Common use of Program License Agreement Clause in Contracts

Program License Agreement. Seller and Company shall enter into a -------------------------- personal, nonexclusive, royalty-free license agreement with a term ending three years from the Closing Date whereby Seller shall license Company to use, solely in the conduct of the Business at locations to be specified, Seller's proprietary software program which supports the petroleum products and financial products trading and transportation activities of the Business, including monitoring and managing price risk, product delivery and credit risk and processing transactions (the "Program"). Such agreement shall include a ------- representation that Seller has implemented a comprehensive, detailed program to analyze and address the risk that the Program may be unable to recognize and properly execute date-sensitive functions involving certain dates prior to and any dates after December 31, 1999 (the "Year 2000 Problem") and a covenant that ----------------- Seller will use its commercially reasonable best efforts to remedy any such Year 2000 Problem on or before September 30, 1999. Such agreement shall not require Seller to provide any support services of any kind to the Company with respect to the Program other than the provision of any upgrade to the Program developed by Seller to address the Year 2000 Problem. Such agreement shall contain other commercially reasonable terms appropriate to a software license agreement acceptable to Buyer and Seller.

Program License Agreement. Seller and Company shall enter into a -------------------------- personal, nonexclusive, royalty-free license agreement with a term ending three years from the Closing Date whereby Seller shall license Company to use, solely in the conduct of the Business at locations to be specified, Seller's proprietary software program which supports the petroleum products and financial products trading and transportation activities of the Business, including monitoring and managing price risk, product delivery and credit risk and processing transactions (the "Program"). Such agreement shall include a ------- representation that Seller has implemented a comprehensive, detailed program to analyze and address the risk that the Program may be unable to recognize and properly execute date-sensitive functions involving certain dates prior to and any dates after December 31, 1999 (the "Year 2000 Problem") and a covenant that ----------------- Seller will use its commercially reasonable best efforts to remedy any such Year 2000 Problem on or before September 30, 1999. Such agreement shall not require Seller to provide any support services of any kind to the Company with respect to the Program other than the provision of any upgrade to the Program developed by Seller to address the Year 2000 Problem. Such agreement shall contain other commercially reasonable terms appropriate to a software license agreement acceptable to Buyer and Seller.