Common use of Joint Representations and Warranties Clause in Contracts

Joint Representations and Warranties. This Agreement is for the purchase and sale of Full Requirements Service that will be delivered in quantities expected to be used or sold over a defined period(s) in the normal course of business, and it is the intention at the inception and throughout the term of each Transaction under this Agreement that the Agreement will result in physical delivery and not financial settlement, and the quantity of Full Requirements Service that DS Supplier must deliver and Company must receive will be determined by the requirements of the applicable DS Load, and, as such, the Agreement does not provide for an option by either Party with respect to the quantity of Full Requirements Service to be delivered or received during performance of the Agreement. This Agreement has been drafted to effectuate Company’s and DS Supplier’s specific intent so that in accordance with Accounting Standards Codification 815 (“ASC 815”), as amended, Company would be able to elect to use accrual accounting for its purchases under this Agreement, while DS Supplier would be able to elect to use either accrual or xxxx-to-market accounting for its sales under the Agreement. If either Company or DS Supplier determines, in good faith, that the intended accounting treatment has become jeopardized, due to a change in interpretations of ASC 815, as amended, or otherwise, then Company and DS Supplier agree to meet and use their best efforts to reform the Agreement so that, with the minimum changes possible, the Agreement again qualifies for the intended accounting treatments.

Joint Representations and Warranties. This Agreement is for the purchase and sale of Full Requirements Service that will be delivered in quantities expected to be used or sold over a defined period(s) in the normal course of business, and it is the intention at the inception and throughout the term of each Transaction under this Agreement that the Agreement will result in physical delivery and not financial settlement, and the quantity of Full Requirements Service that DS Supplier must deliver and Company must receive will be determined by the requirements of the applicable DS Load, and, as such, the Agreement does not provide for an option by either Party with respect to the quantity of Full Requirements Service to be delivered or received during performance of the Agreement. This Agreement has been drafted to effectuate Company’s and DS Supplier’s specific intent so that in accordance with Accounting Standards Codification 815 (“ASC 815”), as amended, Company would be able to elect to use accrual accounting for its purchases under this Agreement, while DS Supplier would be able to elect to use either accrual or xxxxmark-to-market accounting for its sales under the Agreement. If either Company or DS Supplier determines, in good faith, that the intended accounting treatment has become jeopardized, due to a change in interpretations of ASC 815, as amended, or otherwise, then Company and DS Supplier agree to meet and use their best efforts to reform the Agreement so that, with the minimum changes possible, the Agreement again qualifies for the intended accounting treatments.

Joint Representations and Warranties. This Agreement is for the purchase and sale of Full Requirements Service AECs that will be delivered in quantities expected to be used or sold over a defined period(s) in the normal course of business, and it is the intention at the inception and throughout the term of each Transaction under this Agreement that the Agreement will result in physical delivery and not financial settlement, and the quantity of Full Requirements Service AECs that DS Supplier Seller must deliver and Company Buyer must receive will be determined by the requirements of the applicable DS LoadTransaction Confirmation, and, as such, the Agreement does not provide for an option by either Party with respect to the quantity of Full Requirements Service AECs to be delivered or received during performance of the Agreement. This Agreement has been drafted to effectuate CompanyBuyer’s and DS SupplierSeller’s specific intent so that in accordance with Accounting Standards Codification 815 (“ASC 815”), as amended, Company Buyer would be able to elect to use accrual accounting for its purchases under this Agreement, while DS Supplier Seller would be able to elect to use either accrual or xxxx-to-market accounting for its sales under the Agreement. If either Company Buyer or DS Supplier Seller determines, in good faith, that the intended accounting treatment has become jeopardized, due to a change in interpretations of ASC 815, as amended, or otherwise, then Company Buyer and DS Supplier Seller agree to meet and use their best efforts to reform the Agreement so that, with the minimum changes possible, the Agreement again qualifies for the intended accounting treatments.