Common use of Calculation of Damages Clause in Contracts

Calculation of Damages. Notwithstanding the foregoing, (a) in the event of termination by REC Supplier for Buyer’s default, in addition to amounts owed for RECs Delivered prior to such termination, REC Supplier shall be entitled, as liquidated damages (and not as a penalty), and, provided that such amount is paid by Buyer within 30 calendar days of REC Supplier’s notice of such termination, as its exclusive remedy for Buyer’s default hereunder, to receive cover from Buyer equal to (i) the positive difference, if any, in price (i.e., REC Price less Sales Price) multiplied by the quantity of RECs not Delivered due to the termination of the Agreement for the remaining Term of this Agreement, and (ii) actual, reasonable and verifiable third party fees, including broker fees and legal fees and expenses incurred by REC Supplier in the enforcement and protection of its rights under this Agreement; (b) in the event of termination by Buyer for REC Supplier’s default, Buyer shall be entitled, as liquidated damages (and not as a penalty), and, provided that such amount is paid by REC Supplier within 30 calendar days of Buyer’s notice of such termination, as its exclusive remedy for REC Supplier’s default hereunder, (i) to receive cover from REC Supplier equal to the sum of the Replacement Price multiplied by the quantity of RECs not Delivered due to the termination of the Agreement for the remaining Term of this Agreement and for which no renewable energy compliance payments were required; (ii) actual, reasonable and verifiable third party fees, including broker fees and legal fees and expenses incurred by Buyer in the enforcement and protection of its rights under this Agreement; and (iii) any renewable energy compliance payments paid by Buyer as a result of REC Supplier’s failure to Deliver RECs as required under this Agreement.

Calculation of Damages. Notwithstanding the foregoing, (a) in the event of termination by REC SPAEC Supplier for BuyerCompany’s default, in addition to amounts owed for RECs Delivered Product delivered prior to such termination, REC SPAEC Supplier shall be entitled, as liquidated damages (and not as a penalty), and, provided that such amount is paid by Buyer Company within 30 calendar days of REC SPAEC Supplier’s notice of such termination, as its exclusive remedy for BuyerCompany’s default hereunder, to receive cover from Buyer Company equal to (i) the positive difference, if any, in price (i.e., REC SPAEC Price less Sales Price) multiplied by the quantity of RECs Product not Delivered delivered due to the termination of the Agreement for the remaining Term of this Agreement, and (ii) actual, reasonable and verifiable third party fees, including broker fees and legal fees and expenses incurred by REC SPAEC Supplier in the enforcement and protection of its rights under this Agreement; (b) in the event of termination by Buyer Company for REC SPAEC Supplier’s default, Buyer Company shall be entitled, as liquidated damages (and not as a penalty), and, provided that such amount is paid by REC Supplier Seller within 30 calendar days of BuyerCompany’s notice of such termination, as its exclusive remedy for REC SPAEC Supplier’s default hereunder, (i) to receive cover from REC SPAEC Supplier equal to the sum of (i) the positive difference, if any, in price (i.e., Replacement Price less SPAEC Price) multiplied by the quantity of RECs Product not Delivered delivered due to the termination of the Agreement for the remaining Term of this Agreement and for which no renewable energy alternative compliance payments were required; (ii) actual, reasonable and verifiable third party fees, including broker fees and legal fees and expenses incurred by Buyer Company in the enforcement and protection of its rights under this Agreement; and (iii) any renewable energy alternative compliance payments paid by Buyer Company as a result of REC SupplierSPAEC’s failure to Deliver RECs deliver Product as required under this Agreement.