Common use of New Items Clause in Contracts

New Items. Vitol and BKRF may from time to time consult with each other and pursue opportunities for the purchase, processing, or production of feedstock, products, or renewable attributes that do not as of the Effective Date constitute Feedstock, Product, or Renewable Attributes (“New Items”), using the following approval process set forth in this Section 2.4 (the “Approval Process”) or any other agreed upon process. If a Party seeking to add a New Item to the Feedstock, Products, or Renewable Attributes contemplated by this Agreement (such Party, the “Requesting Party”) provides notice to the other Party detailing (a) the New Item proposed to be purchased, processed or produced and/or issued or qualified under any Applicable Law or Pathway, including, as applicable, the specifications for the New Item, (b) as applicable, the use to be made by the Requesting Party of the New Item or the New Item to be processed or produced at the Project, (c) as applicable, the Applicable Law or Pathway applicable to the New Item and (d) a forecast setting forth the Requesting Party’s best estimate of the quantity of any such New Item expected to be purchased, processed or produced and/or issued or qualified during the subsequent twelve (12) month period if approved by the other Party (such notice, a “Proposal Notice”), then the other Party agrees to consider and consult with the Requesting Party in good faith regarding the applicable New Item. The Party receiving the Proposal Notice shall notify the Requesting Party within thirty (30) days following its receipt of the Proposal Notice of its approval or denial (made in its sole discretion) of the New Item (such notice, a “Response Notice”); provided that failure to timely provide a Response Notice shall not be deemed a breach of such Party’s obligations under this Agreement or an approval of such New Item. If the Parties agree in writing to add any New Item (whether pursuant to the Approval Process or otherwise), the Parties shall thereafter amend this Agreement as necessary to accommodate such New Item.