Biodiesel Blenders Tax Credit Adjustment Sample Clauses

Biodiesel Blenders Tax Credit Adjustment. The Purchase Price as determined above shall be reduced or increased by $.0014 per pound of Corn Oil for each $.01 per gallon reduction or increase in the Federal Biodiesel Blenders Tax Credit as set forth in IRS Code Section 40A, and further described in IRS Notice 2005-4 and IRS Notice 2005-62. If the Purchase Price for the Corn Oil is less than $0.240 per pound at any time hereunder as a result of a reduction or discontinuation of the Federal Biodiesel Blenders Tax Credit, Seller shall have the right, upon two (2) days notice to Soy Energy, to sell the Corn Oil on the open market or otherwise to a third party purchaser, at a price greater than the Purchase Price calculated hereunder. Notwithstanding such right, Soy Energy shall then have the right of first refusal, during such two (2) day notice period, to inform Seller that Soy Energy shall purchase such Corn Oil pursuant to terms and conditions of this Agreement, except that the Purchase Price shall then be the purchase price available to Seller on the open market or otherwise from the third party purchaser.
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Biodiesel Blenders Tax Credit Adjustment. The Parties agree that the Purchase Price as determined above may be re-negotiated, upon written notice by either Party to the other Party, if there is a reduction or increase in the Federal Biodiesel Blenders Tax Credit as set forth in IRS Code Section 40A, and further described in IRS Notice 2005-4 and IRS Notice 2005-62, or any other material amendment or change to such Federal Biodiesel Blenders Tax Credit. If a Party provides such written notice to the other Party and the Parties are unable to agree upon a change in the Purchase Price, either Party may terminate this Agreement upon fourteen (14) days’ written notice to the other Party.
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Related to Biodiesel Blenders Tax Credit Adjustment

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