Common use of Commercial Services Actions Clause in Contracts

Commercial Services Actions. Seller: (i) shall perform its duties in both a reasonable and prudent manner; (ii) shall act as a principal in the market in front of third parties for purchases and sales of Oil and Feedstock under this Agreement; (iii) shall be the only face to market for the execution of all Commercial Services; (iv) shall use reasonable efforts to secure optimal pricing of the Oil and Feedstock purchased or sold under this Agreement and to minimize delivery-related costs for Oil and Feedstock purchased under the Execution Method; (v) shall allocate the necessary resources to support and to interface with Buyer in the provision of the Commercial Services hereunder; (vi) may enter into commercial commitments with third parties in connection with the performance of the Commercial Services, with all commercial terms being agreed to at its reasonable sole discretion, in line with Buyer’s mandate; (vii) may conduct any re-sale of any Oil and Feedstock purchased as part of this Agreement in line with its credit control procedures in effect at the time of such disposal. The costs of a third party credit default under such re-sale of Oil and Feedstock shall be for Buyer’s account unless caused by the gross negligence or willful misconduct of Seller.

Commercial Services Actions. Seller: (i) shall perform its duties in both a reasonable and prudent manner; (ii) shall act as a principal in the market in front of third parties for purchases and sales of Oil and Feedstock under this Agreement; (iii) shall be the only face to market for the execution of all Commercial Services; (iv) shall use reasonable efforts to secure optimal pricing of the Oil and Feedstock purchased or sold under this Agreement and to minimize delivery-related costs for Oil and Feedstock purchased under the Execution Method; (v) shall allocate the necessary resources to support and to interface with Buyer in the provision of the Commercial Services hereunder; (vi) may enter into commercial commitments with third parties in connection with the performance of the Commercial Services, with all commercial terms being agreed to at its reasonable sole discretion, in line with Buyer’s mandate; (vii) may conduct any re-sale of any Oil and Feedstock purchased as part of this Agreement in line with its credit control procedures in effect at the time of such disposal. The costs of a third party credit default under such re-sale of Oil and Feedstock shall be for Buyer’s account unless caused by the gross negligence or willful misconduct of Seller.