Common use of Stipulated Damages Clause in Contracts

Stipulated Damages. NYSERDA and Seller hereby agree, acknowledge and stipulate that XXXXXXX’s retention of amounts provided by Seller as Contract Security pursuant to Article XV, in the proportions stated within this Article, is fair and reasonable under the circumstances and in light of the uncertainty and inability to adequately quantify the harm that would result to NYSERDA as a result of the events that permit NYSERDA to retain such amounts of the Contract Security. In addition, and notwithstanding the foregoing, Seller agrees and covenants that in the event that this Agreement is terminated as a result of an Event of Default by Seller, Seller shall not, without NYSERDA’s prior written consent, enter into any agreement for the sale of or otherwise sell or deliver any party other than NYSERDA any Tier 1 RECs, other renewable energy certificates or other environmental attributes of renewable electricity generation produced by any electric generating station located at the Bid Facility site for a period of thirty-six (36) months after the effective date of such termination (a “Terminate and Operate Action”). Seller expressly agrees that, in the event of a Terminate and Operate Action, NYSERDA shall be permitted to retain any Contract Security as Stipulated Damages and pursue specific performance of this Agreement as under this Section 13.03, as though Seller has committed a breach hereof. The obligations of Seller under this Article shall survive any expiration or termination of this Agreement.

Stipulated Damages. NYSERDA and Seller hereby agree, acknowledge and stipulate that XXXXXXX’s retention of amounts provided by Seller as Contract Security pursuant to Article XV, in the proportions stated within this Article, is fair and reasonable under the circumstances and in light of the uncertainty and inability to adequately quantify the harm that would result to NYSERDA as a result of the events that permit NYSERDA to retain such amounts of the Contract Security. In addition, and notwithstanding the foregoing, Seller agrees and covenants that in the event that this Agreement is terminated as a result of an Event of Default by Seller, Seller shall not, without NYSERDA’s prior written consent, enter into any agreement for the sale of or otherwise sell or deliver to any party other than NYSERDA any Tier 1 RECs, other renewable energy certificates or other environmental attributes of renewable electricity generation produced by any electric generating station located at the Bid Facility site for a period of thirty-six (36) months after the effective date of such termination (a “Terminate and Operate Action”). Seller expressly agrees that, in the event of a Terminate and Operate Action, NYSERDA shall be permitted to retain any Contract Security as Stipulated Damages and pursue specific performance of this Agreement as under this Section 13.03, as though Seller has committed a breach hereof. The obligations of Seller under this Article shall survive any expiration or termination of this Agreement.

Stipulated Damages. NYSERDA and Seller hereby agree, acknowledge and stipulate that XXXXXXXNYSERDA’s retention of amounts provided by Seller as Contract Security pursuant to this Article XV, in the proportions stated within this Article, is fair and reasonable under the circumstances and in light of the uncertainty and inability to adequately quantify the harm that would result to NYSERDA as a result of the events that permit NYSERDA to retain such amounts of the Contract Security. In addition, and notwithstanding the foregoing, Seller agrees and covenants that in the event that this Agreement is terminated as a result of an Event of Default by Seller, Seller shall not, without NYSERDA’s prior written consent, enter into any agreement for the sale of or otherwise sell or deliver any party other than NYSERDA any Tier 1 RECsORECs, other renewable energy certificates or other environmental attributes of renewable electricity generation produced by any electric generating station located at the Bid Facility site Selected Project for a period of thirty-six (36) months after the effective date of such termination (a “Terminate and Operate Action”). Seller expressly agrees that, in the event of a Terminate and Operate Action, NYSERDA shall be permitted to retain any Contract Security as Stipulated Damages stipulated damages and pursue specific performance of this Agreement as under this Section 13.0315.08, as though Seller has committed a breach hereof. The obligations of Seller under this Article shall survive any expiration or termination of this Agreement.

Stipulated Damages. NYSERDA and Seller hereby agree, acknowledge and stipulate that XXXXXXX’s retention of amounts provided by Seller as Contract Security pursuant to this Article XV, in the proportions stated within this Article, is fair and reasonable under the circumstances and in light of the uncertainty and inability to adequately quantify the harm that would result to NYSERDA as a result of the events that permit NYSERDA to retain such amounts of the Contract Security. In addition, and notwithstanding the foregoing, Seller agrees and covenants that in the event that this Agreement is terminated as a result of an Event of Default by Seller, Seller shall not, without NYSERDA’s prior written consent, enter into any agreement for the sale of or otherwise sell or deliver any party other than NYSERDA any Tier 1 RECsORECs, other renewable energy certificates or other environmental attributes of renewable electricity generation produced by any electric generating station located at the Bid Facility site Selected Project for a period of thirty-six (36) months after the effective date of such termination (a “Terminate and Operate Action”). Seller expressly agrees that, in the event of a Terminate and Operate Action, NYSERDA shall be permitted to retain any Contract Security as Stipulated Damages stipulated damages and pursue specific performance of this Agreement as under this Section 13.0315.08, as though Seller has committed a breach hereof. The obligations of Seller under this Article shall survive any expiration or termination of this Agreement.

Stipulated Damages. NYSERDA and Seller hereby agree, acknowledge and stipulate that XXXXXXXNYSERDA’s retention of amounts provided by Seller as Contract Security pursuant to this Article XV, in the proportions stated within this Article, is fair and reasonable under the circumstances and in light of the uncertainty and inability to adequately quantify the harm that would result to NYSERDA as a result of the events that permit NYSERDA to retain such amounts of the Contract Security. In addition, and notwithstanding the foregoing, Seller agrees and covenants that in the event that this Agreement is terminated as a result of an Event of Default by Seller, Seller shall not, without NYSERDA’s prior written consent, enter into any agreement for the sale of or otherwise sell or deliver any party other than NYSERDA any Tier 1 RECsORECs, other renewable energy certificates or other environmental attributes of renewable electricity generation produced by any electric generating station located at the Bid Facility site Selected Project for a period of thirty-six (36) months after the effective date of such termination (a “Terminate and Operate Action”). Seller expressly agrees that, in the event of a Terminate and Operate Action, NYSERDA shall be permitted to retain any Contract Security as Stipulated Damages stipulated damages and pursue specific performance of this Agreement as under this Section 13.0315.08, as though Seller has committed a breach hereof. The obligations of Seller under this Article shall survive any expiration or termination of this Agreement.. 59

Stipulated Damages. NYSERDA and Seller hereby agree, acknowledge and stipulate that XXXXXXX’s retention of amounts provided by Seller as Contract Security pursuant to this Article XV, in the proportions stated within this Article, is fair and reasonable under the circumstances and in light of the uncertainty and inability to adequately quantify the harm that would result to NYSERDA as a result of the events that permit NYSERDA to retain such amounts of the Contract Security. In addition, and notwithstanding the foregoing, Seller agrees and covenants that in the event that this Agreement is terminated as a result of an Event of Default by Seller, Seller shall not, without NYSERDA’s prior written consent, enter into any agreement for the sale of or otherwise sell or deliver any party other than NYSERDA any Tier 1 RECsORECs, other renewable energy certificates or other environmental attributes of renewable electricity generation produced by any electric generating station located at the Bid Facility site Selected Project for a period of thirty-six (36) months after the effective date of such termination (a “Terminate and Operate Action”). Seller expressly agrees that, in the event of a Terminate and Operate Action, NYSERDA shall be permitted to retain any Contract Security as Stipulated Damages stipulated damages and pursue specific performance of this Agreement as under this Section 13.0315.08, as though Seller has committed a breach hereof. The obligations of Seller under this Article shall survive any expiration or termination of this Agreement.. 59