Cover Standard definition

Cover Standard means that if there is an unexcused failure to take or deliver any quantity of Gas pursuant to this Gas Annex, then the performing party shall use commercially reasonable efforts to (i) if Buyer is the performing party, obtain Gas, (or an alternate fuel if elected by Buyer and replacement Gas is not available),or (ii) if Seller is the performing party, sell Gas, in either case, at a price reasonable for the delivery or production area, as applicable, consistent with: the amount of notice provided by the nonperforming party; the immediacy of the Buyer's Gas consumption needs or Seller's Gas sales requirements, as applicable; the quantities involved; and the anticipated length of failure by the nonperforming party.
Cover Standard if applicable, shall mean that if there is an unexcused failure to take or deliver any quantity of Gas pursuant to this Contract, then the non-defaulting party shall use commercially reasonable efforts to obtain Gas or alternate fuels, or sell Gas, at a price reasonable for the delivery or production area, as applicable, consistent with: the amount of notice provided by the defaulting party; the immediacy of the Buyer's Gas consumption needs or Seller's Gas sales requirements, as applicable; the quantities involved; and the anticipated length of failure by the defaulting party.
Cover Standard as referred to in Section 3.2, shall mean that if there is an unexcused failure to take or deliver any quantity of Gas pursuant to this Contract, then the performing party shall use commercially reasonable efforts to (i) if Buyer is the performing party, obtain Gas, (or an alternate fuel if elected by Buyer and replacement Gas is not available), or (ii) if Seller is the performing party, sell Gas, in either case, at a price reasonable for the delivery or production area, as applicable, consistent with: the amount of notice provided by the nonperforming party; the immediacy of the Buyer’s Gas consumption needs or Seller’s Gas sales requirements, as applicable; the quantities involved; and the anticipated length of failure by the nonperforming party.

Examples of Cover Standard in a sentence

  • These devices work in the weakly coupled limit of the plasma–surface interaction.

  • The Contractor shall include in the price bid per linear metre of sewer laid, the excavation, the supply, installation and compaction of Corporation of Mississauga "Sand Cover" Standard Drawing 2112.10 material from the top of the pipe bedding to the roadway sub-grade elevation.

  • This selection is necessary for the Cover Standard as well as the Spot Price Standard, since it provides the measure of damages if the non-breaching party does not make an alternate sale or purchase of the gas that the breaching party failed to deliver or receive.The Cover Standard essentially tracks the U.C.C. damage provisions.11 If seller fails to deliver and buyer purchases replacement fuel, buyer’s damages are the difference between the buyer’s higher replacement costs and the lower Contract Price.

  • The parties have selected the "Cover Standard" version or the "Spot Price Standard" version as indicated on the Base Contract.

  • StockText - 50# Recycled White Uncoated Opaque Offset.Cover - 65# or 80# Recycled Colored Uncoated Cover; Standard Colors.


More Definitions of Cover Standard

Cover Standard means that if there is an unexcused failure to take or deliver any quantity of Gas pursuant to this Agreement, then the performing Party shall use commercially reasonable efforts to (i) if Buyer is the performing Party, obtain Gas, (or an alternate fuel if elected by Buyer and replacement Gas is not available), or (ii) if Seller is the performing Party, sell Gas, in either case, at a price reasonable for the delivery or production area, as applicable, consistent with: the amount of notice provided by the nonperforming Party; the quantities involved; and the anticipated length of failure by the nonperforming Party.
Cover Standard if applicable, shall mean the remedy available to the non-defaulting Party as described in Article 4.2.
Cover Standard. , if applicable, shall mean that if there is an unexcused failure to take or deliver any quantity of Gas pursuant to this Contract, then the non-defaulting party shall use commercially reasonable efforts to obtain Gas or alternate fuels, or sell Gas, at a price reasonable for the delivery or production area, as applicable, consistent with: the amount of notice provided by the defaulting party; the immediacy of the Buyer's Gas consumption needs or Seller's Gas sales requirements, as applicable; the quantities involved; and the anticipated length of failure by the defaulting party.
Cover Standard means that if there is an unexcused failure to deliver or to receive any quantity of Gas that is to be sold and purchased hereunder on a Firm basis, then the non-failing Party shall use commercially reasonable efforts to: (A) if Buyer is the non-failing Party, obtain Gas from a third party (or an alternate fuel, or alternate electricity, in either case as elected by Buyer when replacement Gas is not available), or (B) if Seller is the non-failing Party, sell Gas to a third party, in either case, at a price reasonable for the delivery or production area, as applicable, consistent with: (i) the amount of notice provided by the non- performing Party; (2) the immediacy of the Buyer’s Gas consumption needs or Seller’s Gas sales requirements, as applicable; (3) the quantities involved; and
Cover Standard means that if there is a Seller Delivery Failure pursuant to this Agreement, then the Buyer shall use commercially reasonable efforts to obtain Gas at a price reasonable for the delivery or production area, as applicable, consistent with: the amount of notice provided by the Seller; the immediacy of the Buyer's Gas consumption needs; the quantities involved; and the anticipated length of failure by the Seller.
Cover Standard means that if there is an unexcused failure to take or deliver any quantity of Gas pursuant to this Contract, then the performing Party shall use commercially reasonable efforts to (i) if Buyer is the performing Party, (1) obtain replacement Gas at a price reasonable for Gas in the Southern Natural Gas Company or the Florida Gas Transmission Company production area (or, if available at a lower price, at or near the Primary Delivery Point) (or an alternate fuel if elected by Buyer and replacement Gas is not available), and (2) utilize Buyer's then available secondary transportation that is not curtailed by a Transporter to effect delivery of such replacement gas; or (ii) if Seller is the performing Party, sell such Gas at a price reasonable for Gas at or near the Primary Delivery Point; and consistent with (a) the amount of notice provided by the non-performing Party; (b) the immediacy of the Buyer's Gas consumption needs or Seller's Gas sales requirements, as applicable; (c) the quantities involved; and (d) the anticipated length of failure by the non-performing Party.
Cover Standard means that if there is an unexcused failure to deliver or to receive any quantity of Gas that is to be sold and purchased hereunder on a Firm basis, then the non-failing Party shall use commercially reasonable efforts to: (A) if Buyer is the non-failing Party, obtain equivalent quantities of Gas from a third party (or an alternate fuel, or alternate electricity, in either case as elected by Buyer when replacement Gas is not available), or (B) if Seller is the non-failing Party, sell Gas to a third party, and in case of either (A) or (B) above, at a price reasonable for the delivery or production area, as applicable, consistent with: (1) the amount of notice provided by the non-performing Party; (2) the immediacy of the Buyer’s Gas consumption needs or Seller’s Gas sales requirements, as applicable; (3) the quantities of Gas involved; and (4) the anticipated length of failure by the non-performing Party.