Terminal Storage And Throughput Agreement

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18 Δεκεμβρίου 2020
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18 Δεκεμβρίου 2020

Terminal Storage And Throughput Agreement

9. Term. The initial duration of the agreement is five years from the effective date (the “start period”). This agreement is automatically extended by three additional three years (each of an “extension”), at the current interest rate at the end of the current period, which applies by the Consumer Price Index for all urban consumers (CPI-U) for the U.S. municipal average for all items, 1982-84-100, adjusted for inflation, but not exceeding an annual increase of 3% per year over the applicable run-and-run period that has elapsed. ( (a) with respect to the initial duration, Lightfoot or the client notifies in writing to the other party, received from the other party no later than 18 months before the expiry of the original term, the intention of that party to terminate that contract, in which case that agreement expires at the expiry of the original term, or (b) with respect to an extension period , Lightfoot or the client informs the other party in writing that it receives the intention of that party to terminate this contract no later than 18 months before the expiry of the current extension period; in this case, this contract expires at the end of the current extension period (a written termination called “notification of termination” in clauses (a) and b) If a notification of termination is notified, Lightfoot has the right to enter into storage and debit agreements with a person, whether that person`s transaction is in direct or indirect competition with companies close to the customer or customer. , which storage and transit time agreements are in effect from and at the end of the initial term or extension period (termination date). From time to time, the termination date of Arc Terminals GP LLC, a limited liability company in Delaware (the “Lightfoot subsidiary”) and a wholly owned subsidiary of Lightfoot Capital Partners, LP, a Delaware Limited partnership (the “Lightfoot-Mutter”), members of the Lightfoot subsidiary (i) are not required to choose a candidate from the client or client subsidiary to be a member of the lightfoot subsidiary`s management committee. have the right to vote for such a client candidate to be removed from the board of directors of the Lightfoot subsidiary.

14.2 Loss management method. Notwithstanding the contrary provisions, the customer must evaporate, shrink, staple, discolor, contaminate, damage or destroy, as well as any other loss or damage caused to the products treated there, up to half a percent (0.005%) absorb. percentage of monthly throughput per product per terminal, and Lightfoot is responsible for any losses that go beyond that.