|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the PPL 8-K filed Mar 7, 2008. Meter
Reading. On and
prior to the Closing Date, Seller shall cause the Companies to read the customer
meters in their normal cycle and in due course render the related bills to its
customers served by the Companies. Seller shall also cause the Companies to read
each daily read transportation customer meter (collectively, “Large Volume Meters”)
on the day immediately preceding the Closing Date. Seller shall provide Buyer
with the Companies’ last meter reading from each of the Large Volume Meters made
on the day immediately preceding the Closing Date as soon as practicable after
the Closing Date. After the Closing Date, Buyer shall read the customer meters
for their first time, in the normal cycle, and in due course render bills for
service during the period between the Companies’ last reading in the normal
cycle and Buyer’s first reading in the normal cycle to the customers. Buyer
shall determine the volume of gas sold by the Companies prior to the Closing
Date through Large Volume Meters by the Companies’ meter readings on the day
immediately preceding the Closing Date. Buyer shall determine by allocation the
volumes of gas sold by the Companies’ through all meters other than Large Volume
Meters, prior to the Closing Date, and the gas sold by Buyer, on and after the
Closing Date and prior to its first meter reading through meters without charts.
Such allocation shall be consistent with the Companies’ past practices for
unbilled revenues. Once such determinations have been made by Buyer, the
estimated amounts of accounts receivable and earned but unbilled revenue and any
other related payables or liabilities shall be adjusted based upon such
determinations for purposes of the determination of the Actual Aggregate Net
Working Capital pursuant to Section 2.2(b).
SECTION
6.8.
|
| |||||||
