Occurrence of Event of Default. Subject to Section 6, upon occurrence of an Event of Default by either Party, the defaulting Party shall be liable to the non-defaulting Party for only direct damages as defined in Sections 7.2 and 7.3 resulting from the Event of Default. In addition, the non-defaulting Party may pursue any remedies or other damages provided for under law and NYSEG may terminate this Agreement by giving at least 25 days advance written notice to Generator, such termination to be effective as of the date specified in such notice.
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Sources: Transition Power Purchase Agreement (Edison Mission Energy)
Occurrence of Event of Default. Subject to Section 6, upon occurrence of an Event of Default by either Party, the defaulting Party shall be liable to the non-defaulting Party for only direct damages as defined in Sections 7.2 and 7.3 Section 7.4 resulting from the Event of Default. In addition, the non-defaulting Party may pursue any remedies or other damages provided for under law and NYSEG may terminate this Agreement by giving at least 25 days advance written notice to Generatorthe defaulting Party, such termination to be effective as of the date specified in such notice.
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