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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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(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 PPA Capacity Payments shall not be <br />available as a remedy under this Contract. <br />(ii) The exercise of any remedy herein conferred or reserved <br />shall not be deemed a waiver of any other available remedy. The failure <br />to 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 the Capacity Prepayment <br />authorized under this Contract, CAPP agrees that the certifications <br />required to effectuate any covenants or representations contained in this <br />Contract do not and shall never constitute or give rise to a personal or <br />pecuniary liability or charge against the officers, employees or trustees of <br />the 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 />ARTICLE 8 <br />BILLING AND PAYMENT <br />8.1 Invoice and Payment Schedules. CAPP shall cause the Designated Agent(s) to <br />submit invoices to Member for the Contract Price. All such invoices under this Contract <br />shall be due and payable in accordance with the invoice instructions of the Designated <br />Agent(s) consistent with ERCOT protocols, Rules of the Public Utility Commission of <br />Texas, and contractual agreements between CAPP and Designated Agents. CAPP will <br />cause the Designated Agent(s) to render to Member a separate invoice for the Contract <br />Price for each ESI-ID on a billing month basis. All Monthly Capacity Payment invoices <br />under this Contract pursuant to Article 7, shall be separately due and payable directly to <br />CAPP or the Trustee in accordance with the invoice instructions of CAPP, Trustee or <br />Designated Agent. <br />8.2 Method of Payment. Each Party will make payments by electronic funds <br />transfer, or by other mutually agreeable method(s), to the account designated by the other <br />Party. Any amounts not paid by the due date will be deemed delinquent and will accrue <br />24 <br />W. ()0. 411) <br />
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