Cover Standard

Example Definitions of "Cover Standard"
Cover Standard. Means that if there is an unexcused failure to deliver or to receive any quantity of Gas that is to be sold and purchased hereunder on a Firm basis, then the non-failing Party shall use commercially reasonable efforts to: (A) if Buyer is the non-failing Party, obtain Gas from a third party (or an alternate fuel, or alternate electricity, in either case as elected by Buyer when replacement Gas is not available), or (B) if Seller is the non-failing Party, sell Gas to a third party, in either... case, at a price reasonable for the delivery or production area, as applicable, consistent with: (i) the amount of notice provided by the non-performing Party; (2) the immediacy of the Buyer's Gas consumption needs or Seller's Gas sales requirements, as applicable; (3) the quantities involved; and (4) the anticipated length of failure by the non-performing Party. View More
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