Common use of Payments Upon Early Termination Clause in Contracts

Payments Upon Early Termination. (a) If notice of termination is given pursuant to Section 10, the Seller shall pay the Buyer its Damages. (b) The Buyer’s Damages in the event of early termination shall be the Market Quotation, if it can be determined. If it cannot be determined, the Buyer’s Damages shall be an amount in Dollars equal to the sum of the losses (including loss of bargain) that it may incur as a result of the early termination or as a result of the event that served as the ground for early termination. (c) Payments to be made in accordance with this Section shall be made on the Early Termination Date. If the Buyer is entitled to be paid any amount in respect of its Damages in accordance with this Section, it shall submit to the Seller a statement in reasonable detail of those Damages.

Payments Upon Early Termination. (a) If notice of termination is given pursuant to Section 10, the Seller shall pay the Buyer its Damages. (b) The Buyer’s Damages in the event of early termination shall be the Market Quotation, if it can be determined. If it cannot be determined, the Buyer’s Damages shall be an amount in Dollars equal to the sum of the losses (including loss of bargain) determined by the Buyer that it may incur as a result of the early termination or as a result of the event that served as the ground for early termination. (c) Payments to be made in accordance with this Section shall be made on the Early Termination Date. If the Buyer is entitled to be paid any amount in respect of its Damages in accordance with this Section, it shall submit to the Seller a statement in reasonable detail of those Damages.