Common use of Ringfence Clause in Contracts

Ringfence. Evidence satisfactory to the Sleeve Provider that the Transition Agreement, employment arrangements with respect to management of the Reliant Retail Obligors, transfer of retail supply and hedging contracts, and office space leasing arrangements each have been completed on documentation or conditions reasonable satisfactory to the Sleeve Provider and the remaining elements of the ring fence restructuring of RERH Holdings and its Subsidiaries have otherwise been completed on documentation or conditions reasonably satisfactory to the Sleeve Provider; provided, however that (i) the contribution of RERH and its Subsidiaries to RERH Holdings shall occur prior to the Xxxxxxx Parties receiving any interest in RERH Holdings, (ii) employees that are being transferred to RERH Holdings or any of its Subsidiaries and whose services are provided for in the Transition Agreement shall not be required to transfer until January 1, 2007, and (iii) the ISDA confirmations under the XXXX/REPS Power Purchase Agreement relating to “Upton Wind” and under the RES/REPS Power Purchase Agreement relating to the Channelview Services Agreement shall or shall be amended to have delivery or settlement dates, as applicable, ending on or before the third anniversary of the then current expiry date of the Scheduled Term.

Ringfence. Evidence satisfactory to the Sleeve Provider REPS that the Transition Agreement, employment arrangements with respect to management of the Reliant Retail Obligors, transfer of retail supply and hedging contracts, and office space leasing arrangements each have been completed on documentation or conditions reasonable reasonably satisfactory to the Sleeve Provider REPS and the remaining elements of the ring fence restructuring of RERH Holdings and its Subsidiaries have otherwise been completed on documentation or conditions reasonably satisfactory to the Sleeve ProviderREPS; provided, however that (i) the contribution of RERH and its Subsidiaries to RERH Holdings shall occur prior to the Xxxxxxx Parties receiving any interest in RERH Holdings, (ii) employees that are being transferred to RERH Holdings or any of its Subsidiaries and whose services are provided for in the Transition Agreement shall not be required to transfer until January 1, 2007, and (iii) the ISDA confirmations under the XXXX/REPS Power Purchase Agreement relating to “Upton Wind” and under the RES/REPS Power Purchase Agreement relating to the Channelview Services Agreement shall or shall be amended to have delivery or settlement dates, as applicable, ending on or before the third anniversary of the then current expiry date of the Scheduled Term.

Ringfence. Evidence satisfactory to the Sleeve Provider Lender that the Transition Agreement, employment arrangements with respect to management of the Reliant Retail Obligors, transfer of retail supply and hedging contracts, and office space leasing arrangements each have been completed on documentation or conditions reasonable reasonably satisfactory to the Sleeve Provider Lender and the remaining elements of the ring fence restructuring of RERH Holdings and its Subsidiaries have otherwise been completed on documentation or conditions reasonably satisfactory to the Sleeve ProviderLender; provided, provided ,however that (i) the contribution of RERH and its Subsidiaries to RERH Holdings shall occur prior to the Xxxxxxx Parties receiving any interest in RERH Holdings, (ii) employees that are being transferred to RERH Holdings or any of its Subsidiaries and whose services are provided for in the Transition Agreement shall not be required to transfer until January 1, 2007, and (iii) the ISDA confirmations under the XXXX/REPS Power Purchase Agreement relating to “Upton Wind” and under the RES/REPS Power Purchase Agreement relating to the Channelview Services Agreement shall or shall be amended to have delivery or settlement dates, as applicable, ending on or before the third anniversary of the then current expiry date of the Scheduled Term.

Ringfence. Evidence satisfactory to the Sleeve Provider Lender that the Transition Agreement, employment arrangements with respect to management of the Reliant Retail Obligors, transfer of retail supply and hedging contracts, and office space leasing arrangements each have been completed on documentation or conditions reasonable reasonably satisfactory to the Sleeve Provider Lender and the remaining elements of the ring fence restructuring of RERH Holdings and its Subsidiaries have otherwise been completed on documentation or conditions reasonably satisfactory to the Sleeve ProviderLender; provided, however that (i) the contribution of RERH and its Subsidiaries to RERH Holdings shall occur prior to the Xxxxxxx Parties receiving any interest in RERH Holdings, (ii) employees that are being transferred to RERH Holdings or any of its Subsidiaries and whose services are provided for in the Transition Agreement shall not be required to transfer until January 1, 2007, and (iii) the ISDA confirmations under the XXXX/REPS Power Purchase Agreement relating to “Upton Wind” and under the RES/REPS Power Purchase Agreement relating to the Channelview Services Agreement shall or shall be amended to have delivery or settlement dates, as applicable, ending on or before the third anniversary of the then current expiry date of the Scheduled Term.