Storage Efficiency. (a) During each Contract Year of the Delivery Term, Seller shall maintain a Storage Efficiency of not less than the applicable guaranteed storage efficiency set forth on Schedule 6.4 (the “Guaranteed Storage Efficiency”). In the event that at the end of any such Contract Year the Storage Efficiency is less than the applicable Guaranteed Storage Efficiency, Seller shall pay to Buyer the Storage Efficiency Liquidated Damages, as calculated pursuant to Schedule 6.4. Such Storage Efficiency Liquidated Damages shall be Buyer’s sole and exclusive remedy for any failure of the Storage Facility to meet the Guaranteed Storage Efficiency. The Parties agree that the damages Buyer would incur due to Seller’s failure to meet the Guaranteed Storage Efficiency would be difficult or impossible to predict with certainty and the Storage Efficiency Liquidated Damages amount is a reasonable approximation of such damages.
Appears in 17 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
