Canpotex definition
Examples of Canpotex in a sentence
It is acknowledged that if such an event or series of related events occurs but no Owner Disaster Notice is given, any of the other Producers that reasonably believe such event(s) has or have caused a Disaster shall be entitled to give notice of such event(s) (a “Non-Owner Disaster Notice”) simultaneously to Canpotex, the Affected Producer and all other Producers.
The quantities of Potash which any Producer shall sell from time to time to purchasers for ultimate delivery to any destination in Canada or the United States and the prices and terms upon which Potash shall be sold to any such purchasers shall be determined individually and independently by each Producer without regard to the provisions of this Agreement or any Product Supply Agreement and without restriction by or consultation with Canpotex or any other Producer.
Canpotex shall without formality be deemed to have purchased the quantities of Potash set out in commitments communicated to or made part of Product Supply Agreements as and when title to such Potash passes to Canpotex.
If a Producer does not make objection to such annual statement on or before the time it is submitted to and accepted by the Canpotex Board of Directors, such statement shall be deemed to be final, conclusive and binding on such Producer.
Shipments of Potash shall be scheduled for supply by the Producer from time to time by Canpotex in accordance with the authority of the Board of Directors subject to the terms of this Agreement and such Product Supply Agreements, with title and risk of loss in respect of such Potash transferring unto and vesting with Canpotex when loaded free on board a common carrier at the Mine.
M-16.1, as amended, or as the same may be further amended or repealed, re-enacted or substituted from time to time, and the regulations promulgated thereunder, insofar as they apply to such operations under this Agreement and the obligations of Canpotex contained herein.
Such representatives and distributors shall be paid such commission or other fees as may be agreed upon between them and Canpotex in writing and the decision of the Board of Directors on all such matters shall be conclusive and binding upon each Producer.
Canpotex shall prepare or obtain invoices, consular documents and other papers relating to the shipment, and shall arrange for shipment on appropriate forms of charter parties, contracts of affreightment or other suitable arrangements, and for cargo marine insurance, if any, on appropriate forms in the name of and payable to Canpotex, and shall make payment of freight and insurance premiums when due, if applicable.
Upon approval by the Board of Directors of such proposed Operating Plan and Budget, which approval shall be by majority vote, Canpotex management shall make any necessary revisions in such resulting Basic Entitlements, and shall request a written commitment from each Producer to supply Potash to Canpotex for the Fiscal Year in question in amounts corresponding to each Producer’s respective Basic Entitlement.
This Agreement shall not be construed to be in any respect a partnership between any Producer and the other Producers or between any of the Producers and Canpotex, and this Agreement shall not constitute Canpotex the agent of any of the Producers, or any of the Producers the agent of Canpotex for any purpose.