Common use of Coordination, Planning and Information Flow Procedures Clause in Contracts

Coordination, Planning and Information Flow Procedures. The Parties intend that MSCG shall utilize its global crude oil and feedstock trading and marketing capabilities to identify and present to TRC opportunities for the purchase from MSCG of U.S. domestic, Canadian and foreign Crude Oil. The Parties shall develop procedures for the exchange of information between TRC and MSCG throughout the Term to facilitate sales to TRC and optimization of the Refinery operations. Such procedures will include meetings (whether in person or by telephone or video conference) on an as required basis and a monthly meeting in person between TRC personnel and MSCG to, amongst other things, review the then current maintenance activities, present information relating to Crude Oil slates available for delivery to the Delivery Locations, refinery run plans and related commercial matters including hedging, sale and resale opportunities. Based on the planning and coordination activities described in this Section 5.1 and TRC’s nominations delivered in accordance with this Section 5, MSCG will use commercially reasonable efforts to locate and select Crude Oil meeting TRC’s requirements, determine price estimates for such Crude Oil and negotiate, purchase and transport such Crude Oil to the Delivery Locations for sale to TRC. TRC will use commercially reasonable efforts to cooperate with MSCG in the foregoing activities and to take delivery of the Crude Oil’s selected in accordance with the schedules agreed upon by the Parties.

Coordination, Planning and Information Flow Procedures. The Parties intend that MSCG shall utilize its global crude oil and feedstock trading and marketing capabilities to identify and present to TRC PBF opportunities for the purchase from MSCG of U.S. domestic, Canadian and foreign Crude Oil. The Parties shall develop procedures for the exchange of information between TRC PBF and MSCG throughout the Term to facilitate sales to TRC PBF and optimization of the Refinery operations. Such procedures will include meetings (whether in person or by telephone or video conference) on an as required basis and a monthly meeting in person between TRC PBF personnel and MSCG to, amongst other things, review the then current TRC maintenance activities, present information relating to Crude Oil slates available for delivery to the Delivery Locations, refinery run plans and related commercial matters including hedging, sale and resale opportunities. Based on the planning and coordination activities described in this Section 5.1 and TRCPBF’s nominations delivered in accordance with this Section 5, MSCG will use commercially reasonable efforts to locate and select Crude Oil meeting TRCPBF’s requirements, determine price estimates for such Crude Oil and negotiate, purchase and transport such Crude Oil to the Delivery Locations for sale to TRCPBF. TRC PBF will use commercially reasonable efforts to cooperate with MSCG in the foregoing activities and to take delivery of the Crude Oil’s selected in accordance with the schedules agreed upon by the Parties.