Shortfall Market Price

Example Definitions of "Shortfall Market Price"
Shortfall Market Price. The price per metric tonne calculated as the arithmetic average of the monthly prices for Emissions Credits in the public market for Emissions Credits during the twelve (12) months immediately preceding the end of the Option Term. In the event a public market has not been established by the end of the Option Term, the Shortfall Market Price shall mean a reasonable price per metric tonne as determined by an independent expert agreed to by the parties or failing agreement appointed at the request... of either party by the President for the time being of the American Arbitration Association, all costs associated with such appointment and determination to be borne by the parties in equal shares. Notwithstanding anything herein to the contrary, the Shortfall Market Price shall not exceed US$30 per metric tonne. View More
All Definitions