Common use of Loss Event Affecting Storage Contract Capacity Clause in Contracts

Loss Event Affecting Storage Contract Capacity. (i) If Seller is unable to restore any Storage Contract Capacity affected by a Loss Event, then Seller shall (A) continue to deliver the Products to Buyer to the extent possible from as much of the unaffected Storage Contract Capacity as is possible, and (ii) for any portion of the Project impacted by the Loss Event and from which Seller cannot deliver Products to Buyer, for the applicable Products that are not expected to be delivered as a result of the Loss Event from date of the Loss Event through the end of the Delivery Term, Seller will buy-down the portion of Seller’s obligation to provide Products that Buyer cannot supply from the Project at a price equal to the positive amount, if any, equal to (x) the present value of the payments Buyer would be required to make under a replacement agreement to obtain such undelivered Products, at a price determined based on then prevailing market prices for such Products, minus (y) the present value of the payments Buyer would be required to make under this Agreement for such undelivered Products, as determined by Buyer in a commercially reasonable manner (the “Loss Event Buy-Down Amount”); (ii) Seller will have ninety (90) days following any Loss Event to elect to either restore the portion of Storage Contract Capacity affected by the Loss Event or determine that it is unable or unwilling to do so. If during such ninety (90) day period, Seller elects to restore the portion of Storage Contract Capacity affected by the Loss Event, then Seller will be afforded a period of 180 days following the occurrence of the Loss Event in which to complete such restoration before the Section 7.6-5(b)(i) buy-down is required. If prior to the end of such 180 day period, Seller delivers to Buyer a certificate of an independent engineer reasonably acceptable to Buyer certifying that any remaining restoration of the Project can be completed within an additional one eighty (180) days, then the period for restoration shall be three sixty (360) days before the Section 7.6-5(b)(i) buy-down will be required; and (iii) Upon payment of any Loss Event Buy-Down Amount, or if the calculation of the Loss Event Buy-Down Amount does not result in amount owing from Seller, Seller’s obligation to deliver applicable Products under this Agreement shall be reduced to the extent bought down by the Loss-Event Buy Down Amount and will enter into an amendment to this revising the Product quantities deliverable under this Agreement pursuant to this Section.

Loss Event Affecting Storage Contract Capacity. (i) If Seller is unable to restore any Storage Contract Capacity affected by a Loss Event, then Seller shall (A) continue to deliver the Products to Buyer to the extent possible from as much of the unaffected Storage Contract Capacity as is possible, and (ii) for any portion of the Project impacted by the Loss Event and from which Seller cannot deliver Products to Buyer, for the applicable Products that are not expected to be delivered as a result of the Loss Event from date of the Loss Event through the end of the Delivery Term, Seller will buy-down the portion of Seller’s obligation to provide Products that Buyer cannot supply from the Project at a price equal to the positive amount, if any, equal to (x) the present value of the payments Buyer would be required to make under a replacement agreement to obtain such undelivered Products, at a price determined based on then prevailing market prices for such Products, minus (y) the present value of the payments Buyer would be required to make under this Agreement for such undelivered Products, as determined by Buyer in a commercially reasonable manner (the “Loss Event Buy-Down Amount”);Amount”);‌ (ii) Seller will have ninety (90) days following any Loss Event to elect to either restore the portion of Storage Contract Capacity affected by the Loss Event or determine that it is unable or unwilling to do so. If during such ninety (90) day period, Seller elects to restore the portion of Storage Contract Capacity affected by the Loss Event, then Seller will be afforded a period of 180 days following the occurrence of the Loss Event in which to complete such restoration before the Section 7.6-5(b)(i) buy-down is required. If prior to the end of such 180 day period, Seller delivers to Buyer a certificate of an independent engineer reasonably acceptable to Buyer certifying that any remaining restoration of the Project can be completed within an additional one eighty (180) days, then the period for restoration shall be three sixty (360) days before the Section 7.6-5(b)(i) buy-down will be required; andof (iii) Upon payment of any Loss Event Buy-Down Amount, or if the calculation of the Loss Event Buy-Down Amount does not result in amount owing from Seller, Seller’s obligation to deliver applicable Products under this Agreement shall be reduced to the extent bought down by the Loss-Event Buy Down Amount and will enter into an amendment to this revising the Product quantities deliverable under this Agreement pursuant to this Section.