RATES AND TERMS BINDING; FERC STANDARD OF REVIEW Sample Clauses

The "Rates and Terms Binding; FERC Standard of Review" clause establishes that the rates, terms, and conditions agreed upon in the contract are binding on the parties and are not subject to unilateral change. In practice, this means that neither party can seek to modify the contract's rates or terms through filings with the Federal Energy Regulatory Commission (FERC) except under very limited circumstances, typically requiring mutual agreement or a demonstration of serious public interest concerns. This clause provides contractual certainty and stability by preventing unexpected changes to key commercial terms, thereby protecting both parties from regulatory or unilateral alterations.
RATES AND TERMS BINDING; FERC STANDARD OF REVIEW. 11.1 Mobile-Sierra Doctrine.
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RATES AND TERMS BINDING; FERC STANDARD OF REVIEW. 36 Section 19.2. Entire Agreement; Amendments 37
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RATES AND TERMS BINDING; FERC STANDARD OF REVIEW. (a) Absent agreement of both Parties to the proposed change, the standard of review for changes to any section or any other provision of this Agreement (other than changes to market- based rate tariffs that do not have any application to or effect on this Agreement), whether proposed by a Party (to the extent that any waiver in Section 19.1(b) is unenforceable or ineffective as to such Party), a non-party or FERC acting sua sponte, shall be solely the “public interest” standard of review set forth in United Gas Pipe Line Co. v. Mobile Gas Service Corp., ▇▇▇ ▇.▇. ▇▇▇ (1956) and Federal Power Commission v. Sierra Pacific Power Co., 350 U.S. 348 (1956) and clarified by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital Group, Inc. v. Public Utility District No. 1 of Snohomish County, 554‌ U.S. 527 (2008), and NRG Power Marketing, LLC v. Maine Public Utilities Commission, ▇▇▇ ▇.▇. ▇▇▇ (2010) (the “Mobile-Sierra” doctrine). (b) In addition, and notwithstanding the foregoing subsection (a), to the fullest extent permitted by applicable Law, each Party, for itself and its successors and assigns, hereby expressly and irrevocably waives any rights it can or may have, now or in the future, whether under §§ 205 or 206 of the Federal Power Act or otherwise, to seek to obtain from FERC by any means, directly or indirectly (through complaint, investigation or otherwise), and each hereby covenants and agrees not at any time to seek to so obtain, an order from FERC changing any section of this Agreement specifying the rate, charge, classification, or other term or condition agreed to by the Parties, it being the express intent of the Parties that, to the fullest extent permitted by applicable Law, neither Party will unilaterally seek to obtain from FERC any relief changing the rate, charge, classification, or other term or condition of this Agreement, notwithstanding any subsequent changes that may occur in applicable Law or market conditions. In the event that applicable Law precludes the Parties from waiving their rights to seek changes from FERC to their market-based power sales contracts (including entering into covenants not to do so) then this Section 19.1(b) will not apply, provided that, consistent with Section 19.1(a), such change may be made only if‌ the person seeking the change demonstrates that such change is required by the “public interest” as set forth in Section 19.1(a).
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RATES AND TERMS BINDING; FERC STANDARD OF REVIEW. 1Mobile-Sierra Doctrine .
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Related to RATES AND TERMS BINDING; FERC STANDARD OF REVIEW

  • Standard of Review The Parties acknowledge and agree that the standard of review for any avoidance, breach, rejection, termination or other cessation of performance of or changes to any portion of this integrated, non-severable Agreement (as described in Section 22) over which FERC has jurisdiction, whether proposed by Seller, by Buyer, by a non-party of, by FERC acting sua sponte shall be the “public interest” standard of review set forth in United Gas Pipe Line Co. v.

  • Terms Binding By acceptance of this Warrant, the Holder accepts and agrees to be bound by all the terms and conditions of this Warrant.

  • Assignability; Binding Nature This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, heirs and assigns; provided, however, that no rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive, other than rights to compensation and benefits hereunder, which may be transferred only by will or operation of law and subject to the limitations of this Agreement; and provided, further, that no rights or obligations of the Company under this Agreement may be assigned or transferred by the Company, except that such rights or obligations may be assigned or transferred pursuant to a merger or consolidation in which the Company is not the continuing entity, or the sale or liquidation of all or substantially all of the assets of the Company, provided that the assignee or transferee is the successor to all or substantially all of the assets of the Company and such assignee or transferee assumes the liabilities, obligations and duties of the Company under this Agreement, either contractually or as a matter of law.

  • Provisions Binding, Etc The obligations of this Lease shall run with the land, and except as herein otherwise provided, the terms hereof shall be binding upon and shall inure to the benefit of the successors and assigns, respectively, of Landlord and Tenant and, if Tenant shall be an individual, upon and to his heirs, executors, administrators, successors and assigns. Each term and each provision of this Lease to be performed by Tenant shall be construed to be both a covenant and a condition. The reference contained to successors and assigns of Tenant is not intended to constitute a consent to subletting or assignment by Tenant.

  • Certification of Meeting or Exceeding Tobacco-Free Workplace Policy Minimum Standards A. Grantee certifies that it has adopted and enforces a Tobacco-Free Workplace Policy that meets or exceeds all of the following minimum standards of: i. Prohibiting the use of all forms of tobacco products, including but not limited to cigarettes, cigars, pipes, water pipes (hookah), bidis, kreteks, electronic cigarettes, smokeless tobacco, snuff and chewing tobacco; ii. Designating the property to which this Policy applies as a "designated area,” which must at least comprise all buildings and structures where activities funded under this Grant Agreement are taking place, as well as Grantee owned, leased, or controlled sidewalks, parking lots, walkways, and attached parking structures immediately adjacent to this designated area; iii. Applying to all employees and visitors in this designated area; and iv. Providing for or referring its employees to tobacco use cessation services. B. If Grantee cannot meet these minimum standards, it must obtain a waiver from the System Agency.