Planned Turnaround definition

Planned Turnaround means any planned temporary termination of production by either Seller or Buyer for planned or mandatory maintenance of facilities necessary for the performance of either Party´s obligations under this Agreement.
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Examples of Planned Turnaround in a sentence

  • SELLER shall use all reasonable efforts to ensure that the amount of any such annual adjustment shall not be applied solely to the monthly nominations falling during the period of the Planned Turnaround but shall be applied pro-rata among all the monthly nominations of the relevant Year, other than effected by the Planned Turnaround, to ensure a reasonable level of continuity of supply of Product to PURCHASER.

  • A Party incurring a Planned Turnaround may at its option, by giving notice no later than on the date on which the Second Nomination (as defined in clause 4.2) is given, be released from its supply or off-take obligations (as the case may be) during the period of the Planned Turnaround following which the total amount of the First Nomination (as defined in clause 4.1) or Second Nomination (as the case may be) shall be adjusted by the amount of supply or off-take release.

  • The Parties have agreed to amend the Agreement to: (1) postpone the start date of the first Planned Turnaround under the Agreement from the second half of 2021 until July of 2022; and (2) for ▇▇▇▇▇▇ to assume certain Coffeyville Resources obligations under Exhibit B to the Agreement, which is deleted and replaced as set forth herein.

  • A Party incurring a Planned Turnaround may at its option, by giving notice no later than on the date on which the Second Nomination (as defined in clause 4.2) is given, be released from its supply or off-take obligations (as the case may be) under this Agreement during the period of the Planned Turnaround following which the total amount of the First Nomination (as defined in clause 4.1) or Second Nomination (as the case may be) shall be adjusted by the amount of supply or off-take release.

  • On or before June 30th of each Year, Buyer shall nominate the volume of Product to be supplied and purchased under this Agreement in the following year (the “First Nomination”) having due regard to the relevant volume range set out in clause 2 and specifying the time of any Planned Turnaround.

  • Each party shall notify the other of any Planned Turnaround as soon as possible and, in any event, with a minimum of twelve Months’ written notice given prior to the proposed date of commencement of the Planned Turnaround.

  • Seller shall use all reasonable efforts to ensure that the amount of any such annual adjustment shall not be applied solely to the monthly nominations falling during the period of the Planned Turnaround but shall be applied pro-rata among the all monthly nominations of the relevant Year, which are not effected by such Planned Turnaround, to ensure a reasonable level of continuity of supply of Product to Buyer.