Common use of Termination, Removal and Reinstatement Clause in Contracts

Termination, Removal and Reinstatement. The Board of Directors may terminate the membership of any Member in accordance with the Membership Agreement. The President shall promptly give written notice of the removal to all other Members. Any former Member seeking to rejoin SPP shall apply to the Board of Directors for reinstatement. In its application for reinstatement, the former Member shall: (a) provide evidence that it has fully paid any accrued financial obligation to SPP; (b) demonstrate it has corrected the reason for its removal; (c) establish that it will be in compliance with SPP membership requirements; and (d) deliver an executed Membership Agreement to the President. Effective Date: 8/5/2010 - Docket #: ER10-2145

Termination, Removal and Reinstatement. The Board of Directors may terminate the membership of any Member in accordance with the Membership Agreement. The President shall promptly give written notice of the removal to all other Members. Any former Member seeking to rejoin SPP shall apply to the Board of Directors for reinstatement. In its application for reinstatement, the former Member shall: (a) provide evidence that it has fully paid any accrued financial obligation to SPP; (b) demonstrate it has corrected the reason for its removal; (c) establish that it will be in compliance with SPP membership requirements; and (d) deliver an executed Membership Agreement to the President. Effective Date: 8/5/2010 - Docket #: ER10-2145.