Under Acceptance. If in respect of a Time Unit and an Individual Contract, the Contract Quantity exceeds the Delivered Quantity by more than the Tolerance by reason of Buyer's Default, the Buyer shall pay to the Seller as compensation for its resulting losses an amount equal to the product of: (a) the amount, if positive, by which the Contract Price exceeds the price at which the Seller acting in a commercially reasonable manner is or would be able to contract to sell a quantity of Natural Gas equivalent to the Default Quantity in an arm's length sale to a third party (which may include the relevant Network Operator) for such Time Unit; and (b) the Default Quantity. Such amount shall be increased by the amount of any incremental transportation costs and charges and other reasonable and verifiable costs or expenses incurred by the Seller in respect of the Default Quantity.
Appears in 3 contracts
Sources: General Agreement, General Agreement, General Agreement