Common use of Storage Availability Guarantee Clause in Contracts

Storage Availability Guarantee. During the Term, the Storage Facility shall maintain a Storage Availability during each Contract Year of no less than the Guaranteed Storage Availability (the “Storage Availability Guarantee”). If Seller fails to satisfy the Storage Availability Guarantee in accordance with the requirements set forth in Exhibit U, then Seller shall be liable to PacifiCorp for the Storage Availability Damages calculated and paid in accordance with Exhibit U. The invoice for such Storage Availability Damages shall include a written statement explaining in reasonable detail the calculation of such Storage Availability Damages in accordance with Exhibit U. Each Party acknowledges and agrees that: (a) the damages PacifiCorp would incur due to Seller’s failure to satisfy the Storage Availability Guarantee are difficult or impossible to predict with certainty; (b) it is impractical and difficult to assess actual damages in these circumstances; and, therefore, (c) Storage Availability Damages as agreed to by the Parties are a fair and reasonable calculation of damages and not a penalty. Except in the case of an Event of Default pursuant to Section 11.1.2(k), Storage Availability Damages shall be PacifiCorp’s sole remedy for Seller’s failure to satisfy the Storage Availability Guarantee in accordance with the requirements set forth in Exhibit U.

Storage Availability Guarantee. During the Term, the Storage Facility shall must maintain a Storage Availability during each Contract Year of no less than the Guaranteed Storage Availability (the “Storage Availability Guarantee”)Guarantee applicable to such Contract Year. If Seller fails to satisfy the Storage Availability Guarantee in accordance with the requirements set forth in Exhibit U, then Seller shall will be liable to PacifiCorp for the Storage Availability Damages calculated and paid in accordance with Exhibit U. The invoice for such Storage Availability Damages shall will include a written statement explaining in reasonable detail the calculation of such Storage Availability Damages in accordance with Exhibit U. Each Party acknowledges and agrees that: (a) the damages PacifiCorp would incur due to Seller’s failure to satisfy the Storage Availability Guarantee are difficult or impossible to predict with certainty; (b) it is impractical and difficult to assess actual damages in these circumstances; and, therefore, (c) Storage Availability Damages as agreed to by the Parties are a fair and reasonable calculation of damages and not a penalty. Except in the case of an Event of Default pursuant to Section 11.1.2(k), Storage Availability Damages shall will be PacifiCorp’s sole remedy for Seller’s failure to satisfy the Storage Availability Guarantee in accordance with the requirements set forth in Exhibit U.