Calculation of Termination Payment. The non-defaulting Party shall calculate, in a commercially reasonable manner, the Losses (or Gains) and Costs, incurred as a result of the termination of the Agreement. The non-defaulting Party shall set off (i) all such Gains, plus all other amounts due to the defaulting Party under the Agreement against (ii) all such Losses and Costs, plus all other amounts due from the defaulting Party under the Agreement, so that all such amounts shall be netted to a single liquidated amount (the “Termination Payment”) payable by one Party to the other. The Termination Payment shall be due to or due from the non-defaulting Party as appropriate. Nothing in this Agreement shall be construed as obligating the non-defaulting Party, in the event of a Termination, to enter into any brokerage agreements or other third party agreements to replace a Terminated Transaction.
Appears in 4 contracts
Samples: Capacity and Associated Energy Purchase and Sale Agreement, Capacity and Associated Energy Purchase and Sale Agreement, Capacity and Associated Energy Purchase and Sale Agreement
Calculation of Termination Payment. The non-defaulting Party shall calculate, in a commercially reasonable manner, the Losses (or Gains) and Costs, incurred as a result of the termination of the Agreement. The non-defaulting Party shall set off (i) all such Gains, plus all other amounts due to the defaulting Party under the Agreement against (ii) all such Losses and Costs, plus all other amounts due from the defaulting Party under the Agreement, so that all such amounts shall be netted to a single liquidated amount (the “Termination Payment”) payable by one Party to the other. The Termination Payment shall be due to or due from the non-defaulting Party as appropriate. Nothing in this Agreement shall be construed as obligating the non-defaulting Party, in the event of a Termination, to enter into any brokerage agreements or other third party agreements to replace a Terminated Transaction.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Demand Resource Capacity Purchase and Sale Agreement
