4.2. ERMUSR 07-12-2011 - Laserfiche WebLink

Home Browse Search

Agreement to Transfer Election Share expended or incurred by CMMPA pursuant to the CMMPA-Delano Development Project Agreement, including (without ]imitation) any amounts required to fund the "true-up" of amounts owed by CMMPA to the other parties to the CapX 2020 Brookings Development Agreement resulting from CMMPA electing, pursuant to the CapX 2020 Brookings Development Agreement, to participate in the Brookings -Southeast Twin Cities transmission project at a percentage greater than 2.2% (clauses (A) and (B) of this subpazagraph (ii) together, the "Assumed Development Costs"); and (iii) grant the waivers and releases as set forth in Section 402 of this Transfer Agreement Section 203. Obligations Retained by Delano. Except for the Reimbursement Amount and Assumed Development Costs as set forth in Section 202(b) of this Transfer Agreement and except to the extent released pursuant to Sections 402 and 403 of this Transfer Agreement, Delano retains all obligations and liabilities arising under the CMMPA-Delano Development Project Agreement before the Effective Date, including (without limitation) responsibility for the balance of amounts expended or incurred by CMMPA that have been allocated and billed to Delano pursuant to the CMMPA-Delano Development Project Agreement as of the Effective Date. ARTICLE 3 APPORTIONMENT, FINANCING, AND BILLING Section 301. Apportionment of Transferred Rights, Assumed Development Costs, and Reimbursement Amount. The Transferred Rights and Assumed Development Costs shall be apportioned among the Acquiring Cities in the manner set forth in Part 1 of Exhibit A to this Transfer Agreement; provided, however, that payment by the Acquiring Cities to CMMPA with respect to the Assumed Development Costs shall be made in accordance with paragraph (b) of Section 302 of this Transfer Agreement. Each Acquiring City shall be responsible for that portion of the Reimbursement Amount set forth opposite its name in Part 2 of Exhibit A to this Transfer Agreement; provided, however, that CMMPA shall make delivery of the Reimbursement Amount to the Delano Water, Light & Power Commission as provided in Section 302(a) of this Transfer Agreement, and payment by the Acquiring Cities to CMMPA with respect to the Reimbursement Amount shall be made in accordance with paragraph (b) of Section 302 of this Transfer Agreement. Section 302. CMMPA Financing and Billing Treatment of Reimbursement Amount and Assumed Development Costs. (a) Promptly following the Closing Date, CMMPA shall deliver to the Delano Water, Light & Power Commission, on behalf of the Acquiring Cities and subject to pazagraph (b) of this Section 302, the Reimbursement Amount. 5