05-L TXU Settlement - Laserfiche WebLink

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COMPROMISE, SETTLEMENT AND RELEASE AGREEMENT This Compromise, Settlement, and Release Agreement (the "AgreemenY") is made and entered into as of the date set forth below by and beriveen the City of Paris (the "City") and TXU Electric Company n/k/a TXU US Holdings Company ("TXU Electric"), TXU Gas Company ("TXU Gas") and TXLJ Corp. (collectively sometimes referred to as the "TXU Defendants"): WHEREAS, there is currently pending in the 134"' Judicial District Court ofDallas County, Texas, in Cause No. 00-9383, a suit styled City ofDenton, Texas et al. vs. TXUElectric Company, et al. (the "Litigation") which includes claims by the City against the TXU Defendants arising out of the electric and gas franchise ordinances entered into by and between the City and TXiJ Electric and TXiJ Gas and, specifically, a dispute with regard to the amount of franchise fees paid to the City by TXU Electric and TXU Gas; WHEREAS, the City and the TXU Defendants have compromised and settled all claims asserted in the Litigation; NOW, THEREFORE, in order to settle and finally resolve the causes of action asserted in the Litigation and to fully and finally resolve all disputes and claims arising out of the calculation and payment of franchise fees to the City by TXU Electric and TXU Gas prior to and through December 31, 2001, for the mutual promises and covenants set forth in this Agreement, the adequacy and sufficiency ofwhich consideration is acknowledged, and, without the TXU Defendants having admitted any of the validity of any aliegations made in the Litigation, the City and the TXiJ Defendants agree as follows: 1. AMENDMENTS TO THE ELECTRIC FRANCHISE ORDINANCE As the result of electric industry restructuring, the electric franchise formerly held by TXU Electric has been assigned to Oncor Electric Delivery Company ("Oncor"), accordingly, effective January 1, 2002, the City agrees to enter into and TXU Electric agrees to cause Oncor to COMPROMISE SETTLEMENT AND RELEASE AGREEMENT - Paee 1 EXHIBIT A..