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05 Finance
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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
Metadata
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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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Facility Owners for delivery under the PPA as Alternate Energy pursuant to Section 5.3 <br />of the PPA. <br />5.2 Title and Risk of Loss. Risk of loss of the Energy provided in accordance with <br />this Contract shall transfer to CAPP as agent for Member and Participating Members at <br />the Facility Owners' Delivery Points. Title to the Energy (subject to loss) shall be held <br />by CAPP as agent for Member and Participating Members between the Facility Owners' <br />Delivery Points and Member's Delivery Points. <br />5.3 Member's Failure to Accept Product. If Member fails to accept all or part of <br />the Product under this Contract and such failure is not excused under the terms of this <br />Contract or by failure of the Facility Owners to deliver same under the PPA, then <br />Member shall pay to CAPP or to the Designated Agent(s) from time-to-time designated <br />by CAPP, on the date payment would otherwise be due with respect to the month in <br />which the failure occurred, an amount for each MWh of such deficiency equal to the <br />positive difference, if any, obtained by subtracting the Resale Price from the Contract <br />Price. The invoice for such amount shall include reasonable detail as to the calculation of <br />such amount. <br />5.4 Failure of Facility Owners to Schedule or Deliver Product to CAPP. If one or <br />more of the Facility Owners fail to schedule and/or deliver all or part of the Product as <br />required by it under the PPA, and such failure is not excused under the terms of the PPA <br />or by CAPP's failure to perform, then CAPP or the then-designated Designated Agent(s) <br />shall, on behalf of all Participating Members, at the expense of and in the proportion of <br />their respective Member's Energy Allocation Percentages, seek to collect sums from the <br />Facility Owners that are recoverable pursuant to Section 3.4 of the PPA; provided, <br />however, that any obligation by CAPP or by the Designated Agent(s), as the case may be, <br />to pay Member in such event is limited to the amount that CAPP or the Designated <br />Agent(s) actually collect from the Facility Owners and the Guarantor, net of costs of <br />collection. For the avoidance of doubt, CAPP shall not be required to pay damages under <br />this Section 5.4 when the failure to schedule and/or deliver is excused under the <br />definition of Unit Contingent Energy. <br />ARTICLE 6 <br />PRICING OF AND <br />PAYMENT FOR ENERGY <br />6.1 Payment of Member's Monthly Aggregated Energ,y Payment. In <br />consideration for the Energy received by it under this Contract, Member shall pay <br />Member's Monthly Aggregated Energy Payment to CAPP, or to the Designated Agent(s), <br />as the case may be, on or before the dates for payment set forth in Article 8, below, and <br />calculated as follows: <br />14 <br />M l;U~'G3:~ <br />
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