Common use of Compliance with Laws and Regulations and Governing Documentation Clause in Contracts

Compliance with Laws and Regulations and Governing Documentation. (a) The Counterparty and the Generator shall each comply, in all material respects, with all Laws and Regulations required to perform or comply with their respective obligations under this Agreement. (b) The Counterparty and the Generator shall each obtain and maintain in good standing, or cause to be obtained and maintained in good standing, on its behalf, any material licence, permit, certificate, registration, authorization, consent or approval of any Governmental Authority required to perform or comply with their respective obligations under this Agreement, including such licensing as is required by the OEB and the CNSC. (c) The Counterparty acknowledges that in the event of any inconsistency between any order, direction or licensing requirement of the CNSC applicable to the Generator and any IESO Market Rules, the Generator has determined to treat such CNSC order, direction or licensing requirement as governing to the extent of the inconsistency and the Counterparty agrees that such determination shall not constitute a breach of any provision of this Agreement. The Generator shall notify the Counterparty within thirty (30) days of a senior officer of the Generator determining that such inconsistency exists and understanding the implications thereof, provided that the failure to do so shall not constitute a Generator Event of Default.

Compliance with Laws and Regulations and Governing Documentation. ‌ (a) The Counterparty and the Generator shall each comply, in all material respects, with all Laws and Regulations required to perform or comply with their respective obligations under this Agreement. (b) The Counterparty and the Generator shall each obtain and maintain in good standing, or cause to be obtained and maintained in good standing, on its behalf, any material licence, permit, certificate, registration, authorization, consent or approval of any Governmental Authority required to perform or comply with their respective obligations under this Agreement, including such licensing as is required by the OEB and the CNSC. (c) The Counterparty acknowledges that in the event of any inconsistency between any order, direction or licensing requirement of the CNSC applicable to the Generator and any IESO Market Rules, the Generator has determined to treat such CNSC order, direction or licensing requirement as governing to the extent of the inconsistency and the Counterparty agrees that such determination shall not constitute a breach of any provision of this Agreement. The Generator shall notify the Counterparty within thirty (30) days of a senior officer of the Generator determining that such inconsistency exists and understanding the implications thereof, provided that the failure to do so shall not constitute a Generator Event of Default.