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Show 436 INTERNATIONAL TREATIES "(14) Any dispute arising under the Canadian Entitlement Pur- chase Agreement, including, but without limitation, a dispute whether any event requiring compensation has occurred, the amount of com- pensation due or the amount of any over-delivery of power is agreed to be a difference under the Treaty to be settled in accordance with the provisions of Article XVI of the Treaty, and the parties to the Cana- dian Entitlement Purchase Agreement may avail themselves of the jurisdiction hereby conferred." The text of the Canadian Entitlement Purchase Agreement referred to above is as follows: "This Agreement executed this thirteenth day of August, 1964, by and between Columbia Storage Power Exchange, a nonprofit corpo- ration organized under the laws of the State of Washington, herein- after referred to as "CSPE", and "British Columbia Hydro and Power Authority, a corporation incorporated in the Province of British Columbia, Canada, by the British Columbia Hydro and Power Authority Act, 1964, hereinafter referred to as "the Authority". "Whereas : "A. The Governments of the United States of America and Canada are exchanging instruments of ratification of the Treaty Between Canada and the United States of America Relating to the Cooperative Development of the Water Resources of the Columbia River Basin Signed at Washington January 17, 1961. By an Exchange of Notes dated January 22, 1964, the two Governments agreed upon the terms of a Protocol with effect from the date of the exchange of instruments of ratification of the Treaty aforesaid (which Treaty and Protocol are hereinafter referred to as the "Treaty"). "B. Under the terms of the Treaty, Canada is entitled to receive from the United States one half of the annual average usable energy and one half of the dependable hydroelectric capacity which can be realized in the United States each year as a result of use of the improved stream flow on the Columbia River created by storage to be constructed in Canada. "C. The Government of Canada and the Government of British Columbia have entered into an agreement dated 8 July, 1963, and & supplementary agreement dated 13 January, 1964, wherein it was agreed that all proprietary rights, title and interests arising under the Treaty, including all rights to downstream power benefits, belong to the Government of British Columbia, and providing that Canada shall designate the Authority as the Canadian Entity as provided for in Article XIV of the Treaty. Pursuant to such agreement Canada is designating the Authority as the Canadian Entity. "D. The Authority is, by virtue of an Order in Council of the Province of British Columbia, dated August 7, 1964, required and authorized to exercise all the rights and powers granted to the Cana- dian Entity and to perform all the obligations imposed on the Canadian Entity by the Treaty and to enter into this Agreement. "E. CSPE is incorporated with the object of purchasing for a term of years Canada's rights to downstream power benefits under the Treaty and incurring indebtedness to finance such purchase and dis- |
