The Parties have entered into this Agreement for the purposes of (1) resolving all issues that have or could have been raised by the Parties in connection with a FERC order issuing a License for construcation and operation of the Proejct, including in part through agreement on an adaptive management process that the Parties will use to address uncertainties, and (2) agreeing to use an adaptive managment process to identify and implement additional studies that may be required pursuant to the Federal Power Act ("FPA") to evaluate a potential future application for an Expanded Project. Therefore, pursuant to the Parties' various authorities under the FPA as well as other statutory and regulatory authorities, this Agreement establishes the Company's obligations for the protection, mitigation, and enhancement of resources that may be affected by the Project under the License or procedures for determining those obligations, and it establishes the Parties' agreement on a process for identifying and implementing studies to be conducted or funded by the Company in relation to a future application for an Expanded Project.
Reedsport OPT Wave Park Settlement Agreement
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Ocean Power Technologies (2010). Reedsport OPT Wave Park Settlement Agreement. Report by Ocean Power Technologies (OPT). pp 263.