Roll Over. (i) If Bayer PO LP is curtailed under this Section 11.01 for Disruption Events not resulting from Force Majeure such that Bayer PO LP does not receive in any year its Bayer PO Annual Offtake Amount by reason of such curtailment (Bayer PO LP's PO that is so curtailed is called herein "Bayer Non-FM Curtailed Equity PO"), then Bayer PO LP -------------------------------- shall be entitled to add an amount equal to the Bayer Non-FM Curtailed Equity PO, up to 100 million pounds, to its nominations for the next year under Section 8.1(a) of the PO Partnership Agreement and such added amount shall be deemed to be part of the Bayer PO Annual Offtake Amount for the following year. (ii) If Bayer PO LP does not receive in such year the full amount of the Bayer Non-FM Curtailed Equity PO of the prior year by reason of Disruption Events not caused by Forced Majeure, then Bayer PO LP shall be entitled to add the shortfall, up to 100 million pounds, to its nominations for the next year under Section 8.1(a) of the PO Partnership Agreement, as provided in Section 11.01(g)(i) above. In no event shall Bayer PO LP be entitled to carry forward in its nominations under this Section 11.01(g) any Bayer Non-FM Curtailed Equity PO for more than two years. In making such calculations, the Bayer Non-FM Curtailed Equity PO that is carried forward from the first or second preceding year shall be deemed curtailed first before any curtailment of the Bayer PO Annual Offtake Amount for the then current year, and if there is Non-FM Curtailed Equity PO that is carried forward for both the first and second preceding year, then the Bayer Non-FM Curtailed Equity PO for the second preceding year shall be deemed curtailed first and the Bayer Non-FM Curtailed Equity PO for the preceding year shall be curtailed next before any curtailment of the Bayer PO Annual Offtake Amount for the then current year. (iii) Because the final Bayer Non-FM Curtailed Equity PO for a year will not be known at the time of Bayer PO LP's nominations under Section 8.1(a) of the PO Partnership Agreement, the Annual Plan under the PO Partnership Agreement will be adjusted to include Bayer PO LP's nominations for the actual Bayer Non-FM Curtailed Equity PO of the prior year at the time the final figure is determined, subject to the provisions and limitations of this Section 11.01(g).
Appears in 1 contract
Sources: Master Transaction Agreement (Lyondell Chemical Co)
Roll Over. (i) If Bayer PO LP is curtailed under this Section 11.01 for Disruption Events not resulting from Force Majeure such that Bayer PO LP does not receive in any year its Bayer PO Annual Offtake Amount by reason of such curtailment (Bayer PO LP's PO that is so curtailed is called herein "Bayer Non-FM Curtailed Equity PO"), then Bayer PO LP -------------------------------- shall be entitled to add an amount equal to the Bayer Non-FM Curtailed Equity PO, up to 100 million pounds, to its nominations for the next year under Section 8.1(a) of the PO Partnership Agreement and such added amount shall be deemed to be part of the Bayer PO Annual Offtake Amount for the following year.
(ii) If Bayer PO LP does not receive in such year the full amount of the Bayer Non-FM Curtailed Equity PO of the prior year by reason of Disruption Events not caused by Forced Majeure, then Bayer PO LP shall be entitled to add the shortfall, up to 100 million pounds, to its nominations for the next year under Section 8.1(a) of the PO Partnership Agreement, as provided in Section 11.01(g)(i) above. In no event shall Bayer PO LP be entitled to carry forward in its nominations under this Section 11.01(g) any Bayer Non-FM Curtailed Equity PO for more than two years. In making such calculations, the Bayer Non-FM Curtailed Equity PO that is carried forward from the first or second preceding year shall be deemed curtailed first before any curtailment of the Bayer PO Annual Offtake Amount for the then current year, and if there is Non-FM Curtailed Equity PO that is carried forward for both the first and second preceding year, then the Bayer Non-FM Curtailed Equity PO for the second preceding year shall be deemed curtailed first and the Bayer Non-FM Curtailed Equity PO for the preceding year shall be curtailed next before any curtailment of the Bayer PO Annual Offtake Amount for the then current year.
(iii) Because the final Bayer Non-FM Curtailed Equity PO for a year will not be known at the time of Bayer PO LP's nominations under Section 8.1(a) of the PO Partnership Agreement, the Annual Plan under the PO Partnership Agreement will be adjusted to include Bayer PO LP's nominations for the actual Bayer Non-FM Curtailed Equity PO of the prior year at the time the final figure is determined, subject to the provisions and limitations of this Section 11.01(g).
Appears in 1 contract
Sources: Master Transaction Agreement (Lyondell Chemical Co)