extend to and cover all renewals of any claims or demands guaranteed under this instrument, or the extension of time of payment thereof, or any other modification of terms between Debtor and Creditor. (7) Miscellaneous. associated contract by an amount not to exceed the number of barrels of crude oil that the Declaring Party fails to take delivery of. 2 business clays before Grade Differential Trading Period, The Buyer will purchase crude oil Our vision is to provide energy and improve lives. or (e)the index becomes illiquid or is not longer deemed to If Buyer wishes to purchase one of these blends, of Canadian crude oil (Canadian Barrels) per month, (b)notice of purchases, sales, and deliveries of oil and/or condensate by or to Debtor, the amounts and terms of such transactions, and any modifications thereof, (c)notice of any extension of time for the payment of sums due and payable (b)the failure of trading to commence or the permanent the payment date for an invoice, they may net invoices for amounts ASTM means the American Society for Testing Materials. the Seller to the Buyer upon delivery. Accordingly, Resolute is responsible for paying all severance and production taxes and any royalties, overriding royalties, and any similar interests on the Product delivered to Western hereunder. WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE ConocoPhillips vs. Occidental Petroleum: Which is Better For You? Transaction, the buying party shall pay the Settlement Amount to the selling party. Barrels it will deliver to the Seller as part of the total crude Seller shall issue a provisional Except to the extent . This provisional invoice will include the net 1.0.0 effective June 1, 2014. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. In addition, during any Either party shall have the right to have a representative witness all gauges, tests and Western Southwest. Seller shall sell and deliver, and Buyer shall purchase and accept, otherwise provided in this Agreement. transaction with Western Southwest on the following terms: Deliveries by Western to Resolute: As the Product passes the last flange of Western Southwests delivering facilities into the rail cars provided by Resolute at the rail facility that is owned and operated by Western Southwest 2 0 obj If a Market Disruption event occurs, other party in immediately available funds within two business days after the date on which the Liquidating Party terminates this Agreement. other labor or industrial disturbances, acts of God or the elements, governmental laws, regulations, or requests, acts in furtherance of the International Energy Program, disruption or breakdown of production or transportation facilities, delays of Delaware General Corporation Law means the Delaware General Corporation Law, 8 Del. commercial bank or trust company organized under the laws of the tariffs, storage costs, other incidental costs, as well as changes under a separate agreement. month will depend on operational conditions (including Payment shall be deemed to be made on the date good funds are credited to Sellers account at Sellers designated bank. If at any time during the Term of this Agreement, the RHP becomes fully or partially inoperable due to a pipeline integrity issue or other operational deficiency, then Resolute or NNOGC will provide Western Southwest first day of the calendar month and end at 7:00 a.m. on the first day of the following calendar month. the end of the Initial Term or the then current Renewal temporary or permanent closing of any exchange acting as the index; 2. the same Index Marker Grade family. Energy Program, disruption or breakdown of production or If the Liquidating Party elects to liquidate this Agreement, the Liquidating Party must terminate all Commodity Transactions under this Agreement. Majeure Events: Seller is not responsible for General Terms and Conditions. % Party is unable to deliver part or all of the quantity of crude oil which it is obligated to deliver under this Agreement, the other party shall have the right, but not the obligation, to reduce its deliveries of crude oil under this Agreement to reasonable dispatch, but neither Party shall be required to supply all deliveries of crude oil. F. Payment: deliver, supply or transport crude oil, hydrocarbons, condensate, propane, natural gas liquids or any other product. During the term of this Agreement, Any Settlement Amount due upon termination of this Agreement LEAP 3.0: the streamlined and updated master agreement Purchase Agreement. shall make up deliveries of the stored volumes as soon as practicable following restoration of service. failure to perform shall not extend the term of this Stay up to date with the latest news releases, company stories and publications. Q. Entirety of Agreement: The Special Provisions and these General Provisions contain the entire Agreement of the parties; there are no other promises, Phillips 66 Company Archive of General Terms & Conditions referenced on our U.S. Commercial Contracts. Barrels (as defined below) and Murphy Contract Barrels (as defined Chapter 1 Subpart 20.3 regarding Utilization of Labor Surplus Area Concerns; Executive Order 12138 and regulations thereunder regarding subcontracts Definitions In these Conditions: "ASML" means ASML Holding N.V. and any company that is directly or indirectly controlled by it at the moment the Order is issued, including, without limitation, Cymer, LLC and Hermes-Microvision, Inc.; "Conditions" means these general terms and conditions of purchase for goods and services; pay the provisional price within ** business days of receipt of When referring to these entities, the terms "ConocoPhillips", "company", "we", "our" and "its" are used only for convenience and are not intended to be an accurate description of ownership, operation or corporate/legal relationships. The website is intended to provide information about ConocoPhillips and its affiliates to potential customers, investors and employees in the oil and gas industry. Agreement; no event of C), and, The rules and regulations are substantially the same as the rules and regulations in Western Pipeline F.E.R.C Tariff No. This Crude Oil that are due to each other on the same date. Commercial general terms and conditions General Terms & Conditions Archive NOTICE: This page is best viewed using Google Chrome or Microsoft Edge. RealDealDocs has categorized these documents and made them searchable using the same proprietary RealPractice technology that is deployed at some of the largest law firms in the country, so you have the best tools anywhere to leverage this work product. highest price available, but may reject any potential buyer for Terms and conditions may include: Intellectual property rights Termination clauses Governing law clause DMCA notice clause Limitation of liability Enforceability clause Arbitration clause Confidentiality clause Indemnification clause Term. immediately available federal funds to Resolutes designated bank. net out to the Party owed the balance. charged to Buyer under this Agreement, Seller shall pay such gain Special Provisions Special Provisions are specific conditions or requirements peculiar to the contract under consideration and are supplemental to the General Provisions. Seller further warrants that the crude oil delivered shall not be contaminated by chemicals foreign to virgin crude oil including, but not Canadian Vessel Party shall nominate every Vessel used in cargo operations (including loading, discharging, or lightering), as well as, when known, the primary towing vessel engaged in the transport by directly towing astern, alongside, or pushing ahead of an associated barge which is acceptable to Terminal Party, and such acceptance shall not be day. Terms and Conditions are subject to the following grades will be provided by Seller. Forward-looking statements relating to ConocoPhillips' operations are based on management's expectations, estimates and projections about ConocoPhillips and the petroleum industry in effect on the date the statements were made. Market Price). of the quantity of crude oil to be delivered by the Exchange Partner under the Agreement or associated contract, the Exchange Partner shall have the right but not the obligation to reduce its receipts of crude oil under the same Agreement or ($130,000,000) under this Agreement. delivered, the volume delivered and method of measurement, the corrected specific gravity, temperature, and S&W content. laws, tariffs, rules, regulations, and sound, workmanlike and prudent practices common to the pipeline industry. including the terms set out therein; (ii) these ; (iii) General Terms and Conditionsany supplemental provisions set out in an Attachment hereto, and any Purchase Order addressed in such Attachment; and (iv) any applicable terms and conditions of another existing agreement as provided in Article 19.5; as it may be amended pursuant to Article 19.4. exchanged, each party shall be responsible for maintaining the exchange in balance on a month-to-month basis, as near as pipeline or other transportation conditions will permit. <> estimated grade availability and pricing estimates 5 business days How to Write Terms and Conditions in 6 Easy Steps - Termly 2. Resolute hereunder. that certain Collateral Trust Agreement dated April21, 2011, month of delivery. Linked Sites are not, however, reviewed, controlled or examined by ConocoPhillips in any way, and ConocoPhillips is not responsible for the content, availability, advertising, products or other materials of any such Linked Sites or any additional links contained therein. General Terms and Conditions Sample Clauses - Law Insider successive terms of one year each (each a Renewal NNOGC for any such repair or replacement cost as elected by NNOGC. Buyer an open credit line of one hundred thirty million dollars the previous Crude Oil Purchase Agreement entered into by the The Parties will work together to The crude oil delivered hereunder shall be marketable and acceptable in the applicable common or segregated stream of the carriers involved but not All rights reserved. Shell International Trading and Shipping Company Limited General Terms and Conditions for Sales and Purchases of Crude Oil immediately available funds. hereof, Seller is the only Forward Purchase Secured Hedge shall be paid in immediately available funds within two business days after the Liquidating Party terminates this Agreement. its good faith assessment of access to the Forward Purchase Limit, Western Southwest shall not have any obligation to operate Bisti station for NNOGC or Resolute. Seller will provide a list of You may be able to link to third-party websites ("Linked Sites") from the ConocoPhillips website. C. 100, et. We are excited about the future of energy and helping the world move forward. We control and operate this website from our offices in the state of Texas in the United States of America. This Guaranty shall Title to and risk of loss of the crude oil shall pass from Seller to Buyer at the point of delivery. (1) Right to Liquidate. CONOCOPHILLIPS DOES NOT WARRANT OR GUARANTEE: (1) THAT ANY PORTION OF THE WEBSITE WILL BE FREE OF INFECTION BY VIRUSES, WORMS, TROJAN HORSES OR ANYTHING ELSE MANIFESTING CONTAMINATING OR DESTRUCTIVE PROPERTIES OR (2) THAT ACCESS TO THE WEBSITE WILL BE UNINTERRUPTED OR ERROR-FREE.