Common use of Early Termination / Cancellation Clause in Contracts

Early Termination / Cancellation. If Customer cancels this Agreement prior to the Start Date, terminates or discontinues service, switches service to another supplier, or transfers service to the default service provider during the Transaction Term, Customer will be charged an Early Termination Fee equal to the Contract Price less the Current Market Price multiplied by the amount of electric energy supply Customer failed to consume calculated based on historical usage. The Current Market Price is the wholesale price of energy as determined by ENGIE in a commercially reasonable manner. ENGIE may terminate this Agreement if Customer’s utility/distribution company removes Customer from the consolidated billing program and requires that ▇▇▇▇▇ ▇▇▇▇ Customer separately for energy supply; or Customer fails to make any payment or deposit when due; or Customer has filed a petition or otherwise commences a proceeding under a bankruptcy law. If ENGIE terminates this Agreement for one of the reasons set forth, Customer will be charged an Early Termination Fee and remain obligated to pay for all electricity received and any interest, fees and penalties incurred by ENGIE. The Early Termination Fee shall be due within 15 Business Days of written notice to Customer. No Early Termination Fee will be due if Customer discontinues service at a facility prior to the End Date due to the sale or closure of the facility address, provided that Customer provides thirty (30) days’ advance written notice to ENGIE, a forwarding address, and other evidence required by ENGIE verifying that Customer no longer occupies the facility. Customer will remain responsible for the billing and payment obligations until ENGIE service is terminated, switched to another provider, transferred to the default service provider, or otherwise discontinued.