Remarketing Event. For each Reset Period, [Issuer]shall provide to Gas Purchaser, at least ten (10) days prior to the applicable Remarketing Election Deadline (without regard to any extension thereof as provided for in paragraph (b) of this Section 5.3), written notice setting forth the duration of such Reset Period and the estimated Available Discount for such Reset Period. In the event the estimated Available Discount for a Reset Period is not at least equal to the Minimum Discount (a “Remarketing Event”), such notice shall also state (i) that a Remarketing Event has occurred, (ii) the applicable Remarketing Election Deadline, and (iii) that Gas Purchaser, and each other gas purchaser in the Prepaid Project, may (A) continue to purchase and receive its Daily Contract Quantity for each Gas Day of each Delivery Month during such Reset Period at a Contract Price that reflects the Available Discount (as finally determined as hereinafter described), or (B) elect that such Daily Contract Quantity be remarketed for the Remaining Term (a “Remarketing Election”) by providing a Remarking Election Notice prior to the Remarketing Election Deadline.
Remarketing Event. For each Reset Period, TEAC shall provide to Purchaser, at least ten (10) days prior to the applicable Remarketing Election Deadline (without regard to any extension thereof as provided for in Section 5.3(b)), formal written notice setting forth the duration of such Reset Period and the estimated Available Discount for such Reset Period. In the event the estimated Available Discount for a Reset Period is not at least equal to the Minimum Discount for that Reset Period (a “Remarketing Event”), such notice shall also state (i) that a Remarketing Event has occurred, (ii) the applicable Remarketing Election Deadline, and (iii) that Purchaser, and each other Project Participant, may (A) continue to purchase and receive its Daily Contract Quantity for each Gas Day of each Month during such Reset Period at a Contract Price that reflects the Monthly Discount portion of the Available Discount (as finally determined as hereinafter described), plus Annual Refunds, if any, as described in Section 4.5, or (B) elect that such Daily Contract Quantity be remarketed for such Reset Period (a “Remarketing Election”) by providing a Remarketing Election Notice prior to the Remarketing Election Deadline. The Parties acknowledge that the determination of the Available Discount for a Reset Period under the Re-Pricing Agreement will be through an iterative, on-going process and that TEAC may provide preliminary communications concerning the estimated Available Discount for a Reset Period. The Parties acknowledge further that if such preliminary communications indicate that then-current market conditions do not support a discount at least equal to the Minimum Discount, such preliminary communications shall not give rise to a right for Purchaser to provide a Remarketing Election Notice.
Remarketing Event. For each Reset Period, MMGA shall provide to Gas Purchaser, at least ten (10) days prior to the applicable Remarketing Election Deadline (without regard to any extension thereof as provided for in paragraph (b) of this Section 5.3), written notice setting forth the duration of such Reset Period and the estimated Available Discount for such Reset Period. In the event the estimated Available Discount for a Reset Period is not at least equal to the Minimum Discount (a “Remarketing Event”), such notice shall also state (i) that a Remarketing Event has occurred, (ii) the applicable Remarketing Election Deadline, and (iii) that Gas Purchaser, and each other Project Participant in the Prepaid Project, may (A) continue to purchase and receive all or a portion of its Daily Contract Quantity for each Gas Day of each Delivery Month during such Reset Period at a Contract Price that reflects the Available Discount (as finally determined as hereinafter described), or (B) elect that all or, in the event one or more, but not all, of Gas Purchaser’s downstream customers request Gas Purchaser to issue a Remarketing Election Notice with respect to all of their volumes in the Prepaid Project, a portion of such Daily Contract Quantity be remarketed for the Remaining Term (a “Remarketing Election”) by providing a Remarking Election Notice prior to the Remarketing Election Deadline. The Parties explicitly recognize and agree that Gas Purchaser may elect a partial reduction in its Daily Contract Quantity to reflect the fact that one or more, but not all, of Gas Purchaser’s downstream customers may elect to have all of their daily contract quantities remarketed for the remaining term of their Gas Sales Contracts with Gas Purchaser.
