BPXP definition
Examples of BPXP in a sentence
Within five (5) days of execution of this Project Stipulation, the United States, acting through the United States Department of Justice, counsel representing those State Trustees who are parties in the Deepwater Horizon Oil Spill Multi- District Litigation (“MDL”), and BPXP shall file a notice of this Project Stipulation, for informational purposes only, with the MDL Court.
Except for the stipulated NRD Offsets and as set forth herein in Paragraph IV.E., this Project Stipulation does not operate to release BPXP from any potential natural resource damage or other liability, and the Trustees reserve all other claims against BPXP and/or other parties related to natural resource damage liability or any other liability arising from the Oil Spill.
Upon full payment of the amount specified in Paragraph II.A., BPXP shall be entitled to the NRD Offsets set forth in Appendix C.
Within thirty (30) days of receipt of the Trustees’ modified application of the NRD Offsets, BPXP may seek judicial review of the Trustees’ determination based solely on BPXP’s submission, any response or explanation provided by the Trustees, and the record of the NRDA and the NRD litigation.
BPXP waives the right to claim that the Early Restoration Project (or Replacement Project(s), if applicable) provides benefits to natural resources or services beyond those identified in Appendix C, or provides benefits to Trustees other than those identified in Appendix C.
The Trustees hereby covenant not to ▇▇▇ BPXP for claims for damages or injuries to or losses of natural resources resulting from the activities of the Trustees in implementing the Early Restoration Project or, if applicable, Replacement Project(s).
The Trustees shall provide BPXP notice of any proposed re-application of the NRD Offsets and an opportunity of no less than sixty (60) days to submit comments and any relevant information and supporting materials (“BPXP’s submission”).
BPXP reserves all claims, cross- claims or counterclaims it may have against any person or entity not a party to this Project Stipulation.
Any modification to this Project Stipulation shall be in writing signed by all Parties, except that (1) a non-material modification may be made in writing signed by the Affected Trustees, DOJ, and BPXP; and (2) the Implementing Trustee(s), DOJ, and BPXP may correct typographical or other non-substantive scriveners’ errors by substituting a corrected page for the page containing the error, with the Parties’ agreement to the correction(s) documented by exchange of e-mails or letters.
BPXP acknowledges and agrees on behalf of itself, all other BP Released Parties, and any insurer, reinsurer, indemnitor, subrogee, or assignee thereof, that it and they shall have no right to recover from any of the Anadarko Released Parties all or any portion of any payment made or rights assigned to Anadarko or any other Anadarko Released Party hereunder, at any time or under any theory whatsoever, whether legal, equitable, or otherwise.