Termination Due to SPP RTO Membership Clause Samples

The 'Termination Due to SPP RTO Membership' clause allows a party to end an agreement if one of the parties becomes a member of the Southwest Power Pool Regional Transmission Organization (SPP RTO). In practice, this clause typically applies to contracts involving energy transmission or power purchase, where changes in regulatory or operational affiliations—such as joining the SPP RTO—could significantly impact the terms or feasibility of the agreement. Its core function is to provide flexibility and risk mitigation by enabling parties to exit the contract if such a membership alters the business or regulatory landscape in a way that affects their interests.
Termination Due to SPP RTO Membership. If ▇▇▇▇ Participant becomes a member of the SPP Regional Transmission Organization operating in the Western Interconnection, this Agreement automatically terminates when ▇▇▇▇ Participant begins receiving services from SPP pursuant to an SPP membership agreement or an SPP open access transmission tariff applicable to transmission facilities in the Western Interconnection. ▇▇▇▇ Participant’s obligations under this Agreement will be terminated at such time ▇▇▇▇ Participant’s SPP membership agreement becomes effective. If ▇▇▇▇ Participant’s Agreement terminates pursuant to this Section 3.8, ▇▇▇▇ Participant’s last reported NEL will remain in the Billable Net Energy for Load described in Exhibit A for purposes of calculating the ▇▇▇▇ Rate and the terminating ▇▇▇▇ Participant’s NEL Share of Implementation Cost Remaining will be excluded from the calculation of Implementation Cost Remaining for all other ▇▇▇▇ Participants.
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Termination Due to SPP RTO Membership. If ▇▇▇▇ Participant is or becomes a member of the SPP Regional Transmission Organization (“SPP RTO”) operating in the Western Interconnection and the ▇▇▇▇ Participant transfers functional control of transmission facilities in the Western Interconnection to the SPP RTO or registers resources or loads located in the Western Interconnection in the SPP Integrated Marketplace, as applicable to such ▇▇▇▇ Participant (“SPP Western Integration”), this Agreement automatically terminates but only with respect to such ▇▇▇▇ Participant’s load, resources, and/or transmission facilities integrated into the SPP RTO operating in the Western Interconnection. The integrating ▇▇▇▇ Participant’s obligations under this Agreement will be terminated at such time the SPP Western Integration becomes effective, unless the ▇▇▇▇ Participant has Non-Original Load or other facilities registered under the ▇▇▇▇ Tariff that are not part of a SPP Western Integration. If ▇▇▇▇ Participant has Non-Original Load or other facilities registered under the ▇▇▇▇ Tariff that are not part of a SPP Western Integration, the ▇▇▇▇ Participant’s Agreement shall continue in effect as to the Non-Original Load. If ▇▇▇▇ Participant’s Agreement terminates in part or entirely pursuant to this Section 3.8, ▇▇▇▇ Participant’s last reported NEL (including or excluding Non-Original Load, as applicable) will remain in the Billable Net Energy for ▇▇▇▇ described in Exhibit A for purposes of calculating the ▇▇▇▇ Rate and the integrating ▇▇▇▇ Participant’s NEL Share of Implementation Cost Remaining will be excluded from the calculation of Implementation Cost Remaining for all other ▇▇▇▇ Participants.
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Related to Termination Due to SPP RTO Membership

  • Termination Due to Death If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect.

  • Termination Due to Death or Disability The expiration of one (1) year from the date of the death of the Optionee or cessation of an Optionee’s employment or contractual relationship by reason of disability (as defined in Section 5.1(g) of the Plan). If an Optionee’s employment or contractual relationship is terminated by death, any Option held by the Optionee shall be exercisable only by the person or persons to whom such Optionee’s rights under such Option shall pass by the Optionee’s will or by the laws of descent and distribution.

  • Termination Due to Retirement Upon termination of the Executive based on Retirement, no amounts or benefits shall be due the Executive under this Agreement, and the Executive shall be entitled to all benefits under any retirement plan of the Company and other plans to which the Executive is a party. Termination of the Executive’s employment based on “Retirement” shall mean termination of the Executive’s employment in accordance with a retirement policy established by the Board with the Executive’s consent.

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.

  • Termination Due To Lack Of Funding Appropriation If, in the judgment of the Director of Accounts and Reports, Department of Administration, sufficient funds are not appropriated to continue the function performed in this agreement and for the payment of the charges hereunder, State may terminate this agreement at the end of its current fiscal year. State agrees to give written notice of termination to contractor at least 30 days prior to the end of its current fiscal year, and shall give such notice for a greater period prior to the end of such fiscal year as may be provided in this contract, except that such notice shall not be required prior to 90 days before the end of such fiscal year. Contractor shall have the right, at the end of such fiscal year, to take possession of any equipment provided State under the contract. State will pay to the contractor all regular contractual payments incurred through the end of such fiscal year, plus contractual charges incidental to the return of any such equipment. Upon termination of the agreement by State, title to any such equipment shall revert to contractor at the end of the State's current fiscal year. The termination of the contract pursuant to this paragraph shall not cause any penalty to be charged to the agency or the contractor.