Common use of Storage Availability Clause in Contracts

Storage Availability. During the Term, the Storage Facility shall maintain a Storage Availability during each Contract Year of no less than the Guaranteed Storage Availability. If the Storage Availability during any Contract Year is less than the Guaranteed Storage Availability, then Seller shall cure such failure by paying to PacifiCorp Storage Availability Damages calculated in accordance with Exhibit P. The invoice for such amount shall include a written statement explaining in reasonable detail the calculation of such Storage Availability Damages in accordance with Exhibit P. Each Party acknowledges and agrees that: (a) the damages PacifiCorp would incur due to Seller’s failure to achieve the Guaranteed Storage Availability are difficult or impossible to predict with certainty; (b) it is impractical and difficult to assess actual damages in these circumstances; and, therefore, (c) Storage Availability Damages as agreed to by the Parties are a fair and reasonable calculation of damages and not a penalty.

Storage Availability. During the Term, the Storage Facility shall maintain a Storage Availability during each Contract Year of no less than the Guaranteed Storage Availability. If the Storage Availability during any Contract Year is less than the Guaranteed Storage Availability, then Seller shall cure such failure by paying to PacifiCorp Storage Availability Damages calculated in accordance with Exhibit P. The invoice for such amount shall include a written statement explaining in reasonable detail the calculation of such Storage Availability Damages in accordance with Exhibit P. Each Party acknowledges and agrees that: : (a) the damages PacifiCorp would incur due to Seller’s failure to achieve the Guaranteed Storage Availability are difficult or impossible to predict with certainty; (b) it is impractical and difficult to assess actual damages in these circumstances; and, therefore, (c) Storage Availability Damages as agreed to by the Parties are a fair and reasonable calculation of damages and not a penalty.