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2018_08-28_PWETCpacket
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2018_08-28_PWETCpacket
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8/31/2018 9:09:33 AM
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8/31/2018 9:06:02 AM
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Commission/Committee
Commission/Authority Name
Public Works Commission
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
8/28/2018
Commission/Committee - Meeting Type
Regular
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prorated for any partial month during the Term. Such invoice shall include <br />sufficient details so that Subscriber can reasonably confirm the accuracy of the <br />invoice. Subscriber shall pay the amount due to Operator within thirty (30) <br />Business Days after receipt of each invoice. Payments not made within 30 days <br />of receipt of Operator's invoice shall be subject to a penalty equal to one (1) <br />percent per month of the invoiced amount until paid. <br />(b) Operator agrees to work in good faith with Subscriber to establish a <br />system of invoicing and payment that is as efficient as possible for Subscriber <br />and is as consistent as possible with Subscriber's system for accounts payable. <br />X. ASSIGNMENT <br />10.1 Subscriber may not assign its interest or obligations under this Agreement <br />except as provided in Article VIII. <br />10.2 Operator may assign any or all of its interests and obligations in this <br />Agreement upon notice to Subscriber of such assignment. Any assignee shall be <br />subject to the terms and conditions of this Agreement unless otherwise agreed to <br />in writing by Subscriber. <br />10.3 The Parties acknowledge that Operator may obtain construction and long- <br />term financing, other credit support or tax equity financing, either directly or <br />through an affiliate, from financing parties in connection with the development <br />and ownership of the Project (the "Project Financing"). Both Parties agree in <br />good faith to consider and to negotiate changes or additions to this Agreement <br />that may be reasonably requested by the financing parties in order to support the <br />Project Financing. <br />10.4 The Parties agree that, in accordance with Section 10.3, Operator may <br />assign this Agreement to a tax equity partnership or a third party Project owner, <br />or to financing parties as collateral to support the Project and Operator's <br />obligations to such financing parties. <br />10.5 In connection with any such assignment by Operator, Subscriber agrees <br />that an assignee or financing parties shall be entitled to (i) assume the rights and <br />obligations of Operator under this Agreement; (ii) receive copies of certain <br />notices hereunder that Subscriber may provide to Operator; (iii) have the same <br />extended cure periods to cure any defaults by Operator hereunder; and (iv) be <br />provided other similar or related benefits or protections as reasonably requested <br />by the owner and/or financing parties to support the Project Financing. <br />XI. TAXES <br />Operator makes no representations concerning the taxable consequences to <br />Subscriber with respect to Bill Credits or any other aspect of this Agreement. <br />0 <br />
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