Common use of Breach and Default Clause in Contracts

Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon Default 25 5.3 Damages Resulting From an Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 5.5 Step-up Provision 32 5.6 Setoff of Payment Obligations of The Non-Defaulting Party 33 5.7 Preservation of Rights of Non-Defaulting Party 33 ARTICLE 6: CREDITWORTHINESS 33 6.1 Applicability 33 6.2 Creditworthiness Determination 34 6.3 Independent Credit Requirement 34 6.4 Independent Credit Threshold 35 6.5 Mark-to-Market Credit Exposure Methodology 40

Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon Default 25 5.3 Damages Resulting From an Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 5.5 Step-up Provision 32 5.6 Setoff of Payment Obligations of The Non-Defaulting Party 33 5.7 Preservation of Rights of Non-Defaulting Party 33 ARTICLE 6: CREDITWORTHINESS 33 6.1 Applicability 33 6.2 Creditworthiness Determination 34 6.3 Independent Credit Requirement 34 6.4 Independent Credit Threshold 35 6.5 MarkXxxx-to-Market Credit Exposure Methodology 40

Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon and Event of Default 25 5.3 Damages Resulting From an Event of Default Damages; Settlement Amount; Termination Payment 26 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 5.5 Step-up Provision 32 5.6 29 5.5 Setoff of Payment Obligations of The the Non-Defaulting Party 33 5.7 30 5.6 Preservation of Rights of Non-Defaulting Party 33 30 ARTICLE 6: CREDITWORTHINESS 33 CREDITWORTHINESS; PERFORMANCE ASSURANCE 31 6.1 Applicability 33 31 6.2 Creditworthiness Determination 34 31 6.3 Independent Credit Requirement 34 32 6.4 Independent Credit Threshold 35 32 6.5 MarkXxxx-to-Market Credit Exposure Methodology 4038

Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon Default 25 5.3 Damages Resulting From an Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 5.5 Step-up Provision 32 5.6 Setoff of Payment Obligations of The Non-Defaulting Party 33 5.7 Preservation of Rights of Non-Defaulting Party 33 34 ARTICLE 6: CREDITWORTHINESS 33 34 6.1 Applicability 33 34 6.2 Creditworthiness Determination 34 6.3 Independent Credit Requirement 34 35 6.4 Independent Credit Threshold 35 6.5 Mark-to-Market Credit Exposure Methodology 4035

Breach and Default. 23 29 5.1 Events of Default 23 29 5.2 Rights Upon upon Default 25 32 5.3 Damages Resulting From an Event of Default 26 33 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 36 5.5 Step-up Provision 32 39 5.6 Setoff of Payment Obligations of The the Non-Defaulting Party 33 40 5.7 Preservation of Rights of Non-Defaulting Party 33 40 ARTICLE 6: CREDITWORTHINESS 33 41 6.1 Applicability 33 41 6.2 Creditworthiness Determination 34 41 6.3 Independent Credit Requirement 34 6.4 Independent Credit Threshold 35 6.5 Mark-to-Market Credit Exposure Methodology 4042 6.4 Credit Limit 43

Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon Default 25 5.3 Damages Resulting From an Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 5.5 Step-up Provision 32 5.6 Setoff of Payment Obligations of The Non-Defaulting Party 33 32 5.7 Preservation of Rights of Non-Defaulting Party 33 ARTICLE 6: CREDITWORTHINESS 33 6.1 Applicability 33 6.2 Creditworthiness Determination 34 6.3 Independent Credit Requirement 34 6.4 Independent Credit Threshold 35 6.5 MarkXxxx-to-Market Credit Exposure Methodology 40

Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon Default 25 5.3 Damages Resulting From an Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of 25 5.3 Default Damages; Settlement Amount and Amount; Termination Payment 29 5.5 27 5.4 Step-up Provision 32 5.6 30 5.5 Setoff of Payment Obligations of The the Non-Defaulting Party 33 5.7 30 5.6 Preservation of Rights of Non-Defaulting Party 33 31 ARTICLE 6: CREDITWORTHINESS 33 CREDITWORTHINESS; PERFORMANCE ASSURANCE 31 6.1 Applicability 33 31 6.2 Creditworthiness Determination 34 32 6.3 Independent Credit Requirement 34 33 6.4 Independent Credit Threshold 35 33 6.5 MarkXxxx-to-Market Credit Exposure Methodology 4037

Breach and Default. 23 22 5.1 Events of Default 23 22 5.2 Rights Upon Default 25 5.3 Damages Resulting From an and Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of 24 5.3 Default Damages; Settlement Amount and Amount; Termination Payment 29 5.5 25 5.4 Step-up Provision 32 5.6 28 5.5 Setoff of Payment Obligations of The the Non-Defaulting Party 33 5.7 29 5.6 Preservation of Rights of Non-Defaulting Party 33 29 ARTICLE 6: CREDITWORTHINESS 33 CREDITWORTHINESS; PERFORMANCE ASSURANCE 29 6.1 Applicability 33 29 6.2 Creditworthiness Determination 34 30 6.3 Independent Credit Requirement 34 31 6.4 Independent Credit Threshold 35 31 6.5 Mark-to-Market Credit Exposure Methodology 403737373736