Replacement Gas Costs definition

Replacement Gas Costs means (a) in the event of a failure on the part of Seller to deliver Scheduled Gas, an amount equal to the sum of (i) the product of (A) the difference between the amount of Scheduled Gas and the actual quantity of Gas delivered by Seller and received by Purchaser for such Day(s), and (B) the positive difference, if any, obtained by subtracting the Contract Price applicable to the portion of the Scheduled Gas constituting Baseload Gas and the portion of the Scheduled Gas constituting Additional Gas, as applicable, from the Spot Price, and (ii) the Incremental Transportation Costs; or (b) in the event of a failure on the part of Purchaser to receive any portion of the Scheduled Gas, an amount equal to the product of (X) the difference between the Scheduled Gas and the actual quantity delivered by Seller and received by Purchaser for such Day(s), and (Y) the positive difference, if any, obtained by subtracting the applicable Spot Price from the Contract Price applicable to the portion of the Scheduled Gas constituting Baseload Gas and the portion of the Scheduled Gas constituting Additional Gas.
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Replacement Gas Costs means (a) in the event of a failure to deliver Gas during any period in which there exists a Firm obligation on the part of Seller to deliver Gas, an amount equal to the difference between the amount of Gas required to be delivered by Seller pursuant to such Firm obligation, and the actual quantity delivered by quantity of Gas delivered by Seller and received by Purchaser for that period, multiplied by the positive difference, if any, obtained by subtracting the Contract Price for the Monthly Baseload Gas or Daily Firm Gas (as applicable), that Seller failed to deliver, from the Spot Price; or (b) in the event of a failure on the part of Purchaser to receive any Gas during any period in which there exists a Firm obligation on the part of the Purchaser to receive Gas, an amount equal to the difference between the amount of Gas required to be purchased and received by Purchaser and the actual quantity delivered by Seller and received by Purchaser for such period, multiplied by the positive difference, if any, obtained by subtracting the applicable Spot Price from the Contract Price applicable to the Monthly Baseload Gas or Daily Firm Gas (as applicable) that Purchaser failed to receive; plus (c) in the case of (a) above, any incremental gas transportation costs incurred by Purchaser (in addition to the Transportation Costs) in delivering the quantity of Gas purchased in replacement of the Gas that Seller failed to deliver from the Replacement Gas Delivery Point or other delivery point at which Purchaser procures such Gas, to the point that Purchaser ultimately designated for delivery of the Gas, and which may include the Transportation Costs.
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Examples of Replacement Gas Costs in a sentence

  • In the event any payments are due Purchaser hereunder, including any payments of Replacement Gas Costs, payment to Purchaser shall be made, subject to the netting provisions of Section 9.5, in immediately available funds to the account specified from time to time by Purchaser in a written notice to Seller, on or before the Payment Date.

  • If Purchaser makes such nominations for Scheduled Gas during the Commercial Operation Delay Period, Seller shall compensate Purchaser for all Replacement Gas Costs for the Scheduled Gas, except to the extent Seller delivers Replacement Gas therefor at the Delivery Point.

  • The obligation to pay Replacement Gas Costs shall not apply to Scheduled Maintenance Outages otherwise during the first six (6) Months after the Commercial Operation Date.

  • Once a Party has paid Replacement Gas Costs equal to the Yearly LD Limit, such Party’s obligation to pay Replacement Gas Costs thereafter for the remainder of the same Contract Year shall be suspended.

  • If at any time during a Contract Year, Seller’s aggregate obligation to pay Replacement Gas Costs reaches the Yearly LD Limit (regardless of actual payment), then as of the date that such Yearly LD Limit is achieved, the Contract Price for all deliveries of Gas that occur on such date and thereafter until the end of the same Contract year shall be the Daily Index Price minus $0.10 per MMBtu.

  • However, if the obligation of Seller to pay Replacement Gas Costs during any Contract Year reaches the Yearly LD Limit, then the provisions of Section 10.1 shall apply.

  • In addition to the foregoing, the Monthly Gas payment shall be automatically adjusted during any Contract Year in which Seller’s obligation to pay Replacement Gas Costs reaches the Yearly LD Limit.