Common use of Special Maintenance and Capital Expenditures Clause in Contracts

Special Maintenance and Capital Expenditures. Within thirty (30) days after the date hereof, Seller and Purchaser shall mutually agree on a Schedule setting forth a month by month special maintenance and capital expenditure budget relating to the Assets for calendar years 1999 and 2000 (the "Budget"). The Budget will be divided into two parts; Category A items and Category B items. With respect to items listed under Category A, Seller agrees to use commercially reasonable efforts to cause MPC, to the extent Seller has the right to do so under the Colstrip Contracts, to conduct and complete such special maintenance and capital expenditures at the times set forth in the Budget. With respect to items listed under Category B, Seller shall cause MPC, to the extent Seller has the right to do so under the Colstrip Contracts, to conduct and complete such special maintenance and capital expenditures at such times as Seller and MPC shall determine in their reasonable discretion after consultation with Purchaser. With respect to emergency special maintenance and capital expenditure items not identified in the Budget that arise after the date hereof and prior to the Closing, Seller will cause MPC, to the extent Seller has the right to do so under the Colstrip Contracts, to consult with Purchaser and to conduct and complete any such emergency special maintenance and capital expenditure items in accordance with Good Utility Practice ("Emergency Expenditures").

Appears in 4 contracts

Samples: Asset Purchase Agreement (Puget Sound Energy Inc), Asset Purchase Agreement (Pp&l Resources Inc), Asset Purchase Agreement (Pp&l Inc)

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