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05 Finance
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Last modified
8/23/2012 9:27:47 AM
Creation date
12/12/2008 1:42:53 PM
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Template:
AGENDA
Item Number
05
AGENDA - Type
MISCELLANEOUS
Description
Electric power contract with CAPP
AGENDA - Date
12/15/2008
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ARTICLE 3 <br />TERM OF CONTRACT AND DELIVERY OF PRODUCTS <br />3.1 Term. The term ("Term") of this Contract shall commence on the Effective <br />Date, and shall continue until the later o£ (a) January 1, 2033 at 12:00:00 a.m., or (b) the <br />date that the Bonds have been repaid in full and all covenants required to be performed <br />and all interest and costs required to be paid by CAPP under the Bonds have been <br />performed and paid in full by CAPP. <br />3.2 Delivery of Products. A Member's Contract Energy Allocation of the Products <br />shall be provided by CAPP to Member as set forth herein at 12:00:00 a.m. CPT on <br />January 1, 2009 (the "Service CommencementDate") provided that the Products are then <br />commenced to be delivered by Facility Owners to CAPP under the PPA. Thereafter, the <br />Products shall be received by CAPP or its Designated Agent(s) for the benefit of and as <br />agent for Member as the Products are delivered by Facility Owners under the PPA until <br />the earlier of: (a) one second following 11:59:59 p.m. CPT on December 31, 2032, (b) <br />the date that the PPA is terminated in accordance with its terms, or (c) the date that this <br />Contract is terminated in accordance with its terms ("Delivery Period'). In the event that <br />the Facility Owners fail to deliver all of the Products they are required to deliver under <br />the PPA, Member shall be entitled to receive only Member's Energy Allocation <br />Percentage of the Products actually delivered to and received by CAPP, net of <br />Transmission Losses <br />ARTICLE 4 <br />PAYMENT OF CAPACITY <br />PREPAYMENT TO FACILITY OWNERS <br />Provided that the PPA has not been terminated by CAPP or by the Facility <br />Owners prior to the Service Commencement Date pursuant to Article 11 of the PPA, <br />CAPP shall pay or cause the Capacity Prepayment to be paid to Facility Owners on or <br />before the date described in said Section 4.1(b) of the PPA. CAPP and Member stipulate <br />and agree that the Capacity Prepayment shall be paid to the Facility Owners as required <br />by the PPA, in whole or in part, from the proceeds of the Bonds, interest earned while <br />such Bond proceeds are escrowed, and, as CAPP may elect, funds paid to CAPP by <br />Member and Participating Members. <br />ARTICLE 5 <br />DELIVERY OF CONTRACT ENERGY <br />5.1 Acquisition and Delivery of Product. Upon the Service Commencement Date, <br />CAPP shall require (i) Facility Owners to provide and deliver the Contract Energy <br />described in the PPA to the Designated Agent(s) at the Facility Owners' Delivery Point, <br />and (ii) the Designated Agent(s) to deliver Energy to Member at the Member's Delivery <br />Points, in both cases from Products generated from the Facilities or acquired by the <br />13 <br />~ (sUL(~3`), <br />
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