Examples of Unit 1 Ownership Agreement in a sentence
Notwithstanding the provisions of Sections 15.6 and 15.9 of this Agreement, this Section 2.4(a) shall not be deemed to amend Section 1.8 of the Iatan Unit 1 Ownership Agreement.
The Iatan Unit 1 Ownership Agreement shall survive the execution and delivery of this Agreement and continue in full force and effect without modification thereof except to the extent the provisions of this Agreement may be in conflict or inconsistent with provisions of the Iatan Unit 1 Ownership Agreement, in which case the provisions of this Agreement shall control except as specifically set forth in Section 2.4 of this Agreement.
Each Party that owns a Unit 1 Component Ownership Interest in accordance with the Unit 1 Ownership Agreement on the ERGS SC Unit 1 Lease Effective Date shall be a New Common Facilities Owner.
The Parties shall use commercially reasonable efforts (i) to effect a simultaneous closing if both MGE Power and WPPI elect to become Unit 2 Owners and (ii) if either or both such Parties elect to become Unit 1 Owners pursuant to the Unit 1 Ownership Agreement, to effect such closing under this Agreement simultaneously with a closing under the Unit 1 Ownership Agreement.
The Term of this Agreement and the Easements provided hereunder shall commence, for each of MGE Power and WPPI, upon the closing of the acquisition of an ownership interest in Unit 1 and the New Common Facilities by MGE Power and WPPI, respectively, pursuant to Article IV of the Unit 1 Ownership Agreement.
Notwithstanding the immediately preceding sentence and any provision to the contrary contained in this Agreement, in no event shall MGE Power be able to acquire a 16.10% Xxxx 0 Ownership Interest under this Agreement if MGE Power has or will acquire more than an 8.33% Xxxx 0 Ownership Interest under the Unit 1 Ownership Agreement.
Except as otherwise provided in the proviso of the immediately succeeding sentence, prior to the Lease Effective Date, in accordance with the terms of the Unit 1 Ownership Agreement and EPC Contract (which agreements may provide for control of some of the New Common Facilities to pass to the Operating Agent prior to the Lease Effective Date), the Project Manager shall be in control of the New Common Facilities.
WEPCO shall take all actions necessary to satisfy its obligations under and pursuant to the WEPCO Unit 1 Facility Lease (including Schedule 5.1 thereto) in a timely manner such that the Lease Effective Date will occur simultaneously with the Commercial Operation Date (as defined in the Unit 1 Ownership Agreement as of the date of execution thereof) or as soon thereafter as practicable.