Common use of Trading Principles Clause in Contracts

Trading Principles. 2.1 With regard to all the products and services hereunder, the particular parties may otherwise enter into relevant contracts in accordance with the scope provided herein. The particular parties refer to CNOOC, the Company and their respective associates. The Parties agree that such relevant contracts shall be executed based on the following general principles: · The products and services thereunder shall be satisfactory to the other Party; · The products and services thereunder shall be provided on an fair and reasonable price basis; · The products and services thereunder shall be provided by CNOOC to the Company in accordance with such terms and conditions as are more favorable than those offered by an independent third party; and · The products and services thereunder shall be provided by the Company to CNOOC on the terms and conditions no less favorable than those available to an independent third party.

Trading Principles. 2.1 With regard to all the products and services hereunder, the particular parties may otherwise enter into relevant contracts in accordance with the scope provided herein. The particular parties refer to CNOOC, the Company and their respective associates. The Parties agree that such relevant contracts shall be executed based on the following general principles: · o The products and services thereunder shall be satisfactory to the other Party; · o The products and services thereunder shall be provided on an fair and reasonable price basis; · o The products and services thereunder shall be provided by CNOOC to the Company in accordance with such terms and conditions as are more favorable than those offered by an independent third party; and · o The products and services thereunder shall be provided by the Company to CNOOC on the terms and conditions no less favorable than those available to an independent third party.