Examples of Construction Commitment Agreement in a sentence
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For planning purposes, only those facilities with respect to which a Construction Commitment Agreement has already been executed shall be deemed “planned facilities”.
In the event that, after a Construction Commitment Agreement is executed, the System Access Service and new transmission facilities are no longer required for any reason, the Customer shall pay all costs incurred in the procurement and construction of facilities to the date at which construction is ceased, plus all cancellation costs, penalties or other claims accrued due to the cessation and costs required for material salvage and reclamation of the construction site.
The security shall be satisfactory to the Transmission Administrator in form and substance and the Construction Commitment Agreement shall be substantially in the form of the agreement attached hereto as Appendix “C”.
Upon execution of this Construction Commitment Agreement, the Transmission Administrator shall begin implementing plans to complete the Proposed Project.
For Connection Project [insert project name] [Author: If this is an amended Schedule “B”, keep the language in the following first three paragraphs and the word “amended” in the fourth paragraph and in the “IN WITNESS WHEREOF” paragraph: The TFO and market participant have agreed to amend the Construction Commitment Agreement pursuant to the terms and conditions contained this amended Schedule “B”.
For Connection Project [insert project name] [Author: If this is an amended Schedule “A”, keep the language in the following first three paragraphs and the word “amended” in the fourth paragraph and in the “IN WITNESS WHEREOF” paragraph: The TFO and market participant have agreed to amend the Construction Commitment Agreement pursuant to the terms and conditions contained this amended Schedule “A”.
For a Connection Project that is eligible for local investment, the market participant will also provide or cause to be provided to the TFO the financial security required in accordance with section 6 of the ISO Tariff as security for the payment and performance of all present and future debts, costs and financial obligations of the market participant to the TFO arising pursuant to this Construction Commitment Agreement other than those for which the construction contribution is paid.
Prior to commencing the Project Work, as set out in the attached Schedule “A”, the ISO tariff requires the market participant to enter into an agreement substantially in the form of this Construction Commitment Agreement with the TFO and to hold the TFO harmless from any negative financial consequences related to the cancellation of the Connection Project; and E.
No failure or delay on the TFO’s part in exercising a power or right as provided in this Construction Commitment Agreement operates as a waiver of this Construction Commitment Agreement.