Common use of Remedies for Failure to Deliver and Accept Clause in Contracts

Remedies for Failure to Deliver and Accept. 1 Failure to Deliver: To the extent that the Party obliged to Deliver Certificates ("Delivering Party") fails to Deliver the Contract Quantity in whole or in part in accordance with the terms of an Individual Contract, and such failure is not remedied within three (3) Business Days after receipt by the Delivering Party of a written notice from the other Party ("Accepting Party") to remedy such failure or is not excused by an event of Force Majeure or the Accepting Party's non-performance, the Delivering Party shall pay the Accepting Party as compensation for damages an amount for such quantity of undelivered Certificates equal to the product of: (a) the amount, if positive, by which the price (if any) at which the Accepting Party acting in a commercially reasonable manner is or would be able to purchase or otherwise acquire in the market the quantity of undelivered Certificates exceeds the Contract Price; and (b) the quantity of undelivered Certificates. Such amount shall not be increased by any costs and expenses incurred by the Accepting Party as a result of the Delivering Party's failure.

Remedies for Failure to Deliver and Accept. 1 Failure to Deliver: To the extent that the Party obliged to Deliver Certificates ("Delivering Party") fails to Deliver the Contract Quantity in whole or in part in accordance with the terms of an Individual Contractthis Agreement, and such failure is not remedied within three (3) Business Days after receipt by the Delivering Party of a written notice from the other Party ("Accepting Party") to remedy such failure or is not excused by an event of Force Majeure or the Accepting Party's non-performance, the Delivering Party shall pay the Accepting Party as compensation for damages an amount for such quantity of undelivered Certificates equal to the product of: (a) the amount, if positive, by which the price (if any) at which the Accepting Party acting in a commercially reasonable manner is or would be able to purchase or otherwise acquire in the market the quantity of undelivered Certificates exceeds the Contract Price; and (b) the quantity of undelivered Certificates. Such amount shall not be increased by any costs and expenses incurred by the Accepting Party as a result of the Delivering Party's failure.