Common use of Term Supply Clause in Contracts

Term Supply. The Parties expect that over time approximately [REDACTED]% of Oil Supplied to Buyer at the Refinery will be sourced from term agreements entered into by Seller. Buyer will use its reasonable efforts in support of Seller’s efforts to enter into such term agreements with counterparties. To the extent Seller is unable to enter into term agreements with specified counterparties or for specified Types or Grades, the Parties will work together to determine an appropriate arrangement for supply of the affected Type and Grade. If the Parties are able to enter an agreement with Saudi Arabian as to the terms of the Saudi Contract that is acceptable to each Party in their sole discretion, then it is anticipated that the Saudi Contract will be for approximately [REDACTED] of Arab [REDACTED] Crude (Type C).

Term Supply. The Parties expect that over time approximately [REDACTED]% of Oil Supplied to Buyer at the Refinery will be sourced from term agreements entered into by Seller. Buyer will use its reasonable efforts in support of Seller’s efforts to enter into such term agreements with counterparties. To the extent Seller is unable to enter into term agreements with specified counterparties or for specified Types or Grades, the Parties will work together to determine an appropriate arrangement for supply of the affected Type and Grade. If the Parties are able to enter an agreement with Saudi Arabian as to the terms of the Saudi Contract that is acceptable to each Party in their sole discretion, then it is anticipated that the Saudi Contract will be for approximately [REDACTED] of Arab [REDACTED] Light Crude (Type C).