Common use of Timing of Withdrawal Clause in Contracts

Timing of Withdrawal. The withdrawal of MGE Power or WPPI, or both, as the case may be, pursuant to Section 12.2(a)(i) shall occur on such date (the “Withdrawal Date”) and at such time and place as is mutually agreeable to ERGS SC and the withdrawing Party or Parties. In no event shall the Withdrawal Date be earlier than 60 days or later than 90 days after the date on which a withdrawing Party gives notice of its election to withdraw. If both MGE Power and WPPI elect to withdraw from the Project, then the Parties shall use commercially reasonable efforts to have both withdrawals occur on the same Withdrawal Date.

Appears in 2 contracts

Samples: Ownership Agreement (Madison Gas & Electric Co), Ownership Agreement (Mge Energy Inc)

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Timing of Withdrawal. The withdrawal of MGE Power or WPPI, or both, as the case may be, pursuant to Section 12.2(a)(i12.2(c)(i) shall occur on such date (the “Project Withdrawal Date”) and at such time and place as is mutually agreeable to ERGS SC and the withdrawing Party Unit 2 Owner or PartiesOwners. In no event shall the Project Withdrawal Date be earlier than 60 days or later than 90 days after the date on which a withdrawing Party Unit 2 Owner gives notice of its election to withdraw. If both MGE Power and WPPI elect to withdraw from the Project, then the Parties Unit 2 Owners shall use commercially reasonable efforts to have both withdrawals occur on the same Project Withdrawal Date.

Appears in 1 contract

Samples: Ownership Agreement (Madison Gas & Electric Co)

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Timing of Withdrawal. The withdrawal of MGE Power or WPPI, or both, as the case may be, pursuant to Section 12.2(a)(i12.2(c)(i) shall occur on such date (the “Project Withdrawal Date”) and at such time and place as is mutually agreeable to ERGS SC and the withdrawing Party Unit 1 Owner or PartiesOwners. In no event shall the Project Withdrawal Date be earlier than 60 days or later than 90 days after the date on which a withdrawing Party Unit 1 Owner gives notice of its election to withdraw. If both MGE Power and WPPI elect to withdraw from the Project, then the Parties Unit 1 Owners shall use commercially reasonable efforts to have both withdrawals occur on the same Project Withdrawal Date.

Appears in 1 contract

Samples: Ownership Agreement (Mge Energy Inc)

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