Underdelivery. If in respect of a Time Unit and a TVB Transaction, the Contract Quantity exceeds the Delivered Quantity by reason of Seller’s Default, the Seller shall pay to the Buyer an amount (if positive) equal to: (a) the difference between the Negative Imbalance Price and the Contract Price, (b) multiplied by the Default Quantity.
Appears in 2 contracts
Sources: TVB Appendix to the General Agreement Concerning the Delivery and Acceptance of Natural Gas, TVB Appendix to the General Agreement Concerning the Delivery and Acceptance of Natural Gas