Common use of Quantity Clause in Contracts

Quantity. Subject to the provisions herein including without limitation the volume limitations set forth below, Seller shall Ratably deliver and sell to Buyer at the Delivery Point and Buyer shall accept and purchase from Seller at the Delivery Point, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to be up to ** Barrels per Day (the "Maximum Production"). Buyer shall accept the NGL's tendered by Seller pursuant to this Agreement at volumes up to the Maximum Production; provided, however, Buyer shall have the right to not accept any NGL's in excess of the Maximum Production upon providing notice of such to Seller. Should Buyer decline acceptance of any such excess volumes above the Maximum Production, then Seller shall be released from the terms and conditions of this Agreement with regard to such excess volumes which have been declined by Buyer and Seller may sell, construct its own facilities or contract for the handling or disposition of such declined excess volumes to third parties or otherwise, as Seller deems appropriate. ** beginning on the Effective Date or an anniversary thereof, Seller fails to deliver an average of at least ** percent (**%) of the then-effective Maximum Production from the Plant, then Buyer shall have the right, within sixty (60) Days **, by providing written notice to Seller, to reduce the then-effective Maximum Production for the Plant to a number of Barrels per Day equal to the average daily volume of NGL's actually delivered from the Plant **. Such reduction shall be effective as of the date of Buyer's notice. For purposes of calculating the ** during any such ** during such period on which either of the following conditions occur shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If the volume of the Owned and Controlled NGL's available to be delivered hereunder from the Plant increases to a level which is in excess of the then-effective Maximum Production for such Plant, then Seller may request an increase in the then-effective Maximum Production to the volume of Owned NGL's and Controlled NGL's that Seller estimates to be available from such Plant, which such request must be in writing and detail the basis for the increase or anticipated increase in volume. Buyer shall respond, in writing, to Seller's request within thirty (30) Days of Buyer's receipt of Seller's request. If Buyer declines to increase the then-effective Maximum Production for the Plant, then the volume of Owned NGL's and/or Controlled NGL's which is in excess of the then-effective Maximum Production for such Plant shall be permanently released from this Agreement, and Seller shall be free to dispose of such excess NGL's in any manner deemed appropriate by Seller.

Appears in 2 contracts

Samples: Gas Liouids Purchase Agreement, Liquids Purchase Agreement (Markwest Energy Partners L P)

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Quantity. Subject to the provisions herein including without limitation the volume terms, conditions and limitations set forth belowcontained herein, Seller shall Ratably deliver and sell XTO agrees to Buyer deliver, or cause to be delivered to ETF at the Delivery Point Points of Receipt, as listed on Exhibit “A”, and Buyer shall accept ETF agrees to accept, or cause to be accepted, on a Firm basis those daily quantities of XTO’s Gas scheduled in accordance with Section 2 and purchase from Seller listed on Exhibit “C” and tendered daily at the Delivery Point, all Points of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to be up to ** Barrels per Day (the "Maximum Production"). Buyer shall accept the NGL's tendered by Seller pursuant to this Agreement at volumes Receipt up to the Maximum ProductionReserved Capacity, and such additional volumes as XTO may deliver on an interruptible basis as may be mutually agreed by the Parties; provided, however, Buyer in no event shall have the right to not accept XTO tender volumes of Gas for transportation hereunder on any NGL's Day in excess of the Maximum Production upon providing notice volumes of such to Sellertransport Gas that XTO can utilize at the Points of Delivery each Day. Should Buyer decline acceptance of any such excess volumes above the Maximum Production, then Seller shall be released from the terms and conditions of this Agreement with regard to such excess volumes which have been declined by Buyer and Seller may sell, construct its own facilities or contract for the handling or disposition of such declined excess volumes to third parties or otherwise, as Seller deems appropriate. ** beginning on the Effective Date or an anniversary thereof, Seller fails to deliver an average of at least ** percent (**%) of the then-effective Maximum Production from the Plant, then Buyer shall have the right, within sixty (60) Days **, by providing written notice to Seller, to reduce the then-effective Maximum Production for the Plant to a number of Barrels per Day equal Subject to the average daily volume of NGL's actually delivered from the Plant **. Such reduction shall be effective as of the date of Buyer's notice. For purposes of calculating the ** during any such ** during such period on which either of the following terms, conditions occur shall be ** calculation of the ** during such Period: (i) the ** and limitations contained herein, XTO agrees to Buyer hereunder are ** accept, or (ii) the Plant was **. If the volume of the Owned and Controlled NGL's available cause to be delivered accepted, at the Points of Delivery, and ETF agrees to transport and redeliver, or cause to be transported and redelivered, on a firm basis all volumes received for transportation hereunder from up to the Plant increases to a level which is Reserved Capacity, and all volumes received on an interruptible basis for transportation hereunder in excess of the then-effective Maximum Production for such PlantReserved Capacity, then Seller may request an increase in the then-effective Maximum Production to the Points of Delivery a scheduled daily volume of Owned NGL's Gas, in terms of MMBtu, equal to the scheduled daily volume of Gas, in terms of MMBtu, delivered by or for the account of XTO at the Points of Receipt, less and Controlled NGL's except Retention Volumes. The Parties intend that Seller estimates the physical volumes actually received at the Points of Receipt and redelivered at the Points of Delivery will be equal, less and except Retention Volumes, as close as practicable, on an hourly and daily basis. Any difference between the actual total physical flow at the Points of Receipt and the total volume redelivered at the Points of Delivery is the “Operational Imbalance”. The Parties will use reasonable best efforts to minimize and/or eliminate the Operational Imbalance. In the event an operational imbalance or hourly fluctuations between receipts and deliveries is impacting ETF either operationally or economically, ETF shall notify XTO and request that XTO restrict, interrupt, or reduce its receipts or deliveries of Gas at the Points of Receipt or Points of Delivery, and direct XTO to make adjustments in its receipts or deliveries, in order to maintain a daily and hourly balance or to correct an imbalance. If XTO fails or refuses to make good faith efforts to follow any such request from ETF, ETF may, without liability hereunder, cease accepting or delivering Gas under this Agreement until the conditions causing the imbalance are corrected. The Parties agree that confirmed nominations scheduled to be available from such Plant, which such request must received and redelivered will occur as practicable at a uniform hourly rate or at an hourly rate mutually agreeable to the Parties. The mutually agreeable hourly rate will be communicated timely in writing and detail or by telephone between the basis for the increase or anticipated increase in volume. Buyer shall respond, in writing, to Seller's request within thirty (30) Days of Buyer's receipt of Seller's request. If Buyer declines to increase the then-effective Maximum Production for the Plant, then the volume of Owned NGL's and/or Controlled NGL's which is in excess of the then-effective Maximum Production for such Plant shall be permanently released from this Agreement, and Seller shall be free to dispose of such excess NGL's in any manner deemed appropriate by SellerParties.

Appears in 2 contracts

Samples: Transportation Agreement, Transportation Agreement (Xto Energy Inc)

Quantity. Subject to the provisions herein including without limitation the volume limitations set forth belowherein, Seller Pioneer shall Ratably deliver and sell to Buyer KHLP at the Delivery Point Points all of the NGL’s that Pioneer and Buyer its Affiliates Own or Control from the Bxxxxxx Plant and the Mxxxxxx Plant, such volume of NGL’s estimated to be 2,000 Barrels per Day and 6,800 Barrels per Day, respectively. Subject to the other provisions herein, KHLP shall accept and purchase NGL’s from Seller at the Delivery Point, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to be up to ** Barrels per Day (the "Maximum Production"). Buyer shall accept the NGL's tendered by Seller pursuant to Pioneer in accordance with this Agreement at volumes up to the Maximum ProductionAgreement; provided, however, Buyer KHLP shall have the right to not accept any NGL's ’s in excess of the Maximum Estimated Production as specified above in this Section for each Plant upon providing notice of such to SellerPioneer. Should Buyer decline acceptance If, for any period of any such excess volumes above the Maximum Productionone hundred and eighty (180) consecutive Days (excluding periods of Force Majeure), then Seller shall be released from the terms and conditions of this Agreement with regard to such excess volumes which have been declined by Buyer and Seller may sell, construct its own facilities or contract for the handling or disposition of such declined excess volumes to third parties or otherwise, as Seller deems appropriate. ** beginning on the Effective Date or an anniversary thereof, Seller Pioneer fails to deliver an average of and sell to KHLP at least ** ninety percent (**90%) of the then-effective Maximum Estimated Production from each of the PlantPlants, then Buyer KHLP shall have the right, within sixty thirty (6030) Days **of such 180 consecutive Day period, by providing written notice to SellerPioneer, to reduce the then-effective Maximum Estimated Production for the Plant to a number of Barrels per Day equal with the deficiency to the average daily NGL’s volume of NGL's actually delivered and sold to KHLP from the such Plant **during such 180 consecutive Day period (excluding periods of Force Majeure). Such reduction shall is to be effective as of the date of Buyer's KHLP’s notice. For purposes of calculating the ** during any such ** during such period on which either of the following conditions occur shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If the volume of the Pioneer’s Owned NGL’s and Controlled NGL's ’s available to be delivered hereunder from the a Plant increases to a level which is in excess of the then-effective Maximum Estimated Production for such Plant, then Seller Pioneer may request an increase in the then-effective Maximum Estimated Production to the volume of Owned NGL's ’s and Controlled NGL's ’s that Seller Pioneer estimates to be available from such Plant, which such request must will be in writing and detail the basis for the increase or anticipated increase in volume. Buyer KHLP shall respond, in writing, to Seller's Pioneer’s request within thirty fifteen (3015) Days of Buyer's KHLP’s receipt of Seller's Pioneer’s request. If Buyer KHLP declines to increase the then-effective Maximum Estimated Production for the PlantPlant at issue, then the volume of Owned NGL's ’s and/or Controlled NGL's ’s which is in excess of the then-effective Maximum Estimated Production for such Plant shall be permanently released from this Agreement, and Seller Pioneer shall be free to dispose of such excess NGL's ’s from the Plant in any manner deemed appropriate by SellerPioneer.

Appears in 1 contract

Samples: Liquids Purchase Agreement (Pioneer Southwest Energy Partners L.P.)

Quantity. Subject Buyer shall purchase and receive from Seller and Seller shall sell and deliver to Buyer an amount equal to the provisions herein including without limitation Contract Quantity, as specified on the volume limitations cover page of this Agreement. A purchasing variance of ***plus or minus shall apply to the Monthly Volumes (as defined below) as set forth below, Seller shall Ratably deliver and sell to Buyer at the Delivery Point and Buyer shall accept and purchase from Seller at the Delivery Point, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to be up to ** Barrels per Day below (the "Maximum Production"“Purchasing Variance”). Buyer will designate quantities required at each Designated Location (as defined below) on a monthly basis (the “Monthly Volumes”). The initial schedule of Monthly Volumes is attached as Appendix A. Buyer shall accept purchase and receive from Seller and Seller shall sell and deliver to Buyer on a ratable basis each month an amount equal to the NGL's tendered by Monthly Volumes specified for each Designated Location for that month as further specified on Appendix A. A purchasing variance of *** plus or minus shall apply to each of the Monthly Volumes. Buyer may modify Monthly Volumes required at each Designated Location with *** days prior notice to Seller pursuant for good reason, provided that during the Term of this Agreement, the Buyer purchases and receives a total amount each month equal to the Monthly Volumes, plus or minus the Purchasing Variance and provided further that any change in the Monthly Volumes greater than *** is mutually agreed. Good reason shall include, but not be limited to, a sale of a Designated Location. Buyer’s desire to source biodiesel from another party shall not be considered a good reason. Notwithstanding any other provision of this Agreement, at any time after this Agreement at volumes up is executed or during the Term of this Agreement and any extensions thereof, in the event Buyer closes a Designated Location(s), ceases operation of a Designated Location(s) or transfers its ownership interest, whether fee or leasehold to the Maximum Production; provided, howevera third party, Buyer shall have be entitled to transfer the right volume associated with said Designated Location(s) to not accept any NGL's in excess another of Buyer’s locations, provided that such locations are within ***of Seller’s facilities. *** Confidential material redacted and filed separately with the Commission. If Buyer, fails to purchase from Seller, a total amount each month equal to the aggregate of the Maximum Production upon providing notice of such to Seller. Should Buyer decline acceptance of Monthly Volumes specified for each Designated Location for that month as specified on Appendix A, minus the aggregate Purchasing Variance *** minus any such excess volumes above the Maximum Productionassociated with new stores as noted in Appendix A, then Seller shall be released from the terms and conditions of this Agreement with regard to such excess volumes which have been declined by Buyer and Seller may sell, construct its own facilities or contract minus any closed Designated Locations for the handling or disposition of such declined excess volumes to third parties or otherwiseany reason other than Force Majeure, as Seller deems appropriate. ** beginning on the Effective Date or an anniversary thereof, Seller fails to deliver an average of at least ** percent (**%) of the then-effective Maximum Production from the Plantdefined below, then Buyer shall have breached this Agreement. Buyer shall have 60 days to mitigate breach caused by a shortfall month by increasing the rightblend percentage at existing Designated Locations or adding additional Designated Locations within *** of seller’s facilities. After said 60 day period, in addition to such other rights and remedies as may be available to Seller, Buyer shall, within sixty (60) Days *** days after ***of ***from ***the *** to *** by *** an *** to ***, on a ***, of ***that *** has *** In addition, the applicable Contract Quantity and applicable Monthly Volume shall be reduced by providing written notice the *** of *** that ***to Seller, to reduce the then-effective Maximum Production *** but *** for the Plant to a number of Barrels per Day equal ***to the average daily volume of NGL's actually delivered from the Plant ***. Such reduction shall be effective as of To the date of Buyer's notice. For purposes of calculating extent Seller secures ***to ***, the ** during any such ** during such period on which either will be *** by *** to *** for the ***the *** to *** for the *** that *** to ***the ***of *** that ***to ***to ***. To the following conditions occur *** for the *** the *** shall *** the *** and *** for *** shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If Upon mutual agreement between Buyer and Seller, the volume Contract Quantity specified on the cover page of the Owned and Controlled NGL's available to this Agreement can be delivered hereunder from the Plant increases to a level which is in excess of the then-effective Maximum Production for such Plant, then Seller may request an increase in the then-effective Maximum Production to the volume of Owned NGL's and Controlled NGL's that Seller estimates to be available from such Plant, which such request must be in writing and detail the basis for the increase further increased or anticipated increase in volume. Buyer shall respond, in writing, to Seller's request within thirty (30) Days of Buyer's receipt of Seller's request. If Buyer declines to increase the then-effective Maximum Production for the Plant, then the volume of Owned NGL's and/or Controlled NGL's which is in excess of the then-effective Maximum Production for such Plant shall be permanently released from this Agreement, and Seller shall be free to dispose of such excess NGL's in any manner deemed appropriate by Sellerdecreased.

Appears in 1 contract

Samples: LLC Biodiesel Purchase Agreement (Renewable Energy Group, Inc.)

Quantity. Subject Section 3.1 is amended to add the provisions herein including without limitation the volume limitations set forth below, following sentence: “Seller shall Ratably deliver deliver, and sell Buyer shall receive, the Contract Quantity each Day on a Firm basis. Seller’s Gas and the Existing Contracts Volume shall be delivered to Buyer at the Receipt Points for gathering on the Gathering System, and Seller’s Gas shall be purchased by Buyer at the Delivery Point Points, all as set forth herein. The Existing Contracts Volume shall be gathered, but not purchased, by Buyer hereunder. For purposes of clarity, the Contract Quantity shall include only Gas volumes attributable to the Committed Reserves and the Existing Contracts and Seller shall not deliver, and Buyer shall accept have no obligation to receive hereunder, any Gas volumes produced or owned by third parties, other than Gas produced by Seller and purchase from Seller at its Affiliates in xxxxx located on the Delivery Pointlands described in Exhibit A and the Existing Contracts Volume, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to which shall be up to ** Barrels per Day (the "Maximum Production")gathered, but not purchased, by Buyer hereunder. Buyer shall accept the NGL's tendered by Seller pursuant never be obligated to this Agreement at receive on any Day volumes up of Gas hereunder in excess of 30,000 Mcf’s per Day, as such maximum volume is allocated to each Receipt Point as shown in Exhibit B, except that Seller, prior to the Maximum Production; providedsecond anniversary of the Effective Date, however, Buyer shall have the right to not accept any NGL's deliver volumes to the Fonde Receipt Point in excess of the Maximum Production upon providing maximum volume shown in Exhibit B for such Receipt Point up to the lower of (x) the maximum available receipt capacity at such Fonde Receipt Point, or (y) a volume that when added to all volumes delivered by Seller at all Receipt Points does not exceed 30,000 Mcf’s per Day, by written notice of to Buyer. If Seller elects to deliver such additional volumes to Seller. Should Buyer decline acceptance of any such excess volumes above the Maximum ProductionFonde Receipt Point, then Seller shall be released from reduce (but not increase) the terms and conditions volumes delivered at one or more of this Agreement with regard to the other Receipt Points so that the total volumes delivered hereunder never exceed 30,000 Mcf’s per Day. Any such excess volumes which have been declined election by Buyer and Seller may sell, construct its own facilities or contract for shall remain in effect until the handling or disposition second anniversary of such declined excess volumes to third parties or otherwise, as Seller deems appropriate. ** beginning on the Effective Date or an and, for the term of the Contract, unless, prior to the second anniversary thereofof the Effective Date, Seller fails to deliver an average notifies Buyer of at least ** percent any additional increase (**%but not decrease) of in the then-effective Maximum Production from the Plant, then Buyer shall have the right, within sixty (60) Days **, by providing written notice to Seller, to reduce the then-effective Maximum Production for the Plant to a number of Barrels per Day equal to the average daily volume of NGL's actually delivered from the Plant **. Such reduction shall be effective as of the date of Buyer's notice. For purposes of calculating the ** during any such ** during such period on which either of the following conditions occur shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If the volume of the Owned and Controlled NGL's available volumes to be delivered hereunder from to the Plant increases Fonde Receipt Point (up to a level which is 30,000 Mcf’s per Day), and the corresponding reductions in excess the volumes delivered at one or more of the then-effective Maximum Production for such Plant, then other Receipt Points necessary to cause the total volumes delivered hereunder to never exceed 30,000 Mcf’s per Day. Such final election by Seller may request an increase shall remain in the then-effective Maximum Production to the volume of Owned NGL's and Controlled NGL's that Seller estimates to be available from such Plant, which such request must be in writing and detail the basis effect for the increase or anticipated increase in volume. Buyer shall respond, in writing, to Seller's request within thirty (30) Days remaining term of Buyer's receipt of Seller's request. If Buyer declines to increase the then-effective Maximum Production for the Plant, then the volume of Owned NGL's and/or Controlled NGL's which is in excess of the then-effective Maximum Production for such Plant shall be permanently released from this Agreement, and Seller shall be free to dispose of such excess NGL's in any manner deemed appropriate by Seller.” 3.

Appears in 1 contract

Samples: www.sec.gov

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Quantity. Subject Section 3.1 is amended to add the provisions herein including without limitation the volume limitations set forth below, following sentence: “Seller shall Ratably deliver deliver, and sell Buyer shall receive, the Contract Quantity each Day on a Firm basis. Seller’s Gas and the Existing Contracts Volume shall be delivered to Buyer at the Receipt Points for gathering on the Gathering System, and Seller’s Gas shall be purchased by Buyer at the Delivery Point Points, all as set forth herein. The Existing Contracts Volume shall be gathered, but not purchased, by Buyer hereunder. For purposes of clarity, the Contract Quantity shall include only Gas volumes attributable to the Committed Reserves and the Existing Contracts and Seller shall not deliver, and Buyer shall accept have no obligation to receive hereunder, any Gas volumes produced or owned by third parties, other than Gas produced by Seller and purchase from Seller at its Affiliates in xxxxx located on the Delivery Pointlands described in Exhibit A and the Existing Contracts Volume, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to which shall be up to ** Barrels per Day (the "Maximum Production")gathered, but not purchased, by Buyer hereunder. Buyer shall accept the NGL's tendered by Seller pursuant never be obligated to this Agreement at receive on any Day volumes up of Gas hereunder in excess of 30,000 Mcf’s per Day, as such maximum volume is allocated to each Receipt Point as shown in Exhibit B, except that Seller, prior to the Maximum Production; providedsecond anniversary of the Effective Date, however, Buyer shall have the right to not accept any NGL's deliver volumes to the Fonde Receipt Point in excess of the Maximum Production upon providing maximum volume shown in Exhibit B for such Receipt Point up to the lower of (x) the maximum available receipt capacity at such Fonde Receipt Point, or (y) a volume that when added to all volumes delivered by Seller at all Receipt Points does not exceed 30,000 Mcf’s per Day, by written notice of to Buyer. If Seller elects to deliver such additional volumes to Seller. Should Buyer decline acceptance of any such excess volumes above the Maximum ProductionFonde Receipt Point, then Seller shall be released from reduce (but not increase) the terms and conditions volumes delivered at one or more of this Agreement with regard to the other Receipt Points so that the total volumes delivered hereunder never exceed 30,000 Mcf’s per Day. Any such excess volumes which have been declined election by Buyer and Seller may sell, construct its own facilities or contract for shall remain in effect until the handling or disposition second anniversary of such declined excess volumes to third parties or otherwise, as Seller deems appropriate. ** beginning on the Effective Date or an and, for the term of the Contract, unless, prior to the second anniversary thereofof the Effective Date, Seller fails to deliver an average notifies Buyer of at least ** percent any additional increase (**%but not decrease) of in the then-effective Maximum Production from the Plant, then Buyer shall have the right, within sixty (60) Days **, by providing written notice to Seller, to reduce the then-effective Maximum Production for the Plant to a number of Barrels per Day equal to the average daily volume of NGL's actually delivered from the Plant **. Such reduction shall be effective as of the date of Buyer's notice. For purposes of calculating the ** during any such ** during such period on which either of the following conditions occur shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If the volume of the Owned and Controlled NGL's available volumes to be delivered hereunder from to the Plant increases Fonde Receipt Point (up to a level which is 30,000 Mcf’s per Day), and the corresponding reductions in excess the volumes delivered at one or more of the then-effective Maximum Production for such Plant, then other Receipt Points necessary to cause the total volumes delivered hereunder to never exceed 30,000 Mcf’s per Day. Such final election by Seller may request an increase shall remain in the then-effective Maximum Production to the volume of Owned NGL's and Controlled NGL's that Seller estimates to be available from such Plant, which such request must be in writing and detail the basis effect for the increase or anticipated increase in volume. Buyer shall respond, in writing, to Seller's request within thirty (30) Days remaining term of Buyer's receipt of Seller's request. If Buyer declines to increase the then-effective Maximum Production for the Plant, then the volume of Owned NGL's and/or Controlled NGL's which is in excess of the then-effective Maximum Production for such Plant shall be permanently released from this Agreement, and Seller shall be free to dispose of such excess NGL's in any manner deemed appropriate by Seller.

Appears in 1 contract

Samples: Contract for Sale and Purchase (NGAS Resources Inc)

Quantity. Subject to the provisions herein including without limitation the volume limitations set forth belowherein, Seller Pioneer shall Ratably deliver and sell to Buyer KHLP at the Delivery Point Points all of the NGL’s that Pioneer and Buyer its Affiliates Own or Control from the Xxxxxxx Plant and the Xxxxxxx Plant, such volume of NGL’s estimated to be 2,000 Barrels per Day and 6,800 Barrels per Day, respectively. Subject to the other provisions herein, KHLP shall accept and purchase NGL’s from Seller at the Delivery Point, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to be up to ** Barrels per Day (the "Maximum Production"). Buyer shall accept the NGL's tendered by Seller pursuant to Pioneer in accordance with this Agreement at volumes up to the Maximum ProductionAgreement; provided, however, Buyer KHLP shall have the right to not accept any NGL's ’s in excess of the Maximum Estimated Production as specified above in this Section for each Plant upon providing notice of such to SellerPioneer. Should Buyer decline acceptance If, for any period of any such excess volumes above the Maximum Productionone hundred and eighty (180) consecutive Days (excluding periods of Force Majeure), then Seller shall be released from the terms and conditions of this Agreement with regard to such excess volumes which have been declined by Buyer and Seller may sell, construct its own facilities or contract for the handling or disposition of such declined excess volumes to third parties or otherwise, as Seller deems appropriate. ** beginning on the Effective Date or an anniversary thereof, Seller Pioneer fails to deliver an average of and sell to KHLP at least ** ninety percent (**90%) of the then-effective Maximum Estimated Production from each of the PlantPlants, then Buyer KHLP shall have the right, within sixty thirty (6030) Days **of such 180 consecutive Day period, by providing written notice to SellerPioneer, to reduce the then-effective Maximum Estimated Production for the Plant to a number of Barrels per Day equal with the deficiency to the average daily NGL’s volume of NGL's actually delivered and sold to KHLP from the such Plant **during such 180 consecutive Day period (excluding periods of Force Majeure). Such reduction shall is to be effective as of the date of Buyer's KHLP’s notice. For purposes of calculating the ** during any such ** during such period on which either of the following conditions occur shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If the volume of the Pioneer’s Owned NGL’s and Controlled NGL's ’s available to be delivered hereunder from the a Plant increases to a level which is in excess of the then-effective Maximum Estimated Production for such Plant, then Seller Pioneer may request an increase in the then-effective Maximum Estimated Production to the volume of Owned NGL's ’s and Controlled NGL's ’s that Seller Pioneer estimates to be available from such Plant, which such request must will be in writing and detail the basis for the increase or anticipated increase in volume. Buyer KHLP shall respond, in writing, to Seller's Pioneer’s request within thirty fifteen (3015) Days of Buyer's KHLP’s receipt of Seller's Pioneer’s request. If Buyer KHLP declines to increase the then-effective Maximum Estimated Production for the PlantPlant at issue, then the volume of Owned NGL's ’s and/or Controlled NGL's ’s which is in excess of the then-effective Maximum Estimated Production for such Plant shall be permanently released from this Agreement, and Seller Pioneer shall be free to dispose of such excess NGL's ’s from the Plant in any manner deemed appropriate by SellerPioneer.

Appears in 1 contract

Samples: Liquids Purchase Agreement

Quantity. Subject Buyer shall purchase and receive from Seller and Seller shall sell and deliver to Buyer an amount equal to the provisions herein including without limitation Contract Quantity, as specified on the volume limitations cover page of this Agreement. A purchasing variance of *** plus or minus shall apply to the Monthly Volumes (as defined below) as set forth below, Seller shall Ratably deliver and sell to Buyer at the Delivery Point and Buyer shall accept and purchase from Seller at the Delivery Point, all of the NGUs extracted at the Plant that Seller Owns or Controls. Such volume of NGL's is estimated to be up to ** Barrels per Day below (the "Maximum Production"“Purchasing Variance”). Buyer will designate quantities required at each Designated Location (as defined below) on a monthly basis (the “Monthly Volumes”). The initial schedule of Monthly Volumes is attached as Appendix A. Buyer shall accept purchase and receive from Seller and Seller shall sell and deliver to Buyer *** each month an amount equal to the NGL's tendered by Monthly Volumes specified for each Designated Location for that month as further specified on Appendix A. A purchasing variance of *** plus or minus shall apply to each of the Monthly Volumes. Buyer may modify Monthly Volumes required at each Designated Location with *** days prior notice to Seller pursuant for good reason, provided that during the Term of this Agreement, the Buyer purchases and receives a total amount each month equal to the Monthly Volumes, plus or minus the Purchasing Variance and provided further that any change in the Monthly Volumes greater than *** is mutually agreed. Good reason shall include, but not be limited to, a sale of a Designated Location. Buyer’s desire to source biodiesel from another party shall not be considered a good reason. Notwithstanding any other provision of this Agreement, at any time after this Agreement at volumes up is executed or during the Term of this Agreement and any extensions thereof, in the event Buyer closes a Designated Location(s), ceases operation of a Designated Location(s) or transfers its ownership interest, whether fee or leasehold to the Maximum Production; provided, howevera third party, Buyer shall have be entitled to transfer the right volume associated with said Designated Location(s) to not accept any NGL's in excess another of Buyer’s locations, provided that such locations are within *** of Seller’s facilities. If Buyer, fails to purchase from Seller, a total amount each month equal to the aggregate of the Maximum Production upon providing notice of such to Seller. Should Buyer decline acceptance of any such excess volumes above the Maximum Production, then Seller shall be released from the terms and conditions of this Agreement Monthly Volumes specified for each Designated Location for that month as specified on Appendix ***Certain portions denoted with regard to such excess volumes which an asterisk have been declined by Buyer omitted and Seller may sellfiled separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. A, construct its own facilities or contract minus the aggregate Purchasing Variance ***, minus any volumes associated with new stores as noted in Appendix A, minus any closed Designated Locations for the handling or disposition of such declined excess volumes to third parties or otherwiseany reason other than Force Majeure, as Seller deems appropriate. ** beginning on the Effective Date or an anniversary thereof, Seller fails to deliver an average of at least ** percent (**%) of the then-effective Maximum Production from the Plantdefined below, then Buyer shall have breached this Agreement. Buyer shall have 60 days to mitigate breach caused by a shortfall month by increasing the rightblend percentage at existing Designated Locations or adding additional Designated Locations within *** of seller’s facilities. After said 60 day period, in addition to such other rights and remedies as may be available to Seller, Buyer shall, within sixty (60) Days *** days after *** of *** from *** the *** to *** by *** an *** to ***, by providing written notice to Selleron a ***, to reduce the then-effective Maximum Production for the Plant to a number of Barrels per Day equal to the average daily volume of NGL's actually delivered from the Plant *** that *** has ***. Such reduction In addition, the applicable Contract Quantity and applicable Monthly Volume shall be effective as of the date of Buyer's notice. For purposes of calculating reduced by the ** during any such ** during such period on which either of *** that *** to *** but *** for *** to the following conditions occur ***. To the extent Seller secures *** to ***, the *** will be *** by *** to *** for the *** the *** to *** for the *** that *** to *** the *** of *** that *** to *** to ***. To the extent *** for *** the *** shall *** the *** and *** for *** shall be ** calculation of the ** during such Period: (i) the ** to Buyer hereunder are ** or (ii) the Plant was **. If Upon mutual agreement between Buyer and Seller, the volume Contract Quantity specified on the cover page of the Owned and Controlled NGL's available to this Agreement can be delivered hereunder from the Plant increases to a level which is in excess of the then-effective Maximum Production for such Plant, then Seller may request an increase in the then-effective Maximum Production to the volume of Owned NGL's and Controlled NGL's that Seller estimates to be available from such Plant, which such request must be in writing and detail the basis for the increase further increased or anticipated increase in volume. Buyer shall respond, in writing, to Seller's request within thirty (30) Days of Buyer's receipt of Seller's request. If Buyer declines to increase the then-effective Maximum Production for the Plant, then the volume of Owned NGL's and/or Controlled NGL's which is in excess of the then-effective Maximum Production for such Plant shall be permanently released from this Agreement, and Seller shall be free to dispose of such excess NGL's in any manner deemed appropriate by Sellerdecreased.

Appears in 1 contract

Samples: Biodiesel Purchase Agreement (Renewable Energy Group, Inc.)

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