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<br />this Agreement, CITY and LCRA shall have entered into a Wholesale <br />Power Agreement pertaining to the purchase by CITY from LCRA of <br /> <br />electric power and energy, which shall be substantially in the <br /> <br />form set out in an instrument marked as Exhibit 15, attached to <br /> <br />this Agreement and incorporated herein by reference. <br /> <br />8.02 At the time of Closing of the sale of Properties under <br /> <br />this Agreement, CITY and LCRA shall have entered into an Operating <br />Agreement providing for the retention by CITY of LCRA as Operating <br /> <br />Agent, which shall be substantially in the form set out in an <br /> <br />instrument marked as Exhibit 16, attached to this Agreement and <br /> <br />incorporated herein by reference. <br /> <br />ARTICLE IX <br />CLOSING DATE AND RISKS PENDING CLOSING <br /> <br />9.01 The Closing Date under this Agreement shall be October <br /> <br />30, 1986. <br /> <br />To the extent it has not already become effective by <br /> <br />other conduct or agreement of LCRA and CITY, this Agreement shall <br /> <br />become effective immediately upon its execution on the Closing <br /> <br />Date. <br /> <br />It is agreed, however, that at the option of either CITY or <br /> <br />LCRA, the Closing Date may be postponed until a date up to ninety <br /> <br />(90) days after the date all requisite approvals of the Public <br />Utility Commission of Texas have been obtained, provided the Party <br /> <br />exercising this option shall give the other Party not less than <br /> <br />19. <br />