Common use of Key Contracts Clause in Contracts

Key Contracts. The Company has delivered to the Administrative Agent true, correct and complete copies of the Key Contracts as in effect on the date hereof, including in each case all amendments thereto, assignments thereof and waivers of any Material Terms thereof. Each of the Crude Supply Agreement and the Supplemental Crude Supply Agreement has been duly authorized, executed and delivered by the Company. The CRCCLP Crude Supply Agreement has been duly authorized, executed and delivered by CRCCLP. Each of the Key Contracts has been duly authorized, executed and delivered by the parties thereto that are Affiliates of the Company and, to the best knowledge of the Company, the other parties thereto, and is in full force and effect in all material respects. To the best knowledge of the Company, no event has occurred and is continuing which would constitute, or with the giving of notice or lapse of time or both would constitute, an event of default on the part of the Company, CRCCLP, CIVESCO or Petroleos under the Key Contracts or would give any Person the right to terminate or to modify the terms of any thereof in a manner which would reasonably be expected to have a Material Adverse Effect.