Firm Transaction definition

Firm Transaction means Buyer shall have an absolute obligation to purchase and receive, and Seller shall have an absolute obligation to sell and deliver one hundred per cent (100%) of the Contract Quantity in the applicable Confirmation. Failure to buy or sell the Contract Quantity shall subject the failing party to the damages prescribed in Article VII.
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Firm Transaction means Buyer shall have an absolute obligation to purchase and receive, and Seller shall have an absolute obligation to sell and deliver one hundred per cent (100%) of the Contract Quantity in the applicable Confirmation. Failure to buy or sell the Contract Quantity shall subject the failing party to the damages prescribed in Article VII. 2.13 "Forward Contract" means any agreement constituting a "forward contract" within the meaning of the United States Bankruptcy Code, including, without limitation, a Transaction or any other agreement for the sale, purchase or transfer (including a swap) of Gas which has a maturity date or delivery period more than two days after the date the Forward Contract is entered into. 2.14 "Gas" means any mixture of hydrocarbons and non-combustible gases in a gaseous state consisting primarily of methane. 2.15 "Imbalance Charge" means any scheduling, imbalance or similar penalties, fees, forfeitures, cashouts, or charges (in cash or in kind) assessed by a Transporter for failure to satisfy the Transporter's balance and/or nomination requirements. 2.16 "Market Value" means the amount of Gas remaining to be delivered or purchased under a Transaction multiplied by the market price per MMBtu determined by the Performing Party in a commercially reasonable manner. 2.17 "MMBtu" means one million BTU's, equal to one dekatherm. 2 <PAGE> 2.18 "Payment Date" means the twenty-fifty (25th) day of the calendar month in which the invoice was rendered, or ten (10) days after the date of receipt of the invoice, whichever is later; provided that if the twenty-fifth (25th) day is not a Business Day, payment is due on the next Business Day following that date. 2.19 "Replacement Price" is the price at which Buyer is able, acting in good faith, to obtain comparable Gas supplies at the lowest reasonable price. 2.20 "Sales Price" is the price at which Seller is able, acting in good faith, to make comparable Gas sales at the highest reasonable price. 2.21 "Schedule" or "Scheduled" means the acts of Seller, Buyer, and the Transporter(s) of notifying, requesting, and confirming to each other the quantity of Gas to be delivered hereunder on any given Day. 2.22 "Seller's Deficiency Quantity" means the difference between the Contract Quantity and the actual Gas quantity delivered by Seller for each Day on which Buyer's failure occurred pursuant to Section 7.1(b). 2.23 "Swing Transaction" means that deliveries and receipts of Gas will be on a swing or interrup...
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Examples of Firm Transaction in a sentence

  • The Firm Transaction Documents will not be provided to GlobalSCAPE or the Surviving Corporation or their respective successors or assigns following the Closing.

  • Unless excused by Force Majeure or Buyer’s failure to perform, if Seller fails to schedule and/or deliver all or part of the Contract Quantity pursuant to a Firm Transaction, Seller shall pay Buyer an amount for each unit of Energy in such deficiency equal to the positive difference, if any, obtained by subtracting the Contract Price from the Replacement Price.

  • Firm Transaction Documents will include all notes, memoranda and correspondence between the Firm, the Company and its officers, directors and other agents regarding this Agreement and the related transactions, and all attorney work-product in connection with this Agreement and related transactions, but will exclude corporate and stock records that customarily are kept in a minute book.

Related to Firm Transaction

  • M&A Transaction means any acquisition, directly or indirectly, by a Project Holdco, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all or a portion of the Equity Interests of, or a business line or unit or a division of, any Person.

  • Pawn transaction means the same as that term is defined in Section 13-32a-102.

  • SPAC Transaction means a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Company with a publicly traded “special purpose acquisition company” or its subsidiary (collectively, a “SPAC”), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board of Directors, including a majority of the Preferred Directors.

  • Roll-Up Transaction means a transaction involving the acquisition, merger, conversion or consolidation either directly or indirectly of the Company and the issuance of securities of a Roll-Up Entity to the holders of Common Shares. Such term does not include:

  • Bundled transaction means the purchase of 2 or more distinct and identifiable products, except real property and services to real property, where the products are sold for a single nonitemized price. A bundled transaction does not include the sale of any products in which the sales price varies, or is negotiable, based on the selection by the purchaser of the products included in the transaction. As used in this subdivision: