Common use of Termination following a revision of the Contract Clause in Contracts

Termination following a revision of the Contract. In case the Contract is terminated pursuant to article 17, the sums corresponding to the cumulated Transmission Prices corresponding to the Subscribed Capacities which still have a Period of Validity to run at the time the Contract is terminated, will be deposited into a bank account opened specifically for this purpose by the TSO. During the remaining term of the Period of Validity for the Subscribed Capacities, the TSO agrees to make the Capacities Subscribed to by the Shipper available to third parties. The TSO will refund the Shipper up to one hundred per cent (100%) of the time-apportioned cumulative total of the Transmission Price corresponding to the Subscribed Capacities thus marketed and sold. The sums corresponding to any Subscribed Capacities that have not been marketed and sold, as well as the whole of the interest produced, will remain accrued to the TSO on the same date.

Appears in 4 contracts

Samples: Transmission Contract, Transmission Contract, assets.ctfassets.net

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