Calculate the Termination Payment. Buyer shall calculate the Termination Payment by aggregating all Settlement Amounts into a single liquidated amount by summing the calculated Settlement Amount with respect to a Designated System across all Designated Systems. Termination Payment = $526,825.29 The Termination Payment, if any, is due to Buyer as the Non-Defaulting Party within twenty (20) Business Days following notice by Buyer to Seller pursuant to Section 9.3. Unless Seller pays the Termination Payment in full during this twenty (20) Business Day period, Seller’s Performance Assurance held by Buyer shall be applied to the Termination Payment, with any excess amounts returned to Seller. For avoidance of doubt, the Non-Defaulting Party shall not owe any amount as Termination Payment to the Defaulting Party and payment of the Termination Payment shall only be from the Defaulting Party to the Non-Defaulting Party.
Appears in 2 contracts
Sources: Master Renewable Energy Credit Purchase and Sale Agreement, Master Renewable Energy Credit Purchase and Sale Agreement