Common use of Venting Clause in Contracts

Venting. In the event either (i) Coffeyville elects not to take any portion of Redelivered Volumes, or (ii) Coffeyville elects to take any portion of Redelivered Volumes, but as of the Redelivery Date, Coffeyville is not able to physically take the same, then in either event, Coffeyville will reduce its delivery of the Contract Volume to Chaparral by such portion of Redelivered Volumes by venting or otherwise releasing such volumes prior to the Title Transfer Point. Notwithstanding the foregoing, in the situation described in (ii) above, Coffeyville may begin taking such portion of Redelivered Volumes by providing at least five Days notice to Chaparral.

Appears in 2 contracts

Sources: Carbon Dioxide Purchase and Sale Agreement, Carbon Dioxide Purchase and Sale Agreement (Chaparral Energy, Inc.)