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AgdaPkt 2015-03-23 Closed and Joint SA PFA
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AgdaPkt 2015-03-23 Closed and Joint SA PFA
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Last modified
3/24/2015 9:22:13 AM
Creation date
3/19/2015 4:55:14 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
3/23/2015
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8.A. - Page 43 <br /> not require compliance with Section 9.1. Except to the extent that this Agreement <br /> expressly permits a Party to suspend performance, pending final resolution of a Dispute, <br /> the Parties shall each proceed diligently and faithfully with performance of their <br /> respective obligations under this Agreement. If the Dispute remains unresolved, the <br /> Parties may mutually agree to submit the dispute to non-binding mediation. In such <br /> mediation, representatives of the Parties with authority to resolve the dispute shall meet <br /> for at least three (3) hours with a mediator mutually agreeable to the parties whom they <br /> choose together, and share costs for such equally. <br /> 9.2 Notwithstanding anything to the contrary, this Article is not intended to limit or restrict <br /> the rights of either Party to seek any judicial remedy or otherwise negate the <br /> requirements of the Government Claims Act, if applicable. For avoidance of doubt, any <br /> claims against Buyer, as a public agency, must first be submitted under the Government <br /> Claims Act, if applicable, prior to pursuing judicial remedy. <br /> ARTICLE 10: DEFAULT& REMEDIES <br /> 10.1 Events of Default Generally. <br /> The following is a list of non-exclusive events of default (each, an "Event of Default," and <br /> collectively "Events of Default") They shall constitute a Seller's default or Buyer's default <br /> as specified below and are in addition to those Events of Default specified in Sections 10.2 <br /> and 10.3: <br /> a) Seller delivers to Buyer, without Buyer's consent, energy or other product from a <br /> resource other than the Generating Facilities specified in this Agreement; or <br /> b) If, for six (6) consecutive months, a Facility does not meet fifty percent (50%) of the <br /> Expected Annual Contract Quantity for such six-month period as specified in <br /> Schedule 7 of this Agreement after adjustments for weather and Lost Output Events; <br /> or <br /> c) Seller sells or transfers Output to any Person other than Buyer, except as may be <br /> permitted herein; or <br /> d) Either Party fails to maintain any insurance required pursuant to this Agreement; or <br /> e) A court shall have made or entered any decree or order: (i) adjudging a Party to be <br /> bankrupt or insolvent; (ii)approving as properly filed a petition seeking reorganization <br /> of such Party or an arrangement under the bankruptcy laws or any other applicable <br /> debtor's relief law or statute of the United States or any state thereof; (iii) appointing <br /> a receiver, trustee or assignee of such Party in bankruptcy or insolvency or for its <br /> property; (iv) directing the winding up or liquidation of such Party and such decree or <br /> order shall have continued for a period of sixty (60) days; or (v) such Party shall have <br /> voluntarily submitted to or filed a petition seeking any such decree or order; or <br /> ATTY/AGR/2015.012/POWER PURCHASE AGREEMENT-CEI SOLAR ONE LLC <br /> REV:01-21-15 MLG <br /> Page 35 of 55 <br />
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