Role of the Office of the Interconnection Sample Clauses

Role of the Office of the Interconnection. Financial Transmission Rights auctions shall be conducted by the Office of the Interconnection in accordance with standards and procedures set forth in the PJM Manuals, such standards and procedures to be consistent with the requirements of this Schedule. PJMSettlement shall be the Counterparty to the purchases and sales of Financial Transmission Rights arising from such auctions, provided however, that PJMSettlement shall not be a contracting party to any subsequent bilateral transfers of Financial Transmission Rights between Market Participants. The conversion of an Auction Revenue Right to a Financial Transmission Right pursuant to this section 7 shall not constitute a purchase or sale transaction to which PJMSettlement is a contracting party. Any Financial Transmission Rights auctions conducted to liquidate a defaulting Member’s Financial Transmission Rights portfolio shall be conducted by the Office of the Interconnection in accordance with the procedures set forth in section 7.3.9 below, and as may be further described in the PJM Manuals.
Sample 1
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Role of the Office of the Interconnection. Fixed Transmission Rights auctions shall be conducted by the Office of the Interconnection in accordance with standards and procedures set forth in the PJM Manuals, such standards and procedures to be consistent with the requirements of this Schedule.
Sample 1

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