Default Price Sample Clauses
Default Price. The Company’s accountants shall give written notice to the Members of the determination of the Default Price made pursuant to Section 10.03(b)(ii) not later than ten (10) days after such accountant’s receipt of the determination of the Appraised Values pursuant to Section 10.03(a). The determination by the accountants of such amounts, including all components thereof, shall be deemed conclusive absent any manifest error.
Default Price. On a given Day, at a given Locational Point, the Default Price is equal to 1.25 x OfferedPRICE, where the OfferedPRICE is the Transaction Price set with the Preferred Supplier for the day and the Locational Point stated in the Transaction.
Default Price. Upon the occurrence of any Events of Default described in clause (c), (d), (e), (f), (g), (i) or (j) of the definition thereof with respect to any Partner (a “Defaulting Partner”), the Non-Defaulting Partner shall have the right, by Notice given to the Defaulting Partner, to purchase, either for its own account or by assignment to an Affiliate or any other Person designated by the Non-Defaulting Partner (a “FMV Purchaser”), the entire Interest of the Defaulting Partner at the FMV Price determined pursuant to Section 20.5 hereof. The amount payable to a Defaulting Partner for its Interest hereunder shall be referred to as the “Default Price” and shall be equal to the FMV Price less (a) the amount of any actual direct damages caused by the Defaulting Partner’s breach (but specifically excluding punitive and compensatory damages), (b) the reasonable out-of-pocket expenses incurred by the Non-Defaulting Partner in response to or enforcement of the subject Event of Default, (c) the costs of any Qualified Appraiser appointed pursuant to Section 20.5; and (d) for an Event of Default described in clause (c), (g) or (i) of the definition thereof only, the lesser of 5% of the FMV Price or $1 million.