Common use of Delivery Point, Title and Risk Clause in Contracts

Delivery Point, Title and Risk. 6.1. The deliveries of Crude Oil under this Agreement shall be made by the Sellers Free on Board (FOB) to Buyer’s vessel at the outlet flange (cam-lock coupling) of the floating hose attached to tanker manifold at the Single Point Mooring ("SPM") offshore delivery facility at the Ravva Field. 6.2. The delivery of Crude Oil shall be deemed completed and title and all risk in and associated with such Crude Oil shall pass to the Buyer when the Crude Oil passes the Delivery Point. 6.3. Buyer shall provide a suitable vessel approved by the Sellers (“Vessel”) to take delivery of the Crude Oil. 6.4. Buyers shall be responsible for the transportation of Crude Oil from the Delivery Point to the Buyer’s refinery system. 6.5. Xxxxx agrees that Crude Oil supplied by Sellers will be used in Buyer’s refinery system in India and Buyer will not resell the crude in the state of Andhra Pradesh. However, if due to operational reasons if the Buyer is required to sell the crude oil to other Oil companies outside the state of Andhra Pradesh on back-to-back basis, Buyer shall seek prior written permission from the Sellers for the same and this permission will not be unreasonably withheld by Sellers.

Delivery Point, Title and Risk. 6.15.1. The deliveries of Crude Oil under this Agreement shall be made by the Sellers Free on Board (FOB) to Buyer’s vessel at the outlet flange (cam-lock coupling) of the floating hose attached to tanker manifold at the Single Point Mooring ("SPM") offshore delivery facility at the Ravva Field. 6.25.2. The delivery of Crude Oil shall be deemed completed complete and title and all risk in and associated with such Crude Oil shall pass to the Buyer when the Crude Oil passes the Delivery Point. 6.35.3. Buyer shall provide a suitable vessel approved by the Sellers (“Vessel”) to take delivery of the Crude Oil. 6.45.4. Buyers shall be responsible for the transportation of Crude Oil from the Delivery Point to the Buyer’s refinery system. 6.55.5. Xxxxx agrees that Crude Oil supplied by Sellers will be used in Buyer’s refinery system in India and Buyer will not resell the crude in the state of Andhra Pradesh. However, if due to operational reasons if the Buyer is required to sell the crude oil to other Oil companies outside the state of Andhra Pradesh on back-to-back basis, Buyer shall seek prior written permission from the Sellers for the same and this permission will not be unreasonably withheld by Sellers.