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”);

Appears in 3 contracts

Samples: Storage Capacity Agreement, Storage Capacity Agreement, Storage Capacity Agreement

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Loss Event Affecting Storage Contract Capacity. (i) If 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”);

Appears in 2 contracts

Samples: Storage Capacity Agreement, Storage Capacity Agreement

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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”);‌

Appears in 2 contracts

Samples: Storage Capacity Agreement, Storage Capacity Agreement

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