MX Canada Sample Clauses

MX Canada. (i) Any covenants or representations and warranties undertaken or made by or on behalf of MX Canada under this Agreement shall apply only to MX Canada. (ii) Notwithstanding Part 12(a)(xi) and Part 13(b)(xiii), Party A and Party B agree that Party B may sell Gas to, and enter into physically and financially settled Gas Swaps and Gas Options with, MX Canada (each such transaction, an “MX Canada Transaction”); provided, however, that MX Canada (with the exception of any transactions outstanding on the Closing Date) shall be subject to the same restrictions and covenants with respect to such transactions and the operation of its business and the same reporting requirements that, in each case, would be applicable to Party B if Party B were entering into such transactions with Party A hereunder, including the covenants set forth in Part 12(a)(viii), (xi), (xii), (xiii), (xiv), and (xvi) and Part 13(b). In addition, any Event of Default or Termination Event with respect to Party B under this Agreement shall be a default with respect to MX Canada under each MX Canada Transaction. Concurrently with, and as a condition precedent to, entering into any MX Canada Transaction, Party A and Party B shall enter into back-to-back offsetting Transactions having the same contract quantities, contract price, notional quantities, fixed and floating prices, and remain tenors (in each case as applicable) with respect to such MX Canada Transaction and otherwise on terms satisfactory to Party A in its sole discretion. Notwithstanding anything herein to the contrary, at no time shall Party B’s potential credit exposure (including the exposure for the value of delivered commodities and the potential ▇▇▇▇-to-market exposure on physically and financially settled transactions) to MX Canada, as calculated by Party A, exceed $900,000.