Claims for damages for repudiation

(A) In general Except as otherwise provided in subparagraph (C) and paragraphs (4), (5), and (6), the liability of the conservator or receiver for the disaffirmance or repudiation of any contract pursuant to paragraph (1) shall be— (i) limited to actual direct compensatory damages; and (ii) determined as of— (I) the date of the appointment of the conservator or receiver; or (II) in the case of any contract or agreement referred to in paragraph (8), the date of the disaffirmance or repudiation of such contract or agreement.

(B) No liability for other damages For purposes of subparagraph (A), the term “actual direct compensatory damages” does not include— (i) punitive or exemplary damages; (ii) damages for lost profits or opportunity; or (iii) damages for pain and suffering.

(C) Measure of damages for repudiation of financial contracts In the case of any qualified financial contract or agreement to which paragraph (8) applies, compensatory damages shall be— (i) deemed to include normal and reasonable costs of cover or other reasonable measures of damages utilized in the industries for such contract and agreement claims; and (ii) paid in accordance with this subsection and subsection (i) except as otherwise specifically provided in this section.