Termination Payment Calculations Sample Clauses
The Termination Payment Calculations clause defines how financial obligations are determined and settled when a contract is ended before its natural expiration. It typically outlines the method for calculating amounts owed by either party, such as outstanding fees, accrued costs, or penalties, and may specify timelines or procedures for payment. This clause ensures that both parties have a clear understanding of their financial responsibilities upon termination, reducing disputes and facilitating a smoother conclusion to the contractual relationship.
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Termination Payment Calculations. The Non-Defaulting Party shall calculate the Termination Payment as follows:
Termination Payment Calculations. The Non-Defaulting Party shall calculate the Termination Payment in accordance with the following formula: Termination Payment = Market Value + Costs + Outstanding Purchase Price, if any WHERE:
(a) Market Value" shall be (i) in the case Department is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) payments under a Replacement Contract based on the Per Unit Market Price, and
Termination Payment Calculations. The Non-Defaulting Party shall calculate the Termination Payment as follows:
(a) Market Value shall be (i) in the case Party B is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) payments under a Replacement Contract based on the Per Unit Market Price, and (B) payments under this Agreement, or (ii) in the case Party A is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) payments under this Agreement, and (B) payments under a Replacement Contract based on the Per Unit Market Price, in each case using the Present Value Rate as of the time of termination (to take account of the period between the time notice of termination was effective and when such amount would have otherwise been due pursuant to the relevant transaction). The "Present Value Rate" shall mean the sum of 0.50% plus the yield reported on page "USD" of the Bloomberg Financial Markets Services Screen (or, if not available, any other nationally recognized trading screen reporting on-line intraday trading in United States government securities) at 11:00 a.m. (New York City, New York time) for the United States government securities having a maturity that matches the average remaining term of this Agreement. It is expressly agreed that the Non-Defaulting Party shall not be required to enter into a Replacement Contract in order to determine the Termination Payment.
(b) To ascertain the Per Unit Market Price of a Replacement Contract with a term of less than one year, the Non-Defaulting Party may consider, among other valuations, quotations from leading dealers in energy contracts, the settlement prices on established, actively traded power exchanges, other bona fide third party offers and other commercially reasonable market information.
(c) To ascertain the Per Unit Market Price of a Replacement Contract with a term of one year or more, the Non-Defaulting Party shall use the Market Quotation Average Price; provided, however, that if there is an actively traded market for such Replacement Contract or if the Non-Defaulting Party is unable to obtain reliable quotations from at least three (3) Reference Market-makers, the Non-Defaulting Party shall use the methodology set forth in paragraph (b).
(d) In no event, however, shall a party's Market Value or Costs include any penalties, ratcheted demand charges or similar charges imposed by the Non-Defaulting Party. If the Defaulting Party disagrees with the calculation of the Termina...
Termination Payment Calculations. The Non-Defaulting Party shall calculate the Termination Payment as follows:
(a) Market Value shall be (i) in the case the Department is the Non-Defaulting Party, the present value, calculated using a discounted cash flow model, of the positive difference, if any, of (A) payments under a Replacement Contract based on the Per Unit Market Price, and (B) payments under this Agreement; or (ii) in the case the Seller is the Non-Defaulting Party, the present value, calculated using a discounted cash flow model, of the positive difference, if any, of (A) payments under this Agreement, and (B) payments under a Replacement Contract (if any) based on the Per Unit Market Price, in each case using the Present Value Rate as of the time of termination (to take account of the period between the time notice of termination was effective and when such amount would have otherwise been due pursuant to the relevant transaction). The “Present Value Discount Rate” shall mean the sum of 0.50% plus the yield reported on page “USD” of the Bloomberg Financial Markets Services Screen (or, if not available, any other nationally recognized trading screen reporting on-line intraday trading in United States government securities) at 11:00 a.m. (New York City, New York time) for the United States government securities having a maturity that matches, as closely as possible, the average remaining term of this Agreement. It is expressly agreed that the Non-Defaulting Party shall not be required to enter into a Replacement Contract in order to determine the Termination Payment.
Termination Payment Calculations. The Non-Defaulting Party shall calculate, and shall be entitled to receive from the Defaulting Party, the Termination Payment as follows:
(a) Market Value shall be:
(i) in the case Buyer is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) payments under a Replacement Contract based on the Per Unit Market Price, and (B) all payments owed by Seller to Buyer under this Master Agreement and the Amended and Restated Confirmation Agreement; or
(ii) in the case Seller is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) all payments owed by Buyer to Seller under this Master Agreement and the Amended and Restated Confirmation Agreement, and (B) payments under a Replacement Contract based on the Per Unit Market Price, in each case using the Present Value Rate as of the time of termination (to take account of the period between the time notice of termination was effective and when such amount would have otherwise been due pursuant to the relevant transaction).
Termination Payment Calculations. The Non-Defaulting Party shall calculate the Termination Payment as follows:
(a) Market Value shall be (i) in the case Party B is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) payments under a Replacement Contract based on the Per Unit Market Price, and (B) payments under this Agreement, or (ii) in the case Party A is the Non-Defaulting Party, the present value of the positive difference, if any, of (A) payments under this Agreement, and (B) payments under a Replacement Contract based on the Per Unit Market Price, in each case using the Present Value Rate as of the time of termination (to take account of the period between the time notice of termination was effective and when such amount would have otherwise been due pursuant to the relevant transaction). The "Present Value Rate" shall mean the sum of 0.50% plus the yield reported on page "USD" of the Bloomberg Financial Markets Services Screen (or, if not available, any other nationally recognized trading screen reporting on-line intraday trading in United States government securities) at 11:00 a.m. (New York City, New York time) for the United States government securities having a maturity that matches the average remaining term of this Agreement. It is expressly agreed that the Non-Defaulting Party shall not be required to enter into a Replacement Contract in order to determine the Termination Payment.
Termination Payment Calculations. (a) The Termination Payment shall be an amount equal to the sum of: (i) the Market Value and (ii) the Costs. The term “Market Value” shall mean: (a) in the case Party B is the Non-Defaulting Party, the present value of the positive differences, if any of (1) payments under a Replacement Contract based on the Per Unit Market Price and (2) payments under this Agreement; and (b) in the case Party A is the Non-Defaulting Party, the present value of the positive differences, if any of (1) payments under this Agreement and (2) payments under a Replacement Contract based on the Per Unit Market Price, in each case using the Present Value Rate (as hereinafter defined) as of the time of termination (to take account of the period between the time notice of termination was effective and when such amount would have otherwise been due pursuant to the relevant Transaction). For purposes hereof, the term “Present Value Rate” shall mean the sum of: (i) 0.50% and (ii) the yield reported on page “USD” of the Bloomberg Financial Markets Services Screen (or, if not available, any other nationally recognized trading screen reporting on-line intraday trading in United States government securities) at 11:00 a.m. (New York City, New York time) for the United States government securities having a maturity that matches the average remaining term of this Agreement. It is expressly agreed that the Non-Defaulting Party shall not be required to enter into a Replacement Contract in order to determine the Termination Payment.