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These excerpts taken from the NST 10-K filed Feb 21, 2006. 1. DEFINITIONS
In addition to terms defined in the recitals hereto, the following terms shall have the meanings set forth below.
Affiliate shall mean, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, such first Person. As used in this definition, control means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
Agreement shall have the meaning set forth in the first paragraph of this Agreement.
Agreement Date shall have the meaning set forth in the first paragraph of this Agreement.
Approved Capacity Buyer shall mean any of the Persons set forth on Schedule 4.1(c) hereto.
BECO Reorganization Event shall mean (a) any consolidation, merger or other form of combination of BECO with any other Person, (b) the acquisition of a majority of the outstanding shares of BECO by any Person or (c) the sale, conveyance, lease, transfer or other disposition, in one transaction or a series of related transactions, including without limitation the transfer or spin-off of shares of a subsidiary (collectively, a Transfer), affecting all or substantially all of the assets of BECO existing on the Agreement Date or hereafter acquired. For purposes of this definition, the transfer, sale or other disposition of all or substantially all of the transmission and/or distribution assets of BECO, will, in either case, constitute a BECO Reorganization Event.
BECO Termination Payment shall mean, with respect to this Agreement and NEA, an amount payable by BECO to NEA equal to the sum of the Losses (including, without limitation, the adverse financial impact, if any, of NEA being caused to forego its ability to reduce the Energy Bank balance by performing its obligations under this Agreement, but net of Gains) and Costs, expressed in U.S. Dollars, which NEA incurs as a result of the termination of this Agreement pursuant to Section 8.2(a)(i) hereof. The BECO Termination Payment shall be net of any amounts then owed to BECO in the Energy Bank.
Business Day shall mean any day that is not a Saturday, Sunday, or NERC Holiday.
Capacity shall mean Unforced Capacity as presently defined in the NEPOOL Manual for Definitions and Abbreviations (and, throughout the Term, any successor product thereto).
Capacity Payment with respect to any given time period, shall mean the product of (a) the Capacity Price and (b) Capacity Requirement, for such period.
Capacity Price with respect to any month, shall mean (a) the Negotiated Capacity Price or (b) in the event that the Parties fail to agree upon a Negotiated Capacity Price on or before the Contract UCAP Transfer Deadline, the price for UCAP for such month established pursuant to the next UCAP Monthly Supply Auction; provided, however, if no price for UCAP is established in the next UCAP Monthly Supply Auction, the price to be used is that established pursuant to the last UCAP Monthly Supply Auction in which UCAP was transacted.
Capacity Receipt Shortfall shall have the meaning set forth in Section 3.8(c) hereof.
Capacity Replacement Damages shall have the meaning ascribed thereto in Section 3.8(b) herein.
Capacity Replacement Price with respect to any portion of the Capacity Requirement that NEA fails to deliver to BECO hereunder, shall mean (a) the price at which BECO, acting in a commercially reasonable manner, purchases Capacity in lieu of such portion of the Capacity Requirement, plus transaction and other administrative costs reasonably incurred by BECO in purchasing such Capacity, or (b) to the extent BECO has not purchased Capacity in lieu of such portion of the Capacity Requirement, the market price for such portion of the Capacity Requirement determined in a commercially reasonable manner.
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Capacity Requirement, shall mean for the applicable month, for so long as NEA is the owner of the Facility during the Term hereof, the lesser of (a) 100 MW or (b) 50% of the Capacity recognized by the ISO as attributable to the Facility. Upon the sale, assignment or transfer by NEA of its interest in the Facility during the Term hereof, Capacity Requirement shall be fixed at the Capacity Requirement in effect on the date immediately prior to such sale, assignment or transfer.
Capacity Resale Damages shall have the meaning ascribed thereto in Section 3.8(c) herein.
Capacity Resale Price with respect to any portion of the Capacity Requirement that BECO fails to accept delivery from NEA hereunder, shall mean (a) the price at which NEA, acting in a commercially reasonable manner, re-sells Capacity in lieu of such portion of the Capacity Requirement, less transaction and other administrative costs reasonably incurred by NEA in selling such Capacity or (b) to the extent NEA has not sold Capacity in lieu of such portion of the Capacity Requirement, the market price for such portion of the Capacity Requirement determined in a commercially reasonable manner.
Capacity Supply Shortfall shall have the meaning set forth in Section 3.8(b) hereof.
Change in Law or Market Structure shall mean any of the following events that has a material adverse economic effect on one or both of the Parties: (a) the adoption, promulgation, modification, repeal or reinterpretation by any Governmental Entity of any Law which (or the effects of which) amends or conflicts with the Laws established or in effect as of the Agreement Date, (b) the adoption, promulgation, modification, repeal or reinterpretation by ISO of the ISO Policies which (or the effect of which) amends or conflicts with the ISO Policies established or in effect as of the Agreement Date or (c) the adoption or promulgation of a market structure that differs from the market structure reflected in the ISO Policies established or in effect as of the Agreement Date. For avoidance of doubt, a Change in Law or Market Structure shall include any event described in clauses (a), (b) or (c) above that results in BECO not being able to sell the Contract Energy purchased hereunder at a price greater than or equal to the Energy Payment prices (excluding the Support Payment) paid to NEA hereunder.
1. DEFINITIONS
In addition to terms defined in the recitals hereto, the following terms shall have the meanings set forth below.
Affiliate shall mean, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, such first Person. As used in this definition, control means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
Agreement shall have the meaning set forth in the first paragraph of this Agreement.
Agreement Date shall have the meaning set forth in the first paragraph of this Agreement.
Approved Capacity Buyer shall mean any of the Persons set forth on Schedule 4.1(c) hereto.
BECO Reorganization Event shall mean (a) any consolidation, merger or other form of combination of BECO with any other Person, (b) the acquisition of a majority of the outstanding shares of BECO by any Person or (c) the sale, conveyance, lease, transfer or other disposition, in one transaction or a series of related transactions, including without limitation the transfer or spin-off of shares of a subsidiary (collectively, a Transfer), affecting all or substantially all of the assets of BECO existing on the Agreement Date or hereafter acquired. For purposes of this definition, the transfer, sale or other disposition of all or substantially all of the transmission and/or distribution assets of BECO, will, in either case, constitute a BECO Reorganization Event.
BECO Termination Payment shall mean, with respect to this Agreement and NEA, an amount payable by BECO to NEA equal to the sum of the Losses (net of Gains) and Costs, expressed in U.S. Dollars, which NEA incurs as a result of the termination of this Agreement pursuant to Section 8.2(a)(i) hereof.
Business Day shall mean any day that is not a Saturday, Sunday, or NERC Holiday.
Capacity shall mean Unforced Capacity as presently defined in the NEPOOL Manual for Definitions and Abbreviations (and, throughout the Term, any successor product thereto).
Capacity Payment with respect to any given time period, shall mean the product of (a) the Capacity Price and (b) Capacity Requirement, for such period.
Capacity Price with respect to any month, shall mean (a) the Negotiated Capacity Price or (b) in the event that the Parties fail to agree upon a Negotiated Capacity Price on or before the Contract UCAP Transfer Deadline, the price for UCAP for such month established pursuant to the next UCAP Monthly Supply Auction; provided, however, if no price for UCAP is established in the next UCAP Monthly Supply Auction, the price to be used is that established pursuant to the last UCAP Monthly Supply Auction in which UCAP was transacted.
Capacity Receipt Shortfall shall have the meaning set forth in Section 3.8(c) hereof.
Capacity Replacement Damages shall have the meaning ascribed thereto in Section 3.8(b) herein.
Capacity Replacement Price with respect to any portion of the Capacity Requirement that NEA fails to deliver to BECO hereunder, shall mean (a) the price at which BECO, acting in a commercially reasonable manner, purchases Capacity in lieu of such portion of the Capacity Requirement, plus transaction and other administrative costs reasonably incurred by BECO in purchasing such Capacity, of (b) to the extent BECO has not purchased Capacity in lieu of such portion of the Capacity Requirement, the market price for such portion of the Capacity Requirement determined in a commercially reasonable manner.
Capacity Requirement, shall mean for the applicable month, for so long as NEA is the owner of the Facility during the Term hereof, the lesser of (a) 60 MW or (b) 30% of the Capacity recognized by the ISO as attributable to the Facility. Upon the sale, assignment or transfer by NEA of its interest in the Facility during the Term hereof, Capacity Requirement shall be fixed at the Capacity Requirement in effect on the date immediately prior to such sate, assignment or transfer.
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Capacity Resale Damages shall have the meaning ascribed thereto in Section 3.8(c) herein.
Capacity Resale Price with respect to any portion of the Capacity Requirement that BECO fails to accept delivery from NEA hereunder, shall mean (a) the price at which NEA, acting in a commercially reasonable manner, re-sells Capacity in lieu of such portion of the Capacity Requirement, less transaction and other administrative costs reasonably incurred by NEA in selling such Capacity or (b) to the extent NEA has not sold Capacity in lieu of such portion of the Capacity Requirement, the market price for such portion of the Capacity Requirement determined in a commercially reasonable manner.
Capacity Supply Shortfall shall have the meaning set forth in Section 3.8(b) hereof.
Change in Law or Market Structure shall mean any of the following events that has a material adverse economic effect on one or both of the Parties: (a) the adoption, promulgation, modification, repeal or reinterpretation by any Governmental Entity of any Law which (or the effects of which) amends or conflicts with the Laws established or in effect as of the Agreement Date, (b) the adoption, promulgation, modification, repeal or reinterpretation by ISO of the ISO Policies which (or the effect of which) amends or conflicts with the ISO Policies established or in effect as of the Agreement Date or (c) the adoption or promulgation of a market structure that differs from the market structure reflected in the ISO Policies established or in effect as of the Agreement Date. For avoidance of doubt, a Change in Law or Market Structure shall include any event described in clauses (a), (b) or (c) above that results in BECO not being able to sell the Contract Energy purchased hereunder at a price greater than or equal to the Energy Payment prices (excluding the Support Payment) paid to NEA hereunder.
1. DEFINITIONS
In addition to terms defined in the recitals hereto, the following terms shall have the meanings set forth below.
Affiliate shall mean, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, such first Person. As used in this definition, control means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
Agreement shall have the meaning set forth in the first paragraph of this Agreement.
Agreement Date shall have the meaning set forth in the first paragraph of this Agreement.
Approved Capacity Buyer shall mean any of the Persons set forth on Schedule 4.1(c) hereto.
Business Day shall mean any day that is not a Saturday, Sunday, or NERC Holiday.
Capacity shall mean Unforced Capacity as presently defined in the NEPOOL Manual for Definitions and Abbreviations (and, throughout the Term, any successor product thereto).
Capacity Payment with respect to any given time period, shall mean the product of (a) the Capacity Price and (b) Capacity Requirement, for such period.
Capacity Price with respect to any month, shall mean (a) the Negotiated Capacity Price or (b) in the event that the Parties fail to agree upon a Negotiated Capacity Price on or before the Contract UCAP Transfer Deadline, the price for UCAP for such month established pursuant to the next UCAP Monthly Supply Auction; provided, however, if no price for UCAP is established in the next UCAP Monthly Supply Auction, the price to be used is that established pursuant to the last UCAP Monthly Supply Auction in which UCAP was transacted.
Capacity Receipt Shortfall shall have the meaning set forth in Section 3.8(c) hereof.
Capacity Replacement Damages shall have the meaning ascribed thereto in Section 3.8(b) herein.
Capacity Replacement Price with respect to any portion of the Capacity Requirement that NEA fails to deliver to CECO hereunder, shall mean (a) the price at which CECO, acting in a commercially reasonable manner, purchases Capacity in lieu of such portion of the Capacity Requirement, plus transaction and other administrative costs reasonably incurred by CECO in purchasing such Capacity, or (b) to the extent CECO has not purchased Capacity in lieu of such portion of the Capacity Requirement, the market price for such portion of the Capacity Requirement determined in a commercially reasonable manner.
Capacity Requirement shall mean for the applicable month, for so long as NEA is the owner of the Facility during the Term hereof, the lesser of (a) 20 MW or (b) 10% of the Capacity recognized by the ISO as attributable to the Facility. Upon the sale, assignment or transfer by NEA of its interest in the Facility during the Term hereof, Capacity Requirement shall be fixed at the Capacity Requirement in effect on the date immediately prior to such sale, assignment or transfer.
Capacity Resale Damages shall have the meaning ascribed thereto in Section 3.8(c) herein.
Capacity Resale Price with respect to any portion of the Capacity Requirement that CECO fails to accept delivery from NEA hereunder, shall mean (a) the price at which NEA, acting in a commercially reasonable manner, re-sells Capacity in lieu of such portion of the Capacity Requirement, less transaction and other administrative costs reasonably incurred by NEA in selling such Capacity or (b) to the extent NEA has not sold Capacity in lieu of such portion of the Capacity Requirement, the market price for such portion of the Capacity Requirement determined in a commercially reasonable manner.
Capacity Supply Shortfall shall have the meaning set forth in Section 3.8(b) hereof.
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CECO Reorganization Event shall mean (a) any consolidation, merger or other form of combination of CECO with any other Person, (b) the acquisition of a majority of the outstanding shares of CECO by any Person or (c) the sale, conveyance, lease, transfer or other disposition, in one transaction or a series of related transactions, including without limitation the transfer or spin-off of shares of a subsidiary (collectively, a Transfer), affecting all or substantially all of the assets of CECO existing on the Agreement Date or hereafter acquired. For purposes of this definition, the transfer, sale or other disposition of all or substantially all of the transmission and/or distribution assets of CECO, will, in either case, constitute a CECO Reorganization Event.
CECO Termination Payment shall mean, with respect to this Agreement and NEA, an amount payable by CECO to NEA equal to the sum of the Losses (net of Gains) and Costs, expressed in U.S. Dollars, which NEA incurs as a result of the termination of this Agreement pursuant to Section 8.2 (a)(i) hereof.
Change in Law or Market Structure shall mean any of the following events that has a material adverse economic effect on one or both of the Parties: (a) the adoption, promulgation, modification, repeal or reinterpretation by any Governmental Entity of any Law which (or the effects of which) amends or conflicts with the Laws established or in effect as of the Agreement Date, (b) the adoption, promulgation, modification, repeal or reinterpretation by ISO of the ISO Policies which (or the effect of which) amends or conflicts with the ISO Policies established or in effect as of the Agreement Date or (c) the adoption or promulgation of a market structure that differs from the market structure reflected in the ISO Policies established or in effect as of the Agreement Date. For avoidance of doubt, a Change in Law or Market Structure shall include any event described in clauses (a), (b) or (c) above that results in CECO not being able to sell the Contract Energy purchased hereunder at a price greater than or equal to the Energy Payment prices (excluding the Support Payment) paid to NEA hereunder.
DEFINITIONS
In addition to terms defined in the introductory paragraph to this Agreement, the following terms shall have the meanings set forth below:
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Adjusted Bid Price Amount shall mean the Initial NEA Bid Price Amount plus the Bid Date On-Peak Energy Cost, minus the Calculation Date On-Peak Energy Cost. The Adjusted Bid Price Amount will be calculated and agreed to by the Parties on the Calculation Date.
Affiliate shall mean, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, such first Person. As used in this definition, control means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
Amended and Restated Power Purchase Agreements shall have the meaning set forth in the Recitals.
ARTICLE 1 - DEFINITIONS
In this Agreement, unless something in the subject matter or context is inconsistent therewith, all capitalized terms shall have the meanings ascribed thereto as follows:
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This excerpt taken from the NST 10-K filed Feb 22, 2005. Section 2. Definitions
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