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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
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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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prospect or ability to be repaid in accordance with this Contract, and the <br />continuation thereof for a period of 30 days after notice of such default is <br />given by CAPP or Trustee to the Member. <br />(b) Remedies for Default. <br />(i) Upon the occurrence of a Default, then and in every case, <br />CAPP or an authorized representative thereof may proceed against the <br />Member, or any official, officer or employee of the Member in their <br />official capacity, for the purpose of protecting and enforcing the rights of <br />CAPP under this Contract, by mandamus or other suit, action or special <br />proceeding in equity or at law, in any court of competent jurisdiction, for <br />any relief permitted by law, including the specific performance of any <br />covenant or agreement contained herein, or thereby to enjoin any act or <br />thing that may be unlawful or in violation of any right of CAPP hereunder <br />or any combination of such remedies. <br />(ii) It is provided that all such proceedings shall be instituted and <br />maintained for the benefit of CAPP. <br />(c) Remedies Not Exclusive. <br />(i) No remedy herein conferred or reserved is intended to be <br />exclusive of any other available remedy or remedies, but each and every <br />such remedy shall be cumulative and shall be in addition to every other <br />remedy given hereunder or now or hereafter existing at law or in equity; <br />provided, however, that notwithstanding any other provision of this <br />Contract, the right to accelerate the Energy Payments shall not be <br />available as a remedy under this Contract. <br />(ii) The exercise of any remedy herein conferred or reserved shall <br />not be deemed a waiver of any other available remedy. The failure to <br />exercise a remedy upon a Default shall not be deemed to be a waiver of <br />the right to exercise such remedy in the future. <br />(iii) By accepting the delivery of Energy Payment authorized <br />under this Contract, CAPP agrees that the certifications required to <br />effectuate any covenants or representations contained in this Contract do <br />not and shall never constitute or give rise to a personal or pecuniary <br />liability or charge against the officers, employees or trustees of the <br />Member. <br />(iv) No official or officer, agent, or employee of the Member, <br />shall be charged personally by CAPP or the Trustee with any liability, or <br />be held personally liable under any term or provision of this Contract, or <br />because of a Default or Default under this Contract. <br />20 <br />144 u Li V45) <br />
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