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1.1.23 "Voting Shares Formula"means the weight applied to a Voting Shares <br /> Vote and is determined by the following formula: <br /> (Annual Energy Use/Total Annual Energy)multiplied by 100,where(a) <br /> "Annual Energy Use"means(i)with respect to the first two years <br /> following the Effective Date,the atmual electricity usage,expressed in <br /> kilowatt hours("1CWh"),within the Parry's respective jurisdiction and(ii) <br /> with respect to the period after the second anniversary of the Effective <br /> Date,the annual electricity usage,expressed in kWh,of accounts within a <br /> Parry's respective jurisdiction that are served by the Authority and(b) <br /> "Total Annual Energy"means the sum of all Parties' Annual Energy Use. <br /> The initial values for Annual Energy use are designated is Exhibit B and <br /> the initial voting shares are designated in Exhibit C. Both Exhibits B and <br /> C shall be adjusted annually as soon as reasonably practicable after <br /> January 1,but no later than March 1 of each year subject to the approval <br /> of the Board. <br /> 1.2 Documents Included. This Agreement consists of this document and the <br /> following exhibits,all of which are hereby incorporated into this Agreement. <br /> Exhibit A: List of the Parties <br /> Exhibit B: Annual Energy Use <br /> Exhibit C: Voting Shares <br /> 1.3 Revision of Exhibits.The Parties agree that Exhibits A,B and C to this <br /> Agreement describe certain administrative matters that may be revised upon the approval of the <br /> Board,without such revision constituting an amendment to this Agreement,as described in <br /> Section 8.4. The Authority shall provide written notice to the Parties of the revision of any such <br /> exhibit. <br /> ARTICLE 2 <br /> FORMATION OF EAST BAY COMMUNITY ENERGY AUTHORITY <br /> 2.1 Effective Date and Term.This Agreement shall become effective and East Bay <br /> Community Energy Authority shall exist as a separate public agency on December 1,2016, <br /> provided that this Agreement is executed on or prior to such date by at least three Initial <br /> Participants after the adoption of the ordinances required by Public Utilities Code Section <br /> 366.2(c)(12). The Authority shall provide notice to the Parties of the Effective Date. The <br /> Authority shall continue to exist, and this Agreement shall be effective,until this Agreement is <br /> terminated in accordance with Section 7.3, subject to the rights of the Parties to withdraw from <br /> the Authority. <br /> December 1,2016 -5- <br />