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Show COLUMBIA RIVER TREATY 437 posing of such rights under such arrangements as may be necessary to retire the corporate indebtedness and to pay the necessary expenses of GSPE incidental thereto. "F. The Governments of the United States of America and Canada, as contemplated by Article VIII of the Treaty and in pursuance of the Agreement of the two Governments contained in an Exchange of Notes dated January 22,1964, relating thereto, are by an Exchange of Notes authorizing the disposition for a term of years within the United States of America of Canada's rights to downstream power benefits under the Treaty, which disposition when so authorized is to be effectuated by this Agreement in accordance with the provi- sions of the Treaty and documents supplementary thereto. "Now, therefore, it is agreed: "SECTION" 1. TERM "This Agreement shall be effective when authorized by the Gov- ernments of Canada and the United States of America by an Ex- change of Notes pursuant to the Treaty and shall terminate at midnight on March 31,2003. "SECTION 2. CONVEYANCE " (1) The Authority does hereby sell, assign, and convey unto CSPE, and CSPE does hereby accept, the entitlement of Canada, as described in Article V(l) of the Treaty, to the downstream power benefits de- termined in accordance with Article VII of the Treaty, save and ex- cept the entitlement of Canada to the downstream power benefits resulting from the construction or operation of the project referred to in Article IX of the Treaty, for the following periods of time: " (a) The benefits resulting from the storage described in Arti- cle 11(2) (c) of the Treaty (hereinafter referred to as Duncan Lake storage) for a period of 30 years commencing April 1,1968; and " (b) The benefits resulting from the storage described in Article 11(2) (b) of the Treaty (hereinafter referred to as Arrow Lakes storage) for a period of 30 years commencing April 1, 1969; and "(c) The benefits resulting from the storage described in Ar- ticle 11(2) (a) of the Treaty (hereinafter referred to as Mica Creek storage) for a period of 30 years commencing April 1, 1973. " (2) All of the entitlement to the downstream power benefits hereby conveyed for the aforementioned periods of time, without the reduc- tions provided for in paragraph 7 of Annex A of the Treaty is here- inafter referred to as "the Canadian Entitlement". "(3) For the purpose of allocating downstream power benefits among the three Canadian storages provided for in the Treaty between April 1, 1998, and March 31, 2003, the percentage of downstream power benefits allocable to each of the said storages shall be the per- centage of the total of the Canadian storages provided by that storage as set out in Article II of the Treaty. |
