Common use of Prepayment Facility Clause in Contracts

Prepayment Facility. 2.1 Subject to the terms of this Agreement, Buyer agrees to pre-pay part of the Purchase Price for Crude to be supplied by Seller under the Crude Supply Contract by way of Prepayment(s), each in an aggregate amount not less than one million US Dollars (USD1,000,000) and not exceeding in aggregate the Prepayment Limit. Subject to Clause 4.2 (Completion of the Prepayment Request), the Prepayments shall be used by Seller to expand production of the Cakran, Gorisht, Ballsh and Delvina Field projects and for no other purpose save with the prior written consent of Buyer. 2.2 Buyer shall be under no obligation to monitor or verify how Seller uses the Prepayments.