Common use of Settlement of Deposit(s) Clause in Contracts

Settlement of Deposit(s). The deposit provided in accordance with Section 2.2 of this Agreement shall be applied to the prudent costs of the CAISO in implementing [Short Legal Name] as an EDAM Entity in the Day-Ahead Market. If the actual costs of the implementation of [Short Legal Name] are greater than the initial deposit provided by [Short Legal Name], the CAISO will invoice [Short Legal Name] for an additional deposit amount to cover expenses. Payment of invoices shall be due no later than thirty (30 days) after the date of receipt. Any invoice payment past due will accrue interest, per annum, calculated in accordance with 5 C.F.R. 1315.10. At the end of the implementation, the CAISO will provide a report that details deposit(s) received, actual costs incurred, and applicable interest earnings (on deposit balance) for each implementation project. Interest will be calculated at the end of the implementation project, from the time the deposit(s) was received until the implementation is completed. The calculation will be based on the average earning of the bank account, in which the deposit is held, on the remaining amount of the deposit. Any unused deposit remaining after the implementation is completed plus interest on the remaining deposit will be returned to [Short Legal Name] within ninety (90) calendar days after the implementation is completed; the CAISO and [Short Legal Name] approve the completion; and all required documents for the refund are received by the CAISO. All refunds will be processed following the CAISO’s generally accepted accounting practices. Any deadline for CAISO action will be tolled to the extent [Short Legal Name] has not provided the CAISO with the appropriate documents to facilitate an eligible refund. In the event this agreement is terminated by either party or both parties after [Short Legal Name]’s implementation has begun, then the CAISO will make every attempt to halt work and related costs on the implementation as soon as practical and begin the refund process for any payments provided by [Short Legal Name] in excess of costs incurred by the CAISO, if applicable.

Settlement of Deposit(s). The deposit provided in accordance with Section 2.2 of this Agreement shall be applied to the prudent costs of the CAISO in implementing [Short Legal Name] as an EDAM EIM Sub-Entity in the DayReal-Ahead Time Market. If the actual costs of the implementation of [Short Legal Name] are greater than the initial deposit provided by [Short Legal Name], the CAISO will invoice [Short Legal Name] for an additional deposit amount to cover expenses. Payment of invoices Iinvoices shall be due no later than thirty (30 days) after the date of receipt. Any invoice payment past due will accrue interest, per annum, calculated in accordance with 5 C.F.R. 1315.10. At the end of the implementation, the CAISO will provide a report that details deposit(s) received, actual costs incurred, and applicable interest earnings (on deposit balance) for each implementation project. Interest will be calculated at the end of the implementation project, from the time the deposit(s) was received until the implementation is completed. The calculation will be based on the average earning of the bank account, in which the deposit is held, on the remaining amount of the deposit. Any unused deposit remaining after the implementation is completed plus interest on the remaining deposit will be returned to [Short Legal Name] within ninety (90) calendar days after the implementation is completed; the CAISO and [Short Legal Name] approve the completion; and all required documents for the refund are received by the CAISO. All refunds will be processed following the CAISO’s generally accepted accounting practices. Any CAISO deadline for CAISO action will be tolled to the extent [Short Legal Name] has not provided the CAISO with the appropriate documents to facilitate an eligible refund. In the event this agreement is terminated by either party or both parties after [Short Legal Name]’s implementation has begun, begun then the CAISO will make every attempt to halt work and related costs on the implementation as soon as practical and begin the refund process for any payments provided by [Short Legal Name] in excess of costs incurred by the CAISO, if applicable.

Settlement of Deposit(s). The deposit provided in accordance with Section 2.2 of this Agreement shall be applied to the prudent costs of the CAISO in implementing [Short Legal Name] as an EDAM EIM Sub-Entity in the DayReal-Ahead Time Market. If the actual costs of the implementation of [Short Legal Name] are greater than the initial deposit provided by [Short Legal Name], the CAISO will invoice [Short Legal Name] for an additional deposit amount to cover expenses. Payment of invoices Invoices shall be due no later than thirty (30 days) after the date of receipt. Any invoice payment past due will accrue interest, per annum, calculated in accordance with 5 C.F.R. 1315.10. At the end of the implementation, the CAISO will provide a report that details deposit(s) received, actual costs incurred, and applicable interest earnings (on deposit balance) for each implementation project. Interest will be calculated at the end of the implementation project, from the time the deposit(s) was received until the implementation is completed. The calculation will be based on the average earning of the bank account, in which the deposit is held, on the remaining amount of the deposit. Any unused deposit remaining after the implementation is completed plus interest on the remaining deposit will be returned to [Short Legal Name] within ninety (90) calendar days after the implementation is completed; the CAISO and [Short Legal Name] approve the completion; and all required documents for the refund are received by the CAISO. All refunds will be processed following the CAISO’s generally accepted accounting practices. Any CAISO deadline for CAISO action will be tolled to the extent [Short Legal Name] has not provided the CAISO with the appropriate documents to facilitate an eligible refund. In the event this agreement is terminated by either party or both parties after [Short Legal Name]’s implementation has begun, begun then the CAISO will make every attempt to halt work and related costs on the implementation as soon as practical and begin the refund process for any payments provided by [Short Legal Name] in excess of costs incurred by the CAISO, if applicableprocess.

Settlement of Deposit(s). The deposit provided in accordance with Section 2.2 of this Agreement shall be applied to the prudent costs of the CAISO in implementing [Short Legal Name] PacifiCorp as an EDAM Entity in the Day-Day- Ahead Market. If the actual costs of the implementation of [Short Legal Name] PacifiCorp are greater than the initial deposit provided by [Short Legal Name]PacifiCorp, the CAISO will invoice [Short Legal Name] PacifiCorp for an additional deposit amount to cover expenses. Payment of invoices shall be due no later than thirty (30 days30) days after the date of receipt. Any invoice payment past due will accrue interest, per annum, calculated in accordance with 5 C.F.R. 1315.10. At the end of the implementation, the CAISO will provide a report that details deposit(s) received, actual costs incurred, and applicable interest earnings (on deposit balance) for each implementation project. Interest will be calculated at the end of the implementation project, from the time the deposit(s) was received until the implementation is completed. The calculation will be based on the average earning of the bank account, in which the deposit is held, on the remaining amount of the deposit. Any unused deposit remaining after the implementation is completed plus interest on the remaining deposit will be returned to [Short Legal Name] PacifiCorp within ninety (90) calendar days after the implementation is completed; the CAISO and [Short Legal Name] PacifiCorp approve the completion; and all required documents for the refund are received by the CAISO. All refunds will be processed following the CAISO’s generally accepted accounting practices. Any deadline for CAISO action will be tolled to the extent [Short Legal Name] PacifiCorp has not provided the CAISO with the appropriate documents to facilitate an eligible refund. In the event this agreement is terminated by either party or both parties after [Short Legal Name]PacifiCorp’s implementation has begun, then the CAISO will make every attempt to halt work and related costs on the implementation as soon as practical and begin the refund process for any payments provided by [Short Legal Name] PacifiCorp in excess of costs incurred by the CAISO, if applicable.