Common use of Bookouts Clause in Contracts

Bookouts. If specified as applicable in the Cover Sheet, then the following provisions of this Section 5.3 shall apply. To the extent that the Parties subsequently agree orally or in writing, either bilaterally or as part of a multiparty arrangement, to a ▇▇▇▇▇▇▇ or other cancellation or modification of physical delivery obligations in respect of a Transaction (in each case, a “▇▇▇▇▇▇▇”) to take effect on a date (the “▇▇▇▇▇▇▇ Effective Date”), (a) the delivery obligations under the relevant Transaction will be extinguished or modified (whether in whole or in part), and (b) any agreed payment will be due on the same day as the effective date of the ▇▇▇▇▇▇▇. At any time prior to the agreed effective date of the ▇▇▇▇▇▇▇, either Party may elect, at its option and upon notice to the other Party, to break the ▇▇▇▇▇▇▇ and thereby restore all original contract terms, including delivery and payment, all without liability to the other Party. Any such ▇▇▇▇▇▇▇ shall be a subsequent and independent transaction from the Transaction that is subject to the ▇▇▇▇▇▇▇.