QUANTITY REDUCTIONS 9 Sample Clauses

The QUANTITY REDUCTIONS clause allows one party, typically the buyer, to reduce the quantity of goods or services ordered under a contract. In practice, this clause sets out the conditions and procedures for making such reductions, such as required notice periods or limitations on the extent of reductions. Its core function is to provide flexibility for the buyer to adjust their order to reflect changing needs, while also giving the seller clarity on how such changes will be managed.
QUANTITY REDUCTIONS 9. 1 In the event that Buyer's Gas requirements for any Gas Day are decreased due to a curtailment by a Power Purchaser, Outages, or other force majeure conditions described herein, then Buyer shall reduce the amount of Gas it receives on such Gas Day in accordance with the following order of reduction priority: (a) First, Gas to be delivered under any Gas storage agreements or arrangements entered into after the date of this Base Contract; (b) Second, Gas to be purchased under other contracts; and (c) Third, Gas to be purchased under this Base Contract and the Base Contract dated as of the date hereof between Buyer and Tractebel Energy Marketing, Inc., ratably on a 50/50 basis. For any Gas Day that Buyer is reducing the Contract Quantity pursuant to this Section, Buyer shall issue a Nomination to Seller designating the reduced Contract Quantity immediately upon receiving information that a quantity reduction is necessary, but in no event later than 9:30 a.m., Eastern Prevailing Time on the Business Day prior to the Gas Day on which deliveries are to be so reduced. Buyer shall not reduce the amount of Gas it receives for any Gas Day for economic or any other non-operational reasons, except that Buyer shall be entitled to a reduction as a result of a curtailment of the Facility by any Power Purchaser.
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QUANTITY REDUCTIONS 9. 1 In the event that Buyer's Gas requirements for any Gas Day are decreased due to JCP&L curtailments, Outages, or other force majeure conditions described herein, then Buyer shall reduce the amount of Gas it receives on such Gas Day in accordance with the following order of reduction priority: (a) First, Gas to be purchased under the PSE&G Contract, as and to the extent provided therein; (b) Second, Gas to be delivered under any Gas storage agreements or arrangements entered into after the date of this Base Contract; (c) Third, Gas to be purchased under other contracts; and (d) Fourth, Gas to be purchased under this Base Contract and the Base Contract dated as of the date hereof between Buyer and Tractebel Energy Marketing, Inc., ratably on a 50/50 basis. For any Gas Day that Buyer is reducing the Contract Quantity pursuant to this Section, Buyer shall issue a Nomination to Seller designating the reduced Contract Quantity immediately upon receiving information that a quantity reduction is necessary, but in no event later than 9:30 a.m., Eastern Prevailing Time on the Business Day prior to the Gas Day on which deliveries are to be so reduced. Buyer shall not reduce the amount of Gas it receives for any Gas Day for economic or any other non-operational reasons, except that Buyer shall be entitled to a reduction as a result of a curtailment of the Facility for up to two hundred (200) hours per year pursuant to Section 6.5 (d) of the Power Purchase Agreement between Jersey Central Power & Light and Buyer relating to the Facility. 9.2 In the event of a Forced Outage, Buyer may request that Seller remarket any Gas that Buyer is required to accept hereunder and Seller shall use commercially reasonable efforts to do so and shall be entitled to Seller's Cover Costs for any such amount. Such requests shall be made pursuant to the Confirmation procedures set forth in Article I above.
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