Buyer’s Remedies upon Termination after the Commercial Operation Date Sample Clauses

Buyer’s Remedies upon Termination after the Commercial Operation Date. In the event that Buyer terminates this Agreement due to an Event of Default by Seller occurring on or after the Commercial Operation Date, or Buyer terminates this Agreement after the Commercial Operation Date as otherwise provided herein, then Seller's remaining liability to Buyer (except for those obligations surviving termination as described in Section 15.19) shall be a Termination Payment in the amount of the then-present value (discounted at the prevailing prime rate of interest as published in The Wall Streetjournal on the day preceding the date of determination) of the cash flows equal to the product of (i) the positive difference (which in no event shall be less than fifty percent (50%) of the Net Energy Rate) of the price per kWh for commercially available solar energy from a substantially similar photovoltaic facility located in-state in the same applicable market(s) minus the applicable Net Energy Rate, multiplied by (ii) the number of days remaining in the then Term of the Agreement times the expected daily number of kWh of Net Energy to be delivered during the remainder of the Term (which in no event shall be less than the Contract Quantities required for the remainder of the Term) plus all reasonable costs and expenses (including the reasonable expenses and fees of Buyer's counsel) associated with the Event of Default and with procuring such alternative Net Energy, plus all other amounts accrued and owing to Buyer from Seller hereunder (e.g., overdue Delay Damages, Extension Payments, etc.). In the event that a "substantially similar photovoltaic facility located in-state in the same applicable market(s)" is not reasonably available for consideration, the "price per kWh for commercially available solar energy from a substantially similar photovoltaic facility located in-state in the same applicable market(s)" required above shall be the average of the two price quotes received from two (2) reputable and experienced brokers of solar energy selected by Buyer for such purpose. In each case, factors used in determining such market price may include a comparison of comparable transactions, third party quotations from leading dealers in energy contracts, forward price curves based on economic analysis of the relevant markets, and settlement prices for comparable transactions at liquid trading hubs (e.g., NYMEX). Each broker will be required to provide reasonable detail in writing as to its determination of its price quotation.
Sample 1
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Buyer’s Remedies upon Termination after the Commercial Operation Date. (a) In the event that Buyer terminates this Agreement due to an Event of Default by Seller occurring on or after the Commercial Operation Date, or this Agreement is terminated after the Commercial Operation Date other than as provided in Section 11.4(b) below, then Seller’s remaining liability to Buyer (except for those obligations surviving termination as described in Section 15.19) shall be a Termination Payment in the amount of the then- present value (discounted at the prevailing prime rate of interest as published in The Wall Street Journal on the day preceding the date of determination) of the cash flows equal to the positive difference derived from the following formula: (RateRE – Net Energy Rate) x (Dterm x Edaily) + C + O Where: RateRE is the price per kWh of Replacement Energy; (RateRE – Net Energy Rate) shall not be less than zero; Dterm is the number of days remaining in the Term; Edaily is the expected daily kWh of Net Energy to be delivered during the remainder of the Term, and no less than the Contract Quantities; C is all reasonable costs and expenses incurred by Buyer resulting from the Event(s) of Default (e.g., legal fees); and ELECTRONICALLY FILED - 2021 June 7 6:26 PM - SCPSC - Docket # 2021-88-E - Page 41 of 150 O is all other amounts such as owed by the Seller (e.g., overdue Delay Damages, Extension Payments, etc.). In the event that a price for Replacement Energy is not reasonably available for consideration, the price per kWh for Replacement Energy required above shall be the average of the two price quotes received from two (2) reputable and experienced brokers of energy selected by Buyer for such purpose. In each case, factors used in determining such market price may include a comparison of comparable transactions, third party quotations from leading dealers in energy contracts, forward price curves based on economic analysis of the relevant markets, and settlement prices for comparable transactions at liquid trading hubs (e.g., NYMEX). Each broker will be required to provide reasonable detail in writing as to its determination of its price quotation.
Sample 1

Related to Buyer’s Remedies upon Termination after the Commercial Operation Date

  • Actions upon Termination In the event of termination not the fault of the Contractor, the Contractor shall be paid for the services properly performed prior to termination, together with any reimbursable expenses then due, but in no event shall such compensation exceed the maximum compensation to be paid under the Contract. The Contractor agrees that this payment shall fully and adequately compensate the Contractor and all subcontractors for all profits, costs, expenses, losses, liabilities, damages, taxes, and charges of any kind whatsoever (whether foreseen or unforeseen) attributable to the termination of this Contract. Upon termination for any reason, the Contractor shall provide Seattle with the most current design documents, contract documents, writings and other product it has completed to the date of termination, along with copies of all project-related correspondence and similar items. Seattle shall have the same rights to use these materials as if termination had not occurred.

  • Default Remedies Termination A. [Sec. 400]

  • Withdrawals upon Termination 31.4.1 Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order:

  • Events Upon Termination (a) If this Agreement is terminated, cancelled or ends for any reason, the Operator shall:

  • Recovery upon Termination H6.1 On the termination of the Contract for any reason, the Contractor shall at its cost:

  • Remedies Upon an Event of Default If an Event of Default shall have occurred and shall be continuing, the Holder of this Note may at any time at its option, declare the entire unpaid principal balance of this Note, together with all interest accrued hereon, due and payable, and thereupon, the same shall be accelerated and so due and payable; provided, however, that upon the occurrence of an Event of Default described in Section 3.1(f), without presentment, demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably waived by the Borrower, the outstanding principal balance and accrued interest hereunder shall be automatically due and payable. In addition, if an Event of Default shall have occurred and be continuing, the Holder may exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies and interests under this Note or applicable law and institute such actions or proceedings in law or equity as it shall deem expedient for the protection of its rights and may prosecute and enforce its claims against all assets and property of the Borrower, and in connection with any such action or proceeding shall be entitled to receive from the Borrower, payment of the principal amount of this Note plus accrued interest to the date of payment plus reasonable expenses of collection, including, without limitation, attorneys' and experts' fees and expenses. No course of delay on the part of the Holder shall operate as a waiver thereof or otherwise prejudice the right of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.

  • Term, Termination and Survival This Agreement shall become effective when signed below and shall continue in effect until terminated. Either Party may terminate this Agreement at-will with thirty (30) day’s written notice to the other Party. Termination shall not relieve the Parties from any debt or liability incurred hereunder while the Agreement was active; and all terms and conditions of this Agreement intended to protect the Parties and their records and regulate disputes, grievances or complaints between them shall survive any termination.

  • Survival on Termination The following Paragraphs and Articles shall survive the termination of this Agreement:

  • H DEFAULT, DISRUPTION AND TERMINATION H1 Termination on insolvency and change of control H1.1 The Client may terminate the Contract with immediate effect by notice in writing where the Contractor is a company and in respect of the Contractor:

  • Procedure Upon Termination In the event of termination by Buyer or Seller, as applicable, pursuant to Section 6.1 hereof, written notice thereof shall forthwith be given to the other party and the transactions contemplated by this Agreement shall be terminated without further action by Buyer or Seller. If the transactions contemplated by this Agreement are so terminated:

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