Storage Capacity. During the Delivery Term, Seller shall maintain the Storage Facility with a Storage Contract Capacity of not less than the [•] MWAC (the “Guaranteed Storage Contract Capacity”). If the Storage Contract Capacity for the Storage Facility is determined during a Storage Contract Capacity Test to be less than the Guaranteed Storage Contract Capacity, Seller shall pay to Buyer as liquidated damages for such deficiency an amount determined by multiplying the number of months since the last Storage Capacity Test (including the month in which the most current Storage Capacity Test was completed) by (i) Contract Price multiplied by [125%] multiplied by (ii) the difference between the Guaranteed Storage Contract Capacity and the Storage Contract Capacity for the Storage Facility as determined during the most recent Storage Contract Capacity Test (“Guaranteed Storage Contract Capacity LDs”). Payment of Guaranteed Storage Contract Capacity LDs is Seller’s sole and exclusive liability, and Buyer’s sole and exclusive remedy, in connection with the Storage Contract Capacity being less than the Guaranteed Storage Contract Capacity for a Contract Year.
Appears in 5 contracts
Samples: Storage Capacity Agreement, Storage Capacity Agreement, Storage Capacity Agreement
Storage Capacity. During the Delivery Term, Seller shall maintain the Storage Facility with a Storage Contract Capacity of not less than the [•] MWAC (the “Guaranteed Storage Contract Capacity”). If the Storage Contract Capacity for the Storage Facility is determined during a Storage Contract Capacity Test to be less than the Guaranteed Storage Contract Capacity, Seller shall pay to Buyer as liquidated damages for such deficiency an amount determined by multiplying the number of months since the last Storage Capacity Test (including the month in which the most current Storage Capacity Test was completed) by (i) Contract Price multiplied by [125%] multiplied by (ii) the difference between the Guaranteed Storage Contract Capacity and the Storage Contract Capacity for the Storage Facility as determined during the most recent Storage Contract Capacity Test (“Guaranteed Storage Contract Capacity LDs”). Payment of Guaranteed Storage Contract Capacity LDs is Seller’s sole and exclusive liability, and Buyer’s sole and exclusive remedy, in connection with the Storage Contract Capacity being less than the Guaranteed Storage Contract Capacity for a Contract Year.Year.
Appears in 2 contracts
Samples: Storage Capacity Agreement, Storage Capacity Agreement
