FERC Settlement Order definition
Examples of FERC Settlement Order in a sentence
Except (i) as provided in Section 2.3, and (ii) as to OMOI, whose obligations under this Agreement shall not be effective until the issuance of the FERC Settlement Order, this Agreement shall be a binding obligation of each Party immediately upon the Execution Date.
The FERC Settlement Order shall constitute authorization and direction to the ISO and PX to implement the terms of this Agreement.
The Parties agree, and the FERC Settlement Order shall constitute FERC’s determination, that the PG&E Plan Escrow may be reduced in an amount equal to PG&E’s Deemed Distributions under this Agreement.
FERC’s approval of this Agreement in the FERC Settlement Order shall constitute a grant of such waivers of the ISO and the PX tariffs as may be necessary for the ISO and the PX to disburse such funds as required by this Agreement, to account for transfers, allocations and distributions of funds as required by this Agreement, and to otherwise implement this Agreement.
To the extent that the PX previously obtained payment from Reliant for PX Wind-Up Charges by set off against the Reliant Receivables, the FERC Settlement Order shall be deemed to direct the PX to reverse such setoff.
FERC’s approval of this Agreement in the FERC Settlement Order shall constitute direction to the ISO and PX to recognize and implement the assignment of the Reliant Receivables, as provided in Sections 4.1.1, 4.2.1 and this 4.2.2 and the treatment of PX Wind-Up Charges as provided in Sections 7.4 and 8.7.7.
FERC’s approval of this Agreement in the FERC Settlement Order shall constitute its direction (i) to the ISO and the PX to recognize and implement the assignment of the Reliant Receivables and the treatment of PX Wind-Up Charges in accordance with this Agreement, and (ii) to the PX to reverse any offsets previously made to the Reliant Receivables to reflect PX Wind-Up Charges that Reliant is instead obligated to pay in cash pursuant to Section 8.7.7 of this Agreement.
FERC’s approval of this Agreement in the FERC Settlement Order shall constitute its direction to the PX to release and return all collateral provided by any Mirant Party, and to forego or otherwise withdraw all requests for additional collateral from any Mirant Party, in each case to the extent that such collateral or request for collateral applies to liabilities that are released by this Agreement, or involves an amount of collateral that is calculated taking into account such liabilities.
FERC’s approval of this Agreement in the FERC Settlement Order shall constitute its direction (i) to the ISO and the PX to recognize and implement the assignment of the Enron Receivables, and Enron’s reservation of rights therein, and the treatment of PX wind-up expenses in accordance with this Agreement, and (ii) to the PX to reverse any offsets previously made to the Enron Receivables to reflect PX wind-up expenses payable by Enron in cash under this Agreement.
The application or other form of filing necessary to obtain the FERC Settlement Order shall be submitted to FERC no later than 2 Business Days after the Execution Date.