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{"snippet_links": [{"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [0, 38]}, {"key": "all-sales", "type": "clause", "offset": [39, 48]}, {"key": "renewable-power", "type": "clause", "offset": [52, 67]}, {"key": "forward-contracts", "type": "clause", "offset": [90, 107]}, {"key": "meaning-of", "type": "clause", "offset": [120, 130]}, {"key": "united-states-bankruptcy-code", "type": "definition", "offset": [135, 164]}], "samples": [{"hash": "1e4aquiDaN1", "uri": "/contracts/1e4aquiDaN1#forward-contract", "label": "Renewable Energy Purchase Agreement", "score": 31.5163326263, "published": true}, {"hash": "81HdH5QqPp7", "uri": "/contracts/81HdH5QqPp7#forward-contract", "label": "Commercial and Industrial Renewable Energy Program Purchase Agreement", "score": 29.9111480713, "published": true}, {"hash": "lhAaOGtFpyk", "uri": "/contracts/lhAaOGtFpyk#forward-contract", "label": "Commercial and Industrial Renewable Energy Program Purchase Agreement", "score": 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"offset": [1175, 1192]}, {"key": "payment-of", "type": "clause", "offset": [1194, 1204]}, {"key": "payable-within", "type": "definition", "offset": [1245, 1259]}, {"key": "banking-day", "type": "definition", "offset": [1262, 1273]}, {"key": "notice-of-liquidation", "type": "definition", "offset": [1291, 1312]}, {"key": "in-addition-to", "type": "clause", "offset": [1322, 1336]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [1341, 1366]}], "samples": [{"hash": "9A1oGK84TAA", "uri": "/contracts/9A1oGK84TAA#forward-contract", "label": "Corn Oil Purchase Agreement", "score": 30.774433136, "published": true}, {"hash": "d7AVjndX0b7", "uri": "/contracts/d7AVjndX0b7#forward-contract", "label": "Vegetable Oil Purchase Contract", "score": 30.4996738434, "published": true}, {"hash": "9jYKhV7UmVp", "uri": "/contracts/9jYKhV7UmVp#forward-contract", "label": "Vegetable Oil Purchase Agreement", "score": 29.9285869598, "published": true}], "snippet": "It is agreed that this Contract is a \u201cForward Contract\u201d as defined in the Bankruptcy Code (11 U.S.C. Sec 101(25)). If one Party (the Defaulting Party) files a petition in bankruptcy, reorganization, or receivership; becomes insolvent or incapable of paying its debts as they become due or makes a general assignment for the benefit of creditors, the other Party (the Liquidating Party) shall have the immediate right, exercisable in its sole discretion, to liquidate this Contract and all other forward contracts (as defined in the Bankruptcy Code) then outstanding between the Parties (whether the Liquidating Party is seller or buyer thereunder) by closing out all such contracts at the then current market prices so that each contract being liquidated is terminated except for the settlement payment referred to below. The Liquidating Party shall calculate the difference, if any, between the price specified in each contract so liquidated, and the market price for the relevant Product as of the date of liquidation (as determined by the Liquidating Party in any commercially reasonable manner), and aggregate or net such settlement payments, as appropriate, to a single liquidated amount. Payment of said settlement payment will be due and payable within 1 banking day after reasonable notice of liquidation. This is in addition to any other rights and remedies which the other Party may have.", "size": 22, "hash": "ba6a5617b361b25126cff1d3b2fe7f51", "id": 6}, {"snippet_links": [], "samples": [{"hash": "kLNS2WfH5ZE", "uri": "/contracts/kLNS2WfH5ZE#forward-contract", "label": "Confirmation Agreement", "score": 36.1102371216, "published": true}, {"hash": "bWjeHCgGz4e", "uri": "/contracts/bWjeHCgGz4e#forward-contract", "label": "Confirmation Agreement", "score": 35.1091194153, "published": true}, {"hash": "8RbHnfyVevz", "uri": "/contracts/8RbHnfyVevz#forward-contract", "label": "Confirmation Agreement", "score": 34.7653160095, "published": true}], "snippet": "Section 10.10 is replaced in its entirety, as follows:", "size": 48, "hash": "a1d55666207235c299b7effffa87d6e6", "id": 4}, {"snippet_links": [{"key": "buyer-and-seller", "type": "definition", "offset": [0, 16]}, {"key": "forward-contract-merchant", "type": "clause", "offset": [48, 73]}, {"key": "all-transactions", "type": "clause", "offset": [84, 100]}, {"key": "pursuant-to", "type": "clause", "offset": [101, 112]}, {"key": "master-agreement", "type": "clause", "offset": [118, 134]}, {"key": "forward-contracts", "type": "clause", "offset": [147, 164]}, {"key": "meaning-of", "type": "clause", "offset": [177, 187]}, {"key": "united-states-bankruptcy-code", "type": "definition", "offset": [192, 221]}], "samples": [{"hash": "cEBNqeKH5Cf", "uri": "/contracts/cEBNqeKH5Cf#forward-contract", "label": "Master Solar Rec Agreement", "score": 33.0827407837, "published": true}, {"hash": "k5sT2CciHuB", "uri": "/contracts/k5sT2CciHuB#forward-contract", "label": "Master Solar Rec Agreement", "score": 32.8309020996, "published": true}, {"hash": "jSan4zAPjBL", "uri": "/contracts/jSan4zAPjBL#forward-contract", "label": "Master Solar Rec Agreement", "score": 32.1328735352, "published": true}], "snippet": "Buyer and Seller each acknowledge that it is a \u201cforward contract merchant\u201d and that all transactions pursuant to this Master Agreement constitute \u201cforward contracts\u201d within the meaning of the United States Bankruptcy Code.", "size": 73, "hash": "3e2bed34f9ccddddd12d8783cc9b4079", "id": 3}], "next_curs": "ClkSU2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjULEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ihlmb3J3YXJkLWNvbnRyYWN0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "Forward Contract", "parents": [["miscellaneous", "Miscellaneous"], ["default-and-termination", "Default and Termination"], ["covenants", "Covenants"], ["miscellaneous-provisions", "Miscellaneous Provisions"], ["interpretation", "Interpretation"]], "children": [["", ""], ["definitions", "Definitions"], ["representations-and-warranties", "Representations and Warranties"], ["successors-and-assigns", "Successors and Assigns"], ["binding-effect", "Binding Effect"]], "size": 852, "id": "forward-contract", "related": [["standard-contract", "Standard Contract", "Standard Contract"], ["overdraft", "Overdraft", "Overdraft"], ["hedging-contracts", "Hedging Contracts", "Hedging Contracts"], ["report-of-contract-usage", "REPORT OF CONTRACT USAGE", "REPORT OF CONTRACT USAGE"], ["standard-contractual-clauses", "Standard Contractual Clauses", "Standard Contractual Clauses"]], "related_snippets": [], "updated": "2026-02-25T05:25:33+00:00", "also_ask": ["What key terms must be included to ensure enforceability of a forward contract?", "How can parties mitigate counterparty risk in forward contract negotiations?", "What are the most common legal pitfalls or fatal flaws in drafting forward contracts?", "How do forward contracts differ from futures contracts in terms of legal treatment and risk allocation?", "What factors do courts consider when determining the enforceability of a disputed forward contract?"], "drafting_tip": "Specify the delivery terms and payment obligations to prevent disputes; define default and termination events to ensure enforceability; clarify governing law to provide legal certainty.", "explanation": "A Forward Contract clause establishes a binding agreement between two parties to buy or sell a specific asset at a predetermined price on a future date. This clause typically outlines the asset involved, the agreed-upon price, the delivery date, and any conditions or obligations for both parties. By setting these terms in advance, the clause provides certainty and helps both parties manage price risk and plan for future financial commitments."}, "json": true, "cursor": ""}}