause in Contracts

Right to Suspend Due to Inadequate Funding. Transmission Owner reserves the right, upon written notice to Customers, to suspend, at any time, work by Transmission Owner and the incurrence of additional expenses associated with the construction and installation of the CUU, upon the occurrence of a Default, including a Default caused by an Customer’s failure to provide irrevocable security pursuant to Article 6.1 that the remaining Customer(s) does not (do not) cure pursuant to Article 9. Any form of suspension by Transmission Owner shall not be barred by Articles 2.2.2, 2.2.3 or 9.2.2, nor shall it affect Transmission Owner’s right to terminate the work or this Agreement pursuant to Article 10. In such events, Customers shall be responsible for costs which Transmission Owner incurs as set forth in Article 2.2.3.

Right to Suspend Due to Inadequate Funding. Transmission Owner reserves the right, upon written notice to Customers, to suspend, at any time, work by Transmission Owner and the incurrence of additional expenses associated with the construction and installation of the CUUShared Network Upgrade, upon the occurrence of a Default, including a Default caused by an a Customer’s failure to provide irrevocable security pursuant to Article 6.1 that the remaining Customer(s) does not (do not) cure pursuant to Article 9. Any form of suspension by Transmission Owner shall not be barred by Articles 2.2.2, 2.2.3 or 9.2.2, nor shall it affect Transmission Owner’s right to terminate the work or this Agreement pursuant to Article 10. In such events, Customers shall be responsible for costs which Transmission Owner incurs as set forth in Article 2.2.3.

Right to Suspend Due to Inadequate Funding. Transmission Owner reserves the right, upon written notice to Customers, to suspend, at any time, work by Transmission Owner and the incurrence of additional expenses associated with the construction and installation of the CUUShared Network Upgrade, upon the occurrence of a Default, including a Default caused by an Customer’s failure to provide irrevocable security pursuant to Article 6.1 that the remaining Customer(s) does not (do not) cure pursuant to Article 9. Any form of suspension by Transmission Owner shall not be barred by Articles 2.2.2, 2.2.3 or 9.2.2, nor shall it affect Transmission Owner’s right to terminate the work or this Agreement pursuant to Article 10. In such events, Customers shall be responsible for costs which Transmission Owner incurs as set forth in Article 2.2.3.