ASSIGNMENT OF
AGREEMENT FOR SALE OF ELECTRIC POWER AND ENERGY
This agreement for assignment is made as of the 30th day of
June, 2003, between Alaska Electric Generation and Transmission Cooperative,
Inc. ("Assignor") and Alaska Electric and Energy Cooperative, Inc. ("Assignee").
WHEREAS, on September 27, 1985, Assignor entered into a contract
with Chugach Electric Association, Inc. ("Chugach") and Xxxxx Electric
Association, Inc. ("HEA") titled Agreement for Sale of Electric Power and Energy
(the "Contract"), wherein Chugach agreed to sell, and Assignor agreed to
purchase, under the terms set forth in the Contract (a copy of which is attached
to this agreement), electric power and energy for delivery to HEA;
WHEREAS, Assignor has used the electric power and energy
purchased from Chugach under the Contract, as well as power from other sources,
to provide the wholesale power needs of HEA pursuant to the terms of a wholesale
power agreement between Assignor and HEA;
WHEREAS, HEA and Assignor have rescinded the wholesale power
agreement under which Assignor provided the wholesale power and energy needs of
HEA, and HEA has entered into a new agreement with Assignee wherein Assignee
will provide the wholesale power and energy needs of HEA; and
WHEREAS, the Contract is by its terms assignable, and Assignee
desires to acquire the fights and is willing to assume the obligations of
Assignor under the Contract;
NOW, THEREFORE, the parties agree as follows:
1. Assignor assigns to Assignee all Assignor's rights, interest and
duties in the Agreement for Sale of Electric Power and Energy (the "Contract")
with Chugach Electric Association, Inc., and Xxxxx Electric Association, Inc.,
executed by Assignor on September 27, 1985.
2. Assignee assumes and covenants to perform all the obligations of
Assignor under the Contract, and guarantees to hold Assignor harmless from any
claim or demand made under the Contract.
IN WITNESS WHEREOF, the parties have executed this agreement as
of the date set forth above.
ASSIGNMENT-AGREEMENT SALE OF ELECTRIC POWER
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ALASKA ELECTRIC GENERATION AND
TRANSMISSION COOPERATIVE, INC.
By: /s/ N. L. Story
----------------
N. L. Story, Class A Manager
ALASKA ELECTRIC AND ENERGY
COOPERATIVE, INC.
By: /s/ Xxxx Xxxxxxx
----------------
Xxxx Xxxxxxx, President
ASSIGNMENT-AGREEMENT SALE OF ELECTRIC POWER
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