RES 96016 - Laserfiche WebLink

10. Disbursement of FundS: Subject to the terms and conditions of this Agreement, ABAG agrees to provide for sale and delivery, and Public Agency agrees to receive and to pay ABAG for natural gas. Further, Public Agency agrees to pay for the Actual Charges. 10.1 An escrow account for the purposes of receiving payments by Participants and making payments to the Utilities, the gas supplier and other payees as authorized by ABAG will be established. 10.2 The instructions for this escrow account have been approved by ABAG, and shall include a list of the authorized recipients of payments from the account. 10.3 Only ABAG may authorize release of funds from the escrow account, and such shall only be to those payees identified in the escrow instructions. 11. Gas Program Pricing: The gas charges to the participants will include the gas commodity per therm rate which shall be equal to ninety-four and one-half percent (94.5 %) of the Utility 's core subscription weighted average cost of gas (WACOG) multiplied by Public Agency's gas usage plus the applicable utility transportation charges. Any storage injection charges or storage withdraw credits will be calculated at the gas commodity per therm rate for the applicable month. The gas commodity price stated in this paragraph shall remain in effect until June 30, 1997. 12. Change of Regulations: Any future change in law, rule or regulation, or utility practice which prohibits or frustrates ABAG or the Public Agency from carrying out the terms of this Agreement shall excuse both parties from their obligations, other than the obligation of Public Agency to make payments due for gas and services received. 13. Cancellation of Service: 13.1 Cancellation by Public A~encv: Commencing in 1997, Public Agency may only withdraw or cancel this Agreement consistent with the rules and regulations promulgated by the CPUC and in a manner which releases ABAG from all responsibility and liability related to the subject matter of the Agreement. Public Agency may cancel the contract by giving ABAG written notice by June 15 of its intent to terminate on June 30 of that current year. ABAG may limit a Public Agency' s ability to cancel at dates other than June 30. 13.2 Cancellation by ABAG: Actions by the utilities and/or CPUC to develop rules which are in conflict with sound business practices, or impose unnecessary risk on either party to this Agreement, or substantially prevent ABAG from performing its functions under this Agreement may result in the cancellation of this Agreement by ABAG. ABAG shall give Public Agency written notice ninety (90) days prior to such cancellation and both parties shall work diligently to minimize the negative effects on ABAG and the Public Agency of such cancellation. °5-