Common use of District’s Remedies Clause in Contracts

District’s Remedies. The District may, upon default of the Purchaser, immediately suspend deliveries of Output to Purchaser and sell such Output to third parties and permanently retain funds received from such sales for the suspension period until the default is cured, or becomes an Event of Default. If the price received for the Output is less than the Contract Price as defined in Appendix A to the Collateral Annex, the Purchaser shall pay the District the difference. If an Event of Default by the Purchaser occurs, the District may elect to: (i) terminate some or all transactions between the Parties, including this Contract, other Slice Contracts and WSPP Transactions and calculate a Slice Termination Payment as set forth in Section 16 below and any termination payment and other payments due upon termination as described in this Contract and other terminated agreements or transactions; or (ii) seek specific performance or maintain successive proceedings for payment of amounts due. If the District chooses to terminate this Contract, the District may terminate all transactions between the Parties and payments due and owing or accrued shall be netted and set off. If the District terminates this Contract and (a) uses the Quotation Methodology in Section 16(b) to calculate the Slice Termination Payment, the District shall calculate and include in the net termination payment any gain or loss incurred for the period between the Event of Default and the first delivery date stated in the Replacement Slice Contract; or (b) uses the Alternative Determination Methodology in Section 16(c) to calculate the Slice Termination Payment, the District shall calculate and include any gain or loss incurred for the period between the Event of Default and the calculation date in the net termination payment. In either event (as described in (a) and (b) above), the gains or losses, will be calculated by comparing the Annual Contract Price to the Day Ahead Mid-C Peak Index Price and Day Ahead Mid-C Off-Peak Index Price for the respective hours. If the Day Ahead Mid-C Peak Index Price and Day Ahead Mid-C Off-Peak Index Price is no longer published or primarily utilized by the industry, the District will select another industry recognized index and notify Purchaser of the index to be used for this calculation. Payment of these amounts by Purchaser shall be subject to the provisions of Sections 5(c) and (g) and 16(h).

District’s Remedies. The District may, upon default of the Purchaser, immediately suspend deliveries of Output to Purchaser and sell such Output to third parties and permanently retain funds received from such sales for the suspension period until the default is cured, or becomes an Event of Default. If the price received for the Output is less than the Contract Price as defined in Appendix A to the Collateral Annex, the Purchaser shall pay the District the difference. If an Event of Default by the Purchaser occurs, the District may elect to: (i) terminate some or all transactions between the Parties, including this Contract, other Slice Contracts Contracts, and WSPP Transactions and calculate a Slice Termination Payment as set forth in Section 16 below and any termination payment and other payments due upon termination as described in this Contract and other terminated agreements or transactions; or (ii) seek specific performance or maintain successive proceedings for payment of amounts due. If the District chooses to terminate this Contract, the District may must terminate all transactions between the Parties and payments due and owing or accrued shall be netted and set off. If the District terminates this Contract and (a) uses the Quotation Methodology in Section 16(b) to calculate the Slice Termination Payment, the District shall calculate and include in the net termination payment any gain or loss incurred for the period between the Event of Default and the first delivery date stated in the Replacement Slice Contract; or (b) uses the Alternative Determination Methodology in Section 16(c) to calculate the Slice Termination Payment, the District shall calculate and include any gain or loss incurred for the period between the Event of Default and the calculation date in the net termination payment. In either event (as described in (a) and (b) above), the gains or losses, will be calculated by comparing the Annual Delivery Period Contract Price Price, as defined in the Collateral Annex, to the Intercontinental Exchange (ICE) Day Ahead Mid-C Peak Index Price and Day Ahead Mid-C Off-Peak Index Price price for the respective hours. If the ICE Day Ahead Mid-C Peak Index Price and Day Ahead Mid-C Off-Peak Index Price is no longer published or primarily utilized by the industry, the District will select another industry recognized index and notify Purchaser of the index to be used for this calculation. Payment of these amounts by Purchaser shall be subject to the provisions of Sections subsections 5(c) and (g) and 16(h).

District’s Remedies. The District may, upon default of the Purchaser, immediately suspend deliveries of Output to Purchaser and sell such Output to third parties and permanently retain funds received from such sales for the suspension period until the default is cured, or becomes an Event of Default. If the price received for the Output is less than the Contract Price as defined in Appendix A to the Collateral Annex, the Purchaser shall pay the District the difference. If an Event of Default by the Purchaser occurs, the District may elect to: (i) terminate some or all transactions between the Parties, including this Contract, other Slice Contracts and WSPP Transactions and and, if it elects to terminate this Agreement, calculate a Slice Termination Payment as set forth in Section 16 below and any termination payment and other payments due upon termination as described in this Contract and other terminated agreements or transactions; or (ii) seek specific performance or maintain successive proceedings for payment of amounts due. If the District chooses to terminate this Contract, the District may terminate all transactions between the Parties and payments due and owing or accrued shall be netted and set off. If the District terminates this Contract and (a) uses the Quotation Methodology in Section 16(b) to calculate the Slice Termination Payment, the District shall calculate and include in the net termination payment any gain or loss incurred for the period between the Event of Default and the first delivery date stated in the Replacement Slice Contract; or (b) uses the Alternative Determination Methodology in Section 16(c) to calculate the Slice Termination Payment, the District shall calculate and include any gain or loss incurred for the period between the Event of Default and the calculation date in the net termination payment. In either event (as described in (a) and (b) above), the gains or losses, will be calculated by comparing the Annual Contract Price to the Day Ahead Mid-C Peak Index Price and Day Ahead Mid-C Off-Peak Index Price for the respective hours. If the Day Ahead Mid-C Peak Index Price and Day Ahead Mid-C Off-Peak Index Price is no longer published or primarily utilized by the industry, the District will select another industry recognized index and notify Purchaser of the index to be used for this calculation. Payment of these amounts by Purchaser shall be subject to the provisions of Sections 5(c) and (g) and 16(h).