DISTRIBUTIONS.
THE PX AND ISO SHALL
REFLECT DEEMED DISTRIBUTIONS ON THE BOOKS AND RECORDS OF THE PX AND ISO AS
REDUCTIONS IN THE AMOUNTS OWED TO THE PX AND/OR ISO BY ANY SETTLING PARTICIPANT
THAT RECEIVES A DEEMED DISTRIBUTION.
7.2.3
ACCOUNTING TREATMENT OF DISTRIBUTIONS TO NON-SETTLING
PARTICIPANTS.
THE ISO AND PX SHALL REFLECT DISTRIBUTIONS FROM THE RELIANT
REFUND ESCROW TO NON-SETTLING PARTICIPANTS PURSUANT TO SECTION 6.8 AS PAYMENTS
TO NON-SETTLING PARTICIPANTS.
7.3
TERMINATION OF INTEREST ACCRUAL.
THE PX AND ISO SHALL REFLECT IN
THEIR BOOKS AND RECORDS, WITH RESPECT TO SETTLING PARTICIPANTS, THAT THE ACCRUAL
OF INTEREST AT THE FERC-ESTABLISHED RATE ON PRINCIPAL AMOUNTS SUBJECT TO THE
FERC INTEREST DETERMINATION AS PROVIDED FOR IN SECTION 6.12 CEASES UPON THE
DISTRIBUTION OF FUNDS FROM THE PX AND/OR THE ISO TO THE RELIANT REFUND ESCROW
PURSUANT TO THIS AGREEMENT, OR AS MAY BE ACCOMPLISHED THROUGH THE IMPLEMENTATION
OF DEEMED DISTRIBUTIONS, AND, FOR PURPOSES OF THE ACCOUNTS OF THE PX AND THE
ISO, NO INTEREST ON SUCH FUNDS SHALL ACCRUE AFTER DISTRIBUTION EXCEPT AS MAY BE
EARNED ON TRANSFERRED AMOUNTS WHILE ON DEPOSIT IN THE RELIANT REFUND ESCROW.
7.4
IMPLEMENTATION OF AGREEMENT.
FERC'S APPROVAL OF THIS AGREEMENT IN
THE FERC SETTLEMENT ORDER SHALL CONSTITUTE ITS DIRECTION (I) TO THE ISO AND THE
PX TO RECOGNIZE AND IMPLEMENT THE ASSIGNMENT OF THE RELIANT RECEIVABLES AND THE
TREATMENT OF PX WIND-UP CHARGES IN ACCORDANCE WITH THIS AGREEMENT, AND (II) TO
THE PX TO REVERSE ANY OFFSETS PREVIOUSLY MADE TO THE RELIANT RECEIVABLES TO
REFLECT PX WIND-UP CHARGES THAT RELIANT IS INSTEAD OBLIGATED TO PAY IN CASH
PURSUANT TO SECTION 8.7.7 OF THIS AGREEMENT.
7.5
DUTY OF COOPERATION.
EACH PARTY SHALL REASONABLY AND IN GOOD
FAITH COOPERATE AND TAKE ALL REASONABLE STEPS TO SECURE (I) THE RELEASE OF FUNDS
FROM THE PX SETTLEMENT CLEARING ACCOUNT TO THE RELIANT REFUND ESCROW AS
CONTEMPLATED BY THIS AGREEMENT; (II) THE ACCOUNTING TREATMENT CONTEMPLATED UNDER
THIS ARTICLE 7; AND (III) ANY OTHER ACTS OF THE PX OR THE ISO NECESSARY TO
EFFECTUATE THE TERMS OF
32
THIS AGREEMENT.
THIS DUTY OF COOPERATION SHALL INCLUDE MAKING INDIVIDUAL OR
JOINT REQUESTS TO THE PX OR THE ISO, EXECUTING APPROPRIATE WAIVERS, PROVIDING
DATA AND PROVIDING OTHER ASSISTANCE TO THE PX AND THE ISO AS NECESSARY TO
IMPLEMENT THIS AGREEMENT.
7.6
TARIFF WAIVERS.
FERC'S APPROVAL OF THIS AGREEMENT IN THE FERC
SETTLEMENT ORDER SHALL CONSTITUTE A GRANT OF SUCH WAIVERS OF THE ISO AND THE PX
TARIFFS AS MAY BE NECESSARY FOR THE ISO AND THE PX TO DISBURSE SUCH FUNDS AS
REQUIRED BY THIS AGREEMENT, TO ACCOUNT FOR TRANSFERS, ALLOCATIONS AND
DISTRIBUTIONS OF FUNDS AS REQUIRED BY THIS AGREEMENT, AND TO OTHERWISE IMPLEMENT
THIS AGREEMENT.
8.
SCOPE OF SETTLEMENT AND RELEASES; WITHDRAWALS, RELEASES AND
WAIVERS
8.1
SETTLEMENT.
8.1.1
SETTLEMENT OF FERC REFUND PROCEEDINGS.
IN RETURN FOR THE
CONSIDERATION SPECIFIED ELSEWHERE IN THIS AGREEMENT, AND SUBJECT TO THE REQUIRED
REGULATORY APPROVALS UNDER THIS SETTLEMENT, ALL CLAIMS AGAINST RELIANT FOR
REFUNDS, DISGORGEMENT OF PROFITS, BILLING ADJUSTMENTS, OR OTHER MONETARY OR
NON-MONETARY REMEDIES IN THE