Seller and Buyer agree that. (i) it is difficult or impossible to determine with precision the amount of damages that would or might be incurred by Xxxxx as a result of the failure of the Energy Yield Guaranty to be satisfied; (ii) Buyer would be damaged by any failure of Seller to meet such obligation; (iii) it would be impracticable or difficult to fix the actual damages resulting therefrom; (iv) any sums that would be payable under this Error! Reference source not found. are (A) Buyer’s sole and exclusive remedy for such failure and (B) in the nature of liquidated damages, and not a penalty, and are fair and reasonable; (v) the payment of Energy Yield Liquidated Damages represents a reasonable estimate of fair compensation for the damages that may reasonably be anticipated from such failure; and (vi) each of Seller and Buyer hereby irrevocably waives any right to claim to any court or arbitral tribunal or seek the adjustment of any such sums.
Seller and Buyer agree that. All Disputes And Controversies Of Any Nature Whatsoever Between Them With Respect To This Contract, Or Any Other Commodity Contract Between The Parties, Must Be Arbitrated According To The Arbitration Rules Of The NGFA, And That The Decision And Award Determined There Under Will Be Final And Binding On Seller And Buyer.
