Remaining Participants definition
Examples of Remaining Participants in a sentence
During the Interim Period, the Remaining Participants will be entitled to use equipment from Units 2 and 3 in the operation of either or both of Units 1 and 4 without compensation to the Exiting Participants.
Any other costs billed by SJCC under the CSA and not specifically addressed in this Section 5.7 will be apportioned among and paid for by the Remaining Participants on the basis of Remaining Participant’s Common Participation Share for that year unless otherwise annually approved by the Remaining Participants in the Fuels Committee.
All Parties will be liable for their prorated share of such expenses to the extent such items relate to all time periods prior to the Exit Date and the Remaining Participants will be liable to the extent such items relate to all time periods on and after the Exit Date.
The total amount of any such payment for consumed Project Coal Inventory tons will subsequently be credited to FERC Account 151 and apportioned to the Remaining Participants based on the Remaining Participant’s Common Participation Share for that year.
The Remaining Participants will purchase fuel oil inventory from the Exiting Participants at book value on the Exit Date.
On the first monthly invoice following the Exit Date, the Operating Agent will credit each of the Exiting Participants for its share of the book value for fuel oil inventory, and charge each of the Remaining Participants for its share of such book value.
In the event of an SJCC Environmental Force Majeure, then Available Pre-existing Stockpile Tons will be allocated in the same manner as Pre-existing Stockpile Coal tons, and Force Majeure Tons will be allocated in the same manner as Tier 1 Tons unless otherwise approved by the Remaining Participants in the Fuels Committee.
Only the Remaining Participants will be responsible for Liabilities arising from SJGS plant operations or ownership after the Exit Date based on the Remaining Participants’ respective post-Exit Date plant ownership interests in the facilities giving rise to the Liability.
The New Exit Date Amendment will reflect the exit from the Project of the Exiting Participants and set forth the terms of the SJPPA under which the Remaining Participants will continue their participation in the Project after the Exit Date and the Assignment Transfer Date, including the Remaining Participants’ operation and maintenance of Units 1 and 4.
Beginning on January 1, 2016, PNM will supply coal to (i) the Exiting Participants under the provisions of Sections 5.3 through 5.6; and (ii) the Remaining Participants under the provisions of Section 5.7. PNM will have all cost obligations under the CSA for coal supplied to the Exiting Participants and PNM will have all rights to the Exiting Participants’ inventory relinquished to PNM under Section 5.3.