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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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18.3 Financing. Member agrees to cooperate with CAPP in connection with the <br />issuance of the Bonds. Without limiting the foregoing, CAPP and Member acknowledge <br />that this Contract may be an integral part of the documentation securing the Bonds. At <br />CAPP's request, Member shall agree to amend this Contract to include any provision <br />which may reasonably be requested by the issuer of the Bonds, and to include any <br />provision that may be required to correspond to an amendment of the PPA; provided, <br />however, that no such amendment shall increase the burdens or obligations of Member <br />hereunder with respect to the price and purchase obligations set forth herein. Upon the <br />request of CAPP, Member agrees to negotiate in good faith and shall execute additional <br />documents, opinions and instruments reasonably requested by the proposed issuer of the <br />Bonds including (i) a consent and agreement that provides an additional reasonable <br />period of time to remedy any Default, and (ii) a legal opinion of counsel for Member <br />affirming the enforceability of this C;ontract against Member and other matters <br />reasonably requested, subject to customary exceptions and qualifications. <br />ARTICLE 19 <br />MISCELLANEOUS <br />19.1 Applicable Law. This Contract is governed by and shall be construed under the <br />Laws of the State of Texas excluding any conflict of laws rules. The Parties submit to the <br />exclusive jurisdiction of the state and federal courts in Dallas County, Texas in <br />connection with any litigation arising hereunder. <br />19.2 Counterparts. This Contract may be executed in more than one counterpart, <br />each of which shall be deemed to be an original, but all of which together shall constitute <br />one and the same document. <br />19.3 Waiver. No waiver of any breach of the terms of this Contract shall be effective <br />unless such waiver is in writing and signed by the Party against whom such waiver is <br />claimed. No waiver of any breach shall be deemed to be a waiver of any subsequent <br />breach. <br />19.4 Modification. The provisions of this Contract, including any exhibits, may only <br />be modified by written agreement duly executed by each Party. <br />19.5 Severability If any provision of this Contract shall be determined to be <br />unenforceable, void or otherwise contraxy to Law, such condition shall in no manner <br />operate to render any other provision of this Contract unenforceable, void or contrary to <br />Law, and this Contract shall continue in force in accordance with the remaining terms <br />and provisions hereof, unless such condition invalidates the purpose or intent of this <br />Contract. In the event that any of the provisions, or portions or applications thereof, of <br />this Contract are held unenforceable or invalid by any court of competent jurisdiction, <br />Buyer and Seller shall negotiate in good faith to attempt to implement an equitable <br />adjustment in the provisions of this Contract with a view toward effecting the purposes of <br />this Contract by replacing the provision that is unenforceable, void, or contrary to Law <br />37 <br />~ <br />
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