Common use of COMMITMENT AND TERM Clause in Contracts

COMMITMENT AND TERM. Subject to the terms and conditions of this Agreement, the Seller shall sell and the Purchaser shall purchase and accept in rail cars at the Purchaser's Chalk Point, Dick▇▇▇▇▇ ▇▇▇/or Morgantown Generating Stations coal meeting the quality specifications set forth in Article 2. (a) The term of this Agreement shall be one (1) year, commencing on January 1, 1999 and ending at midnight December 31, 1999, unless terminated sooner, as set forth in this Agreement, or otherwise extended at the sole unilateral option of the Purchaser as set forth in Subsection (b).