First Amendment to Master Power Purchase and Sale Agreement between Commerce Energy, Inc. and Tenaska Power Services Co.

Contract Categories: Business Finance › Modification Agreements
Summary

Commerce Energy, Inc. and Tenaska Power Services Co. have agreed to amend their existing Master Power Purchase and Sale Agreement, originally dated August 1, 2005. This amendment, effective May 25, 2007, changes certain terms in the agreement's cover sheet, including the selection of a different closeout setoff option and the removal or modification of specific provisions. All other terms of the original agreement remain unchanged.

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EX-10.86 17 a34755exv10w86.htm EXHIBIT 10.86 exv10w86  

Exhibit 10.86
FIRST AMENDMENT TO
MASTER POWER PURCHASE AND SALE AGREEMENT
     This First Amendment (“Amendment”) is made effective as of the 25th day of May, 2007, between Commerce Energy, Inc. (“CEI”) and Tenaska Power Services Co. (“TPS”) (hereinafter collectively the “Parties”), amending the Master Power Purchase and Sale Agreement entered by the Parties as of August 1, 2005 (“Agreement”).
     WHEREAS, CEI and TPS are Parties to the Agreement; and
      WHEREAS, CEI and TPS now desire to amend the Agreement, and
     NOW, THEREFORE, in consideration of the premises together with other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by both Parties, CEI and TPS hereby agree as follows:
AMENDMENT
1.   Unless otherwise defined in this Amendment, capitalized terms used in this Amendment shall have the same meaning as that given such terms in the Agreement.
 
2.   The Parties agree to amend Section 5.6 “Closeout Setoff” of the Cover Sheet to the Agreement by unselecting Option B and selecting Option A in its place.
 
3.   The Parties agree to amend the “Additional Provisions” of the Cover Sheet to the Agreement by deleting Section 1.1 in its entirety.
 
4.   The Parties agree to further amend the “Additional Provisions” of the Cover Sheet to the Agreement by deleting the phrase “or any of its Affiliates” in the second sentence of the Section 5.4
 
5.   Except to the extent modified by this Amendment, the provisions of the Agreement remain the same.
             
    Commerce Energy, Inc.    
 
            
 
  By:   /s/ R. Nick Cioll    
 
           
 
  Name:   R. Nick Cioll    
 
  Title:   Chief Risk Officer    
 
            
    Tenaska Power Services Co.    
 
            
 
  By:   /s/ Trudy Harper    
 
           
 
  Name:   Trudy Harper    
 
  Title:   President