Common use of Effect of Company Restructuring Clause in Contracts

Effect of Company Restructuring. If Company decides to restructure its supply, refining or sales operations at the Lake Xxxxxxx Refinery in such a way as could reasonably be expected to materially and adversely affect the economics of Company’s performance of its obligations under this Agreement, then the Parties will negotiate in good faith a reduction in Company’s Minimum Quarterly Transportation Commitment or an exchange of the Pipeline for other assets not so affected.

Appears in 2 contracts

Samples: Transportation Services Agreement (Phillips 66 Partners Lp), Transportation Services Agreement (Phillips 66 Partners Lp)

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Effect of Company Restructuring. If Company decides to restructure its supply, refining or sales operations at the Lake Xxxxxxx Refinery in such a way as could reasonably be expected to materially and adversely affect the economics of Company’s performance of its obligations under this Agreement, then the Parties will negotiate in good faith concerning a reduction in Company’s Minimum Quarterly Transportation Commitment commitment or an exchange of the Pipeline Xxxxxxx Xxxxx Terminal or the Pecan Grove Terminal (whichever is adversely affected) for other assets not so affected.

Appears in 2 contracts

Samples: Terminal Services Agreement (Phillips 66 Partners Lp), Terminal Services Agreement (Phillips 66 Partners Lp)

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Effect of Company Restructuring. If Company decides to restructure its supply, refining or sales operations at the Lake Xxxxxxx Refinery in such a way as could reasonably be expected to materially and adversely affect the economics of Company’s performance of its obligations under this Agreement, then the Parties will negotiate in good faith concerning a reduction in Company’s Minimum Quarterly Transportation Commitment or commitment and/or an exchange of the Pipeline Xxxxxxx Xxxxx Terminal or the Pecan Grove Terminal (whichever is adversely affected) for other assets not so affected.

Appears in 1 contract

Samples: Terminal Services Agreement (Phillips 66 Partners Lp)

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