Shared Network Upgrade definition
Examples of Shared Network Upgrade in a sentence
Transmission Provider will reevaluate the need for any Common Use Upgrade(s) and/or Shared Network Upgrade(s), and if still required, reallocate the cost and responsibility for any Common Use Upgrade and/or Shared Network Upgrade, without a restudy when possible, or with a restudy if the Transmission Provider deems it necessary in order to ensure reliability of the Transmission System.
Shared Network Upgrade shall mean a Network Upgrade listed in Appendix A of the Generator Interconnection Agreement that is needed for the interconnection of multiple Interconnection Customers’ Generating Facilities and which is the shared funding responsibility of such Interconnection Customers that may also benefit other Interconnection Customer(s) that are later identified as beneficiaries.
The validity, interpretation and performance of this Agreement and each of its provisions shall be governed by the laws of the state where the Shared Network Upgrade is located, without regard to its conflicts of law principles.
Transmission Owner shall (or shall cause such action to) design, procure, construct and install the Shared Network Upgrade identified in Appendix A.
The Shared Network Upgrade designed, procured, constructed and installed by Transmission Owner pursuant to this Agreement shall satisfy all requirements of applicable safety and/or engineering codes, including those requirements of Transmission Owner and comply with Good Utility Practice, and further, shall satisfy all Applicable Laws and Regulations.
Customers shall pay to Transmission Owner costs associated with seeking and obtaining all necessary approvals and of designing, engineering, constructing, and testing the Shared Network Upgrade, as identified in Appendix A, in accordance with the cost recovery method provided herein.
A Customer’s irrevocable security will not be refunded in the event Customer is terminated from this Agreement, unless otherwise provided for in Article 6.1. Excess security will be refunded or released if any funds remain when the Shared Network Upgrade is placed in service or if Transmission Provider determines that the Shared Network Upgrade is no longer needed.
Within six (6) months after completion of the construction of the Shared Network Upgrade, unless otherwise agreed to under Appendix A, Transmission Owner shall provide an invoice of the final cost of the construction of the Shared Network Upgrade and shall set forth such costs in sufficient detail to enable each Customer to compare the actual costs with the estimates and to ascertain deviations, if any, from the cost estimates.
Transmission Owner may also cure such Breach by funding the proportionate share of the Shared Network Upgrade costs related to the Breach of Customer.
In the event of a billing dispute among the Parties, Transmission Owner shall continue to construct the Shared Network Upgrade as long as each Customer: (i) continues to make all payments not in dispute; and (ii) pays to Transmission Provider or Transmission Owner or into an independent escrow account the portion of the invoice in dispute, pending resolution of such dispute.