Common use of Remedy for Shortfall Gas Clause in Contracts

Remedy for Shortfall Gas. In case of occurrence of any Shortfall Gas SELLER shall compensate BUYER an amount of money, if positive, being the sum of: - documentarily proven costs at which BUYER acting as a Reasonable and Prudent Operator actually replaced such Shortfall Gas, such amounts to be calculated by multiplying the quantity of replaced Shortfall Gas by the difference between the price paid by BUYER for the replaced Shortfall Gas and the relevant Contract Price; and - documentarily proven incremental transportation costs and charges, and other reasonable and verifiable costs or expenses actually incurred by BUYER in respect of replacement of such Shortfall Gas. BUYER shall issue the SELLER with an invoice for any amounts owed pursuant to this clause by the 20th day of the month following the month when the Shortfall Gas occurred. For the avoidance of doubt, BUYER shall not have an obligation to enter into any replacement transactions, and the compensation for Shortfall Gas mentioned above shall be the only legal remedy of BUYER in respect of the Shortfall Gas.

Remedy for Shortfall Gas. In case of occurrence of any Shortfall Gas SELLER shall compensate BUYER an amount of money, if positive, being the sum of: - documentarily proven costs at which BUYER acting as a Reasonable and Prudent Operator actually replaced such Shortfall Gas, such amounts to be calculated by multiplying the quantity of replaced Shortfall Gas by the difference between the price paid by BUYER for the replaced Shortfall Gas and the relevant Contract Price; and - documentarily proven incremental transportation costs and charges, and other reasonable and verifiable costs or expenses actually incurred by BUYER in respect of replacement of such Shortfall Gas. BUYER shall issue the SELLER with an invoice for any amounts owed pursuant to this clause by the 20th day of the month following the month when the Shortfall Gas occurred. For the avoidance of doubt, BUYER shall not have an obligation to enter into any replacement transactions, and the compensation for Shortfall Gas mentioned above shall be the only legal remedy of BUYER in respect of the Shortfall Gas.