Common use of Export of Defaults to Other Commodity Agreements Clause in Contracts

Export of Defaults to Other Commodity Agreements. The occurrence of an Early Termination Date under this Agreement shall constitute a material breach and an event of default, howsoever described, under all Other Commodity Agreements, and the Non- Defaulting Party may, by giving a notice to the Defaulting Party, designate an early termination date for all Other Commodity Agreements and, upon such designation, terminate, liquidate, accelerate, and otherwise Close-out all Other Commodity Agreements that lawfully may be closed out and terminated or, to the extent that in the reasonable opinion of the Performing Party certain of such Other Commodity Agreements may not be liquidated and terminated under Applicable Law or are commercially impracticable to terminate on such early termination date, then in either case, as soon thereafter as is reasonably practicable, in which case the actual termination date for such Other Commodity Agreements will be the early termination date in respect thereof for purposes of close out. In such event, the Non-Defaulting Party shall calculate the payments due upon early termination of such Other Commodity Agreements in accordance with the terms set forth in such Other Commodity Agreements, which shall be aggregated or netted to a single liquidated amount (the “Other Termination Payment”) and paid pursuant to the terms of such Other Commodity Agreements, or if no payment date is specified, on the payment date specified in Section 19.1. If a particular Other Commodity Agreement does not provide a method for determining what is owed upon early termination, then the amount due upon early termination shall be determined in the manner set forth in Section 19.1. In determining the Other Termination Payment, the Non-Defaulting Party may foreclose upon and apply any Performance Assurance, credit support or Collateral provided by or on behalf of the Defaulting Party under any Other Commodity Agreement.

Export of Defaults to Other Commodity Agreements. The occurrence of an Early Termination Date under this Agreement shall constitute a material breach and an event of default, howsoever described, under all Other Commodity Agreements, and the Non- Defaulting Party may, by giving a notice to the Defaulting Party, designate an early termination date for all Other Commodity Agreements and, upon such designation, terminate, liquidate, accelerate, and otherwise Close-out all Other Commodity Agreements that lawfully may be closed out and terminated or, to the extent that in the reasonable opinion of the Performing Party certain of such Other Commodity Agreements may not be liquidated and terminated under Applicable Law or are commercially impracticable to terminate on such early termination date, then in either case, as soon thereafter as is reasonably practicable, in which case the actual termination date for such Other Commodity Agreements will be the early termination date in respect thereof for purposes of close out. In such event, the Non-Defaulting Party shall calculate the payments due upon early termination of such Other Commodity Agreements in accordance with the terms set forth in such Other Commodity Agreements, which shall be aggregated or netted to a single liquidated amount (the “Other Termination Payment”) and paid pursuant to the terms of such Other Commodity Agreements, or if no payment date is specified, on the payment date specified in Section 19.1. If a particular Other Commodity Agreement does not provide a method for determining what is owed upon early termination, then the amount due upon early termination shall be determined in the manner set forth in Section 19.1. In determining the Other Termination Payment, the Non-Non- Defaulting Party may foreclose upon and apply any Performance Assurance, credit support or Collateral provided by or on behalf of the Defaulting Party under any Other Commodity Agreement.