Common use of Transaction Netting Clause in Contracts

Transaction Netting. If the Parties enter into one or more Transactions that, in conjunction with one or more other outstanding Transactions, constitute Offsetting Transactions, then all such Offsetting Transactions may, by mutual agreement of the Parties, be netted into a single Transaction so that: (i) the Party obligated to deliver the greater amount of the Product will deliver the difference between the total amount it is obligated to deliver and the total amount to be delivered to it by the other Party under the Offsetting Transactions, and (ii) the Party owing the greater aggregate payment will pay the net difference owed between the Parties. Each single Transaction resulting under this “Transaction Netting” provision shall be deemed part of the single agreement between the Parties referenced in the “Single Agreement” provision, and once the Parties’ obligations under such resulting single Transaction are satisfied, outstanding obligations under the Offsetting Transactions that are satisfied by such offset shall terminate.

Transaction Netting. If the Parties enter into one or more Transactions that, in conjunction with one or more other outstanding Transactionsthis Agreement, constitute Offsetting Transactions, then all such Offsetting Transactions may, by mutual agreement of the Parties, be netted into a single Transaction so that: (i) the Party obligated to deliver the greater amount of the Product will deliver the difference between the total amount it is obligated to deliver and the total amount to be delivered to it by the other Party under the Offsetting Transactions, ; and (ii) the Party owing the greater aggregate payment will pay the net difference owed between the Parties. Each single Transaction resulting under this “Transaction Netting” provision shall be deemed part of the single agreement between the Parties referenced in the “Single Entire Agreement” provisionprovision in the “Miscellaneous” section, and once the Partiesparties’ obligations under such resulting single Transaction are satisfied, outstanding obligations under the Offsetting Transactions that are satisfied by such offset shall terminate.