Common use of Validity; Required Regulatory Approvals Clause in Contracts

Validity; Required Regulatory Approvals. Each Party hereby represents that the provisions of this Agreement constitute valid and legally binding obligations of such Party and are enforceable in accordance with their terms. The obligations of each Party under this Agreement are expressly contingent upon (i) each Party receiving all approvals, authorizations, consents, franchises, Permits, and licenses from any local, state, or federal regulatory agency or other governmental agency that may be required for such Party in connection with the performance of such Party’s obligations under or in connection with this Agreement (the “Required Regulatory Approvals”), (ii) each Required Regulatory Approval being granted without the imposition of any modification or condition of the terms of this Agreement or the subject transactions, unless such modification(s) or condition(s) are agreed to by both Parties in their respective sole discretion, and (iii) all applicable appeal periods with respect to the Required Regulatory Approvals having expired without any appeal having been made or, if such an appeal has been made, a full, final and non-appealable determination having been made regarding same by a court or other administrative body of competent jurisdiction, which determination disposes of or otherwise resolves such appeal (or appeals) to the satisfaction of both Parties in their respective sole discretion. If any application or request is made in connection with seeking any Required Regulatory Approval and is denied, or is granted in a form, or subject to conditions, that either Party rejects, in its sole discretion, as unacceptable, this Agreement shall terminate as of the date that a Party notifies the other Party of such denial or rejection, in which event the obligations of the Parties under this Agreement shall cease as of such date and this Agreement shall terminate, subject to Customer’s obligation to pay Company in accordance with the terms of this Agreement (including, without limitation, Section 20.2 hereof) for all Company Reimbursable Costs incurred. All of the Company’s actual costs in connection with seeking Required Regulatory Approvals shall be included within the meaning of the term Company Reimbursable Costs and shall be paid for by Customer. Notices All formal notices, demands, or communications under this Agreement shall be submitted in writing either by hand, registered or certified mail, or recognized overnight mail carrier to: To Customer: Xx. Xxxxxx Xxxxxx Acting VP – Project Management New York Power Authority 000 Xxxx Xxxxxx Xxxxx Xxxxxx, XX 00000 (000) 000-0000 To Company: Xx. Xxxxxxx Xxxxx Director, Transmission Commercial Services National Grid 00 Xxxxxx Xxxx Xxxxxxx, XX 00000 (000) 000-0000 [Signatures are on following page.]

Validity; Required Regulatory Approvals. Each Party hereby represents that the provisions of this Agreement constitute valid and legally binding obligations of such Party and are enforceable in accordance with their terms. The obligations of each Party under this Agreement are expressly contingent upon (i) each Party receiving all approvals, authorizations, consents, franchises, Permits, and licenses from any local, state, or federal regulatory agency or other governmental agency that may be required for such Party in connection with the performance of such Party’s obligations under or in connection with this Agreement (the “Required Regulatory Approvals”), ) and (ii) each Required Regulatory Approval being granted without the imposition of any modification or condition of the terms of this Agreement or the subject transactions, unless such modification(s) or condition(s) are agreed to by both Parties in their respective sole discretion, and (iii) all applicable appeal periods with respect to the Required Regulatory Approvals having expired without any appeal having been made or, if such an appeal has been made, a full, final and non-appealable determination having been made regarding same by a court or other administrative body of competent jurisdiction, which determination disposes of or otherwise resolves such appeal (or appeals) to the satisfaction of both Parties in their respective sole discretion. If any application or request is made in connection with seeking any Required Regulatory Approval and is denied, or is granted in a form, or subject to conditions, that either Party rejects, in its sole discretion, as unacceptable, this Agreement shall terminate as of the date that a Party notifies the other Party of such denial or rejection, in which event the obligations of the Parties under this Agreement shall cease as of such date and this Agreement shall terminate, subject to Customer’s obligation to pay Company in accordance with the terms of this Agreement (including, without limitation, Section 20.2 hereof) for all Company Reimbursable Costs incurredincurred through the effective termination date. All of the Company’s actual costs in connection with seeking for obtaining Required Regulatory Approvals shall be included within the meaning of the term Company Reimbursable Costs and shall be paid for by Customer. Notices All formal notices, demands, or communications under this Agreement shall be submitted in writing either by hand, registered or certified mail, or recognized overnight mail carrier to: To Customer: Xx. Xxxxxx Xxxxxx Acting VP – Project Management New York Power Authority 000 Xxxx Xxxxxx Xxxxx Xxxxxx, XX 00000 (000) 000-0000 To Company: Xx. Xxxxxxx Xxxxx Director, Transmission Commercial Services National Grid 00 Xxxxxx Xxxx Xxxxxxx, XX 00000 (000) 000-0000 [Signatures are on following page.]

Validity; Required Regulatory Approvals. Each Party hereby represents that the provisions of this Agreement constitute valid and legally binding obligations of such Party and are enforceable in accordance with their terms. The obligations of each Party under this Agreement are expressly contingent upon (i) each Party receiving all approvals, authorizations, consents, franchises, Permits, and licenses from any local, state, or federal regulatory agency or other governmental agency that may be required for such Party in connection with the performance of such Party’s obligations under or in connection with this Agreement (the “Required Regulatory Approvals”), ) and (ii) each Required Regulatory Approval being granted without the imposition of any modification or condition of the terms of this Agreement or the subject transactions, unless such modification(s) or condition(s) are agreed to by both Parties in their respective sole discretion, and (iii) all applicable appeal periods with respect to the Required Regulatory Approvals having expired without any appeal having been made or, if such an appeal has been made, a full, final and non-appealable determination having been made regarding same by a court or other administrative body of competent jurisdiction, which determination disposes of or otherwise resolves such appeal (or appeals) to the satisfaction of both Parties in their respective sole discretion. If any application or request is made in connection with seeking any Required Regulatory Approval and is denied, or is granted in a form, or subject to conditions, that either Party rejects, in its sole discretion, as unacceptable, this Agreement shall terminate as of the date that a Party notifies the other Party of such denial or rejection, in which event the obligations of the Parties under this Agreement shall cease as of such date and this Agreement shall terminate, subject to Customer’s obligation to pay Company in accordance with the terms of this Agreement (including, without limitation, Section 20.2 hereof) for all Company Reimbursable Costs incurredincurred through the effective termination date. All of the Company’s actual costs in connection with seeking for obtaining Required Regulatory Approvals shall be included within the meaning of the term Company Reimbursable Costs and shall be paid for by Customer. Notices All formal notices, demands, or communications under this Agreement shall be submitted in writing either by hand, registered or certified mail, or recognized overnight mail carrier to: To CustomerCustomer : Xx. Xxxxxx Xxxxxx Acting VP – Project Management New York Power Authority 000 Xxxx Xxxxxx Xxxxxxx Village of Solvay 0000 Xxxxx XxxxxxXxxx Solvay, XX 00000 NY 13209 (000) 000-0000 To Company: Xx. Xxxxxxx Xxxxx Director, Transmission Commercial Services National Grid 00 Xxxxxx Xxxx Xxxxxxx, XX 00000 (000) 000-0000 [Signatures are on following page.]

Validity; Required Regulatory Approvals. Each Party hereby represents that the provisions of this Agreement constitute valid and legally binding obligations of such Party and are enforceable in accordance with their terms. The obligations of each Party under this Agreement are expressly contingent upon (i) each Party receiving all approvals, authorizations, consents, franchises, Permits, and licenses from any local, state, or federal regulatory agency or other governmental agency that may be required for such Party in connection with the performance of such Party’s obligations under or in connection with this Agreement (the “Required Regulatory Approvals”), ) and (ii) each Required Regulatory Approval being granted without the imposition of any modification or condition of the terms of this Agreement or the subject transactions, unless such modification(s) or condition(s) are agreed to by both Parties in their respective sole discretion, and (iii) all applicable appeal periods with respect to the Required Regulatory Approvals having expired without any appeal having been made or, if such an appeal has been made, a full, final and non-appealable determination having been made regarding same by a court or other administrative body of competent jurisdiction, which determination disposes of or otherwise resolves such appeal (or appeals) to the satisfaction of both Parties in their respective sole discretion. If any application or request is made in connection with seeking any Required Regulatory Approval and is denied, or is granted in a form, or subject to conditions, that either Party rejects, in its sole discretion, as unacceptable, this Agreement shall terminate as of the date that a Party notifies the other Party of such denial or rejection, in which event the obligations of the Parties under this Agreement shall cease as of such date and this Agreement shall terminate, subject to Customer’s obligation to pay Company in accordance with the terms of this Agreement (including, without limitation, Section 20.2 hereof) for all Company Reimbursable Costs incurredincurred through the effective termination date. All of the Company’s actual costs in connection with seeking for obtaining Required Regulatory Approvals shall be included within the meaning of the term Company Reimbursable Costs and shall be paid for by Customer. Notices All formal notices, demands, or communications under this Agreement shall be submitted in writing either by hand, registered or certified mail, or recognized overnight mail carrier to: To CustomerCustomer : Xx. Xxxxxx Xxxxxx Acting VP – Project Management New York Power Authority 000 Xxxx Xxxxxx Xxxxxxx Village of Solvay 0000 Xxxxx XxxxxxXxxx Solvay, XX 00000 NY 13209 (000) 000-0000 To Company: Xx. Xxxxxxx Xxxxx Director, Transmission Commercial Services National Grid 00 Xxxxxx Xxxx XxxxxxxWaltham, XX 00000 MA 02451 (000) 000-0000 [Signatures are on following page.]

Validity; Required Regulatory Approvals. Each Party hereby represents that the provisions of this Agreement constitute valid and legally binding obligations of such Party and are enforceable in accordance with their terms. The obligations of each Party under this Agreement are expressly contingent upon (i) each Party receiving all approvals, authorizations, consents, franchises, Permits, and licenses from any local, state, or federal regulatory agency or other governmental agency that may be required for such Party in connection with the performance of such Party’s 's obligations under or in connection with this Agreement (the “"Required Regulatory Approvals”), ") and (ii) each Required Regulatory Approval being granted without the imposition of any modification or condition of the terms of this Agreement or the subject transactions, unless such modification(s) or condition(s) are agreed to by both Parties in their respective sole discretion, and (iii) all applicable appeal periods with respect to the Required Regulatory Approvals having expired without any appeal having been made or, if such an appeal has been made, a full, final and non-appealable determination having been made regarding same by a court or other administrative body of competent jurisdiction, which determination disposes of or otherwise resolves such appeal (or appeals) to the satisfaction of both Parties in their respective sole discretion. If any application or request is made in connection with seeking any Required Regulatory Approval and is denied, or is granted in a form, or subject to conditions, that either Party rejects, in its sole discretion, as unacceptable, this Agreement shall terminate as of the date that a Party notifies the other Party of such denial or rejection, in which event the obligations of the Parties under this Agreement shall cease as of such date and this Agreement shall terminate, subject to Customer’s 's obligation to pay Company in accordance with the terms of this Agreement (including, without limitation, Section 20.2 hereof) for all Company Reimbursable Costs incurredincurred through the effective termination date. All of the Company’s 's actual costs in connection with seeking for obtaining Required Regulatory Approvals shall be included within the meaning of the term Company Reimbursable Costs and shall be paid for by Customer. Notices All formal notices, demands, or communications under this Agreement shall be submitted in writing either by hand, registered or certified mail, or recognized overnight mail carrier to: To Customer: Xx. Xxxxxx Xxxxxx Acting VP – Project Management New York Power Authority 000 Xxxx Xxxxxx Xxxxx Xxxxxx, XX 00000 (000) 000-0000 To Company: Xx. Xxxxxxx Xxxxx Director, Transmission Commercial Services National Grid 00 Xxxxxx Xxxx Xxxxxxx, XX 00000 (000) 000-0000 [Signatures are on following page.]