Cover Damages Sample Clauses
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Cover Damages. The sole and exclusive remedy of a Party in the event of a breach of a Firm obligation by either Party to deliver or accept Gas on any Day(s), will be the payment by the breaching Party to the other Party of an amount equal to (i) the difference between the contract quantity for the subject Transaction and the actual quantity of Gas required to be delivered or taken by such breaching Party, multiplied by (ii) in the case where the breaching Party was (a) the Seller, the positive difference if any, between the price paid by the Buyer to purchase cover Gas in the marketplace, as adjusted for any transportation costs, and the contract price for the subject Transaction, or (b) the Buyer, the positive difference, if any, between the contract price for the subject Transaction and the price received by the Seller for selling the Gas in the marketplace, as adjusted for any transportation costs. In the event the Buyer in the case of (i), and the Seller in the case of (ii), are unable after using commercially reasonable efforts to replace the Gas or sell the Gas (either in whole or in part) as the case may be, then the non-breaching Party may use the spot price listed in the publication indicated on the subject Transaction or the listing applicable to the geographic location closest in proximity to the Delivery Point, as adjusted for any transportation costs, to determine the amount, if any, that should be paid to such non-breaching Party under the foregoing formulas.
Cover Damages. With respect to any Delivery Default (as defined in the Supply Agreement), Marketing shall, upon consulting with the Banks, obtain Cover Supplies (as defined in the Supply Agreement).
Cover Damages. Buyer shall be liable to Seller for cover damages in the event that Buyer fails to take Conforming SNG delivered by or on behalf of Seller in accordance with Section 2.1 (
Cover Damages. (a) Without limiting each Party’s obligations to the other Party under Section
Cover Damages. Except as otherwise excused herein, in addition to any Availability Adjustment Payment under Special Condition (4), Article IV of the Master Agreement shall apply to the failure of Seller to deliver or Buyer to receive Energy scheduled by Buyer accordance with this Agreement except that Seller shall not be liable for damages under Article IV of the Master Agreement to the extent that Seller has notified Buyer that the Capacity of or Energy available for dispatch from the Facility has been reduced due to a Forced Outage, an Excused Outage or a Planned Outage (provided notice shall not be required with respect to Excused Outages described in clauses (iii), (iv) or (v) of paragraph (B) in the description of Product). For purposes of Article IV of the Master Agreement, the “Contract Price” shall be equal to (A) the product of (i) 10,500 Btu/kWh times (ii) the sum of (1) Gas Index plus (2) the local distribution charges, including any surcharges, for gas deliveries on PG&E’s system, plus (B) the applicable VOM.