Common use of Offset Quantity and Close Out Quantity Clause in Contracts

Offset Quantity and Close Out Quantity. (a) The total quantity to be offset for a relevant Gas Day and Capacity Type (Offset Capacity Quantity) is the lesser of TCQS and TCQB, where TCQS is the total of the Transaction Quantities for relevant Capacity Transactions in which the Defaulting Participant is the Seller; and TCQB is the total of the Transaction Quantities for relevant Capacity Transactions in which the Defaulting Participant is the Buyer.