Common use of Buyer Permanent Shutdown Clause in Contracts

Buyer Permanent Shutdown. In the event that Buyer decides to permanently shutdown or close Buyer’s ethylene consuming facilities located at either Terneuzen or Boehlen, Buyer reserves the option to unilaterally and permanently cancel supply under this Contract at the affected site or sites or terminate this Contract with no penalty upon three (3) months advance written notice. If Buyer gives three (3) months notice to terminate this Contract, as provided for under this paragraph, Buyer agrees to provide twelve (12) months buyer support post shutdown to either consume or pay the Re-Marketing Fee as described in Section 11 above for any volumes not purchased during this twelve (12) month period.

Buyer Permanent Shutdown. In the event that Buyer decides to permanently shutdown or close Buyer’s ethylene butadiene consuming facilities located at either Terneuzen or Boehlenthe delivery locations listed in Section 6 of this Contract, Buyer reserves the option to unilaterally and permanently cancel supply under this Contract at the affected site or sites or terminate this Contract with no penalty upon three (3) months advance written notice. If Buyer gives three (3) months notice to terminate this Contract, as provided for under this paragraph, Buyer agrees to provide twelve (12) months buyer Buyer support post shutdown to either consume or pay the Re-Marketing Fee as described in Section 11 above of this Contract for any volumes not purchased during this twelve (12) month period.