35.18Effective Date, Implementation, Term and Termination

35.18.1Effective Date; Implementation. 

This Agreement shall become effective as of the date that all of the following have occurred: (i) upon the execution hereof by both Parties, and (ii) acceptance or approval by the Federal Energy Regulatory Commission.  Commencing with the Effective Date, the Parties shall commence and continue efforts to implement other provisions of this Agreement on dates determined by the Coordination Committee, which dates shall be the earliest dates reasonably feasible for both Parties.

35.18.2Term. 

This Agreement shall continue in full force and effect for a term of ten (10) years, and shall continue year to year thereafter, unless terminated earlier in accordance with the provisions of this Agreement.

35.18.3Right of a Party to Terminate.

35.18.3.1NYISO may terminate this Agreement at any time upon not less than twelve (12) months’ Notice to PJM.

35.18.3.2PJM may terminate this Agreement at any time upon not less than twelve (12) months’ Notice to NYISO.

35.18.3.3This Agreement may be terminated at anytime by mutual agreement in writing.

35.18.4Survival. 

The applicable provisions of this Agreement shall continue in effect after any termination of this Agreement to provide for adjustments and payments under Section 35.15, dispute resolution, determination and enforcement of liability, and indemnification, arising from acts or events that occurred during the period this Agreement was in effect. 

35.18.5Post-Termination Cooperation.

Following any termination of this Agreement, all Parties shall thereafter cooperate fully and work diligently in good faith to achieve an orderly resolution of all matters resulting from such termination.