Common use of Adjustment Date Settlements Clause in Contracts

Adjustment Date Settlements. In connection with the adjustments contemplated hereunder to occur on and as of the Adjustment Date, ▇▇▇▇ shall determine in a commercially reasonable manner any payments required to be made by ▇▇▇▇ to the Transaction Entities or the Transaction Entities to ▇▇▇▇, as applicable, to compensate for the change in certain terms (including with respect to certain Schedules hereto) on and as of such Adjustment Date and, promptly after making such determination (or as otherwise provided herein), ▇▇▇▇ shall reflect all such payments and the net payment resulting therefrom in a statement required pursuant to Section 12.1.3, which shall be due from one Party or Parties to the other Party or Parties, in each case, as provided in this Section 12.9, or for amounts not covered under this Section 12.9, no later than the first (1st) Business Day following the date on which such statement is issued.

Appears in 2 contracts

Sources: Inventory Intermediation Agreement and Step Out Agreement (PBF Holding Co LLC), Inventory Intermediation Agreement (PBF Holding Co LLC)