Cover Damages means, with respect to any Delivery Failure, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 hereof, multiplied by the quantity of that Delivery Failure, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.
Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.
Examples of Cover Damages in a sentence
Each Party agrees and acknowledges that (i) the damages that Buyer would incur due to a Delivery Failure would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore the Cover Damages as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.
Each Party agrees and acknowledges that (i) the damages that Buyer would incur due to a Delivery Shortfall would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore the Cover Damages as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.
In the event that Seller fails to satisfy any of its obligations to Deliver any of the Products hereunder in accordance with Section 4.1 and Section 4.2, and such failure is not excused under the express terms of this Agreement (a “Delivery Shortfall”), Seller shall pay Buyer an amount for such Delivery Shortfall equal to the Cover Damages.
In the event that Seller fails to satisfy any of its obligations to Deliver any of the Products hereunder in accordance with Section 4.1 and Section 4.2, and such failure is not excused under the express terms of this Agreement (a “Delivery Failure”), Seller shall pay Buyer an amount for such Delivery Failure equal to the Cover Damages.
In the event that Seller fails to satisfy any of its obligations to Deliver any of the Products or any portion of the Products hereunder in accordance with Section 4.1, Section 4.2 and Section 4.7, and such failure is not excused under the express terms of this Agreement (a “Delivery Failure”), Seller shall pay Buyer an amount for such Delivery Failure (measured in MWh and/or RECs) equal to the Cover Damages.
More Definitions of Cover Damages
Cover Damages means, with respect to any Delivery Failure, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid for the Products pursuant to Section 5.1 hereof, multiplied by the quantity of that Delivery Failure, plus (b) any other costs incurred by Buyer in purchasing Replacement Energy and/or Replacement RECs due to that Delivery Failure, plus (c) any applicable penalties and other costs assessed by ISO- NE or any other Person against Buyer as a result of that Delivery Failure, plus (d) any other costs and losses incurred by Buyer as a result of that Delivery Failure.
Cover Damages means, with respect to any Uncured Delivery Shortfall, an amount equal to the positive net amount, if any, of (a) the sum, without duplication, of (i) the Replacement Price applicable to that Uncured Delivery Shortfall multiplied by the amount of the Uncured Delivery Shortfall (in MWh) plus (ii) any additional transmission costs and charges reasonably incurred by Buyer to transmit Replacement Energy with respect to that Uncured Delivery Shortfall to the Delivery Point, but solely to the extent that such costs and charges exceed the amount that Buyer incurred under the TSA with respect to such Uncured Delivery Shortfall, plus (iii) any other costs reasonably incurred by Buyer to purchase Replacement Energy and/or Replacement Environmental Attributes with respect to that Uncured Delivery Shortfall, plus (iv) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of that Uncured Delivery Shortfall, plus (v) any other costs and losses reasonably incurred by Buyer as a result of that Uncured Delivery Shortfall, minus (b) the applicable Price that would have been paid pursuant to Section 5.1 hereof for the quantity of Products not Delivered as a result of that Uncured Delivery Shortfall multiplied by the amount of the Uncured Delivery Shortfall (in MWh), plus (c) any costs or charges incurred by Buyer under the TSA associated with the aggregate quantity of Energy (expressed in MWh) not Delivered as a result of that Uncured Delivery Shortfall; provided, however, that, for the avoidance of doubt, if and when the TSA is terminated, then, with respect to any Uncured Delivery Shortfalls that occur after such termination, the Cover Damages shall exclude any costs or charges in respect of the TSA. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.
Cover Damages means an amount equal to (i) the amount, if any, by which (A) the Replacement Price ($/MWh) multiplied by the quantity (in MWh) of the Delivery Shortfall, exceeds (B) the Energy Payment that would have been paid pursuant to Section 4.1 hereof had the Delivery Shortfall been delivered, plus (ii) any applicable penalties assessed by NEPOOL, ISO-NE or any other party against BECO as a direct result of NEA’s failure to deliver such Contract Energy; provided, however, BECO shall use commercially reasonable efforts to purchase replacement power or otherwise mitigate such damages, penalties and related costs and charges wherever possible pursuant to applicable NEPOOL, ISO-NE or any other party’s tariffs and operating procedures then in effect. Except as otherwise provided in Section 8.1(g) and 8.2 hereof, the damages provided in this Section 3.6 shall be the sole and exclusive remedy of BECO for any failure of NEA to deliver Contract Energy that it is obligated to deliver hereunder. The invoice for the amount payable pursuant to this Section 3.6 shall include a written statement explaining in reasonable detail the calculation of such amount.
Cover Damages means, with respect to any Delivery Failure, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid for the Products pursuant to Section 5.1 hereof, multiplied by the quantity of that Delivery Failure, plus (b) any applicable penalties and other costs assessed by ISO-NE against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement, to the extent not already accounted for in the calculation of the Replacement Price. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.
Cover Damages shall be equal to: (i) the FOB Price, multiplied by the Diverted Cargo Shortfall Quantity; minus (ii) the proceeds of any Diverted Cargo Mitigation Sale, if any; minus (iii) reasonable and verifiable savings obtained by Project Co (including savings related to avoided fuel Gas for LNG production, transportation and Third Party costs avoided) as a result of the Diverted Cargo Mitigation Sale as opposed to the sale to the Transporter; plus (iv) any actual, reasonable, verifiable, incremental costs incurred by Project Co as a result of such Diverted Cargo Mitigation Sale (including costs related to transporting, marketing, selling, and delivery of the Diverted Cargo Shortfall Quantity). For purposes of calculating Cover Damages, the FOB Price shall be determined as of the Month in which the applicable FOB Delivery Window begins.
Cover Damages has the meaning set forth in Section 6.3.
Cover Damages means, with respect to any Delivery Failure, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid for the Products pursuant to Section 5.1 hereof, multiplied by the quantity of that Delivery Failure, plus (b) additional transmission charges, if any, incurred by Buyer to transmit Replacement Energy to the Delivery Point, plus (c) any costs or charges incurred by Buyer with respect to any Related Transmission Facilities associated with the quantity of Energy not Delivered as a result of that Delivery Failure, plus (d) any other costs incurred by Buyer in purchasing Replacement Energy and/or Replacement Environmental Attributes due to that Delivery Failure, plus (e) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of that Delivery Failure, plus (f) any other costs and losses incurred by Buyer as a result of that Delivery Failure. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.