Credit Requirements. Purchases made by Buyer hereunder shall be on open account provided that: (a) Buyer or its Affiliates are not in default in the payment when due of any of its indebtedness in excess of $2,500,000 in the aggregate; and (b) Buyer's sales of Crude Oil hereunder are in accordance with the credit policies set forth by Plains Resources' chief financial officer.
Appears in 3 contracts
Samples: Crude Oil Marketing Agreement (Plains Resources Inc), Crude Oil Marketing Agreement (Plains All American Pipeline Lp), Crude Oil Marketing Agreement (Plains Exploration & Production Co L P)
Credit Requirements. Purchases made by Buyer hereunder shall be on open account provided that:
(a) Buyer or its Affiliates are not in default in the payment when due of any of its indebtedness in excess of $2,500,000 in the aggregate; and
(b) Buyer's ’s sales of Crude Oil hereunder are in accordance with the credit policies set forth by Plains Resources' the General Partner’s chief financial officer, which policies are set forth on Exhibit E attached hereto.
Appears in 2 contracts
Samples: Crude Oil Marketing Agreement, Crude Oil Marketing Agreement (Plains Exploration & Production Co)
Credit Requirements. Purchases made by Buyer hereunder shall be on open account provided that:
(a) Buyer or its Affiliates are not in default in the payment when due of any of its indebtedness in excess of $2,500,000 in the aggregate; and
(b) Buyer's sales of Crude Oil hereunder are in accordance with the credit policies set forth by Plains Resources' chief financial officer.
Appears in 1 contract
Samples: Crude Oil Marketing Agreement (Plains All American Pipeline Lp)
Credit Requirements. Purchases made by Buyer hereunder shall be on open account provided that:
(a) Buyer or its Affiliates are not in default in the payment when due of any of its indebtedness in excess of $2,500,000 10,000,000 in the aggregate; and
(b) Buyer's sales of Crude Oil hereunder are in accordance with the credit policies set forth by Plains Resources' the General Partner's chief financial officer.. ARTICLE VIII
Appears in 1 contract
Samples: Crude Oil Marketing Agreement (Plains All American Pipeline Lp)
