Common use of Failure to Accept Clause in Contracts

Failure to Accept. To the extent that the Accepting Party fails in whole or in part to accept the Contract Quantity in accordance with an Individual Contract, and such failure is not remedied within three (3) Business Days after receipt by the Accepting Party of a written notice from the Delivering Party to remedy such failure or is not excused by an event of Force Majeure or the Delivering Party's non-performance, the Accepting Party shall pay the Delivering Party as compensation for damages an amount for the quantity of non-accepted Certificates equal to the product of: (a) the amount, if positive, by which the Contract Price exceeds the price (if any) at which the Delivering Party is or would be able to sell the quantity of non-accepted Certificates in the market acting in a commercially reasonable manner; and (b) the quantity of the non-accepted Certificates. Such amount shall not be increased by any costs and expenses incurred by the Delivering Party as a result of the Accepting Party's failure.

Failure to Accept. To the extent that the Accepting Party fails in whole or in part to accept the Contract Quantity in accordance with an Individual ContractQuantity, and such failure is not remedied within three (3) Business Days after receipt by the Accepting Party of a written notice from the Delivering Party to remedy such failure or is not excused by an event of Force Majeure or the Delivering Party's non-performance, the Accepting Party shall pay the Delivering Party as compensation for damages an amount for the quantity of non-accepted Certificates equal to the product of: (a) the amount, if positive, by which the Contract Price exceeds the price (if any) at which the Delivering Party is or would be able to sell the quantity of non-accepted Certificates in the market acting in a commercially reasonable manner; and (b) the quantity of the non-accepted Certificates. Such amount shall not be increased by any costs and expenses incurred by the Delivering Party as a result of the Accepting Party's failure.