Export Contracts. If the Customer is located outside South Africa, the following additional provisions shall apply, unless otherwise agreed:
Export Contracts. 23.1 All export contracts for supply by the Seller are subject to any necessary licences and Exchange Control authorisations being obtained.
Export Contracts. (a) The Borrower shall ensure that each Export Contract is in proper legal form under its governing law to ensure that it constitutes a legal, valid and binding obligation of each of the parties thereto under such law, enforceable in accordance with its terms.
Export Contracts. 20.1 In the event that the Goods are exported, delivery of the Goods may be subject to either FOB Contract, CIF Contract, DDU Contract or EXW Contract.
Export Contracts. The Export Contracts shall not have been cancelled, rescinded or terminated for reasons other than performance of their terms.
Export Contracts. The Administrative Agent shall have received copies certified by a senior officer which is an authorized signatory of the Borrower of Export Contracts executed with Eligible Off-takers in an aggregate amount sufficient to maintain compliance with Subsection 11.18.7, after giving effect to the proposed Advance. ARTICLE 11.
Export Contracts. If the Customer is located outside South Africa, the following additional provisions shall apply, unless otherwise agreed:
(a) all Gas and/or Goods shall be supplied ex-works as defined in accordance with Incoterms as in force on the date of this Agreement;
(b) the Customer shall be responsible for complying with any legislation or regulations governing the export of the Gas and/or Goods from South Africa and import into the country of destination and for the payment of any duties;
(c) the Customer may at its cost inspect the Gas and/or Goods at Afrox’s works before shipment, at a time to be agreed, and Afrox shall rectify any defects notified by the Customer during such inspection. Afrox shall not be liable for any defect discovered after shipment from Afrox which would have been apparent on inspection (whether or not carried out), or any claim in respect of damage during transit;
(d) in the event of a claim under the warranty in Clause 16 the Customer shall arrange and pay for transport of defective Gas and/or Goods to Afrox and replacement Gas and/or replacement or repaired Goods shall be supplied to the Customer ex-works; and
(e) payment shall be made by means of an irrevocable letter of credit in a form agreed by Afrox and confirmed by a bank in South Africa acceptable to Afrox.
Export Contracts. 10.1. In the case of export contracts all import duties, charges and assessments shall be paid by the Customer and the obtaining of any necessary export and import licences in respect of the Equipment shall be the sole responsibility of the Customer and Rib-X shall be under no liability whatsoever to the Customer in respect of Equipment exported without the necessary export and import licences.
Export Contracts. 11.18.1 The Borrower shall ensure that each Export Contract that is associated with any Advance shall be in proper legal form under its governing law to ensure that it constitutes a legal, valid and binding obligation of each of the parties thereto under such law, enforceable in accordance with its terms. Each Export Contract shall be in form and substance satisfactory to the Administrative Agent acting on the instructions of the Required Lenders. Each Export Contract shall: (a) contain irrevocable instructions to pay all proceeds of the Export Contracts into the Collection Account; (b) restrict each party thereto from exercising any right of set-off; (c) contemplate a payment schedule which shall ensure that the proceeds of the Export Contract relating to each Advance will be paid into the Collection Account on or prior to the Principal Payment Date of the Advance to which it applies; and (d) be governed by and construed in accordance with the laws of the State of New York or as agreed in writing by the Required Lenders. 11.18.2 Each Obligor shall duly observe and perform all of the covenants, obligations and conditions which are required to be observed and performed by it in relation to any Export Contract and the Borrower shall pursue all claims against each Eligible Off-taker to which it is entitled under any Export Contract. 11.18.3 The Borrower shall not enter into any amendment, waiver, variation or release of any right or obligation under any Export Contract, or otherwise amend in any manner or terminate any Export Contract without the prior written consent of the Required Lenders (which consent may be withheld in the sole absolute discretion of the Required Lenders). 11.18.4 The Borrower shall as soon as the same becomes available, deliver, or cause to be delivered, to the Administrative Agent (x) the details of any litigation, arbitration or administrative proceedings which are current, threatened or pending in relation to any Export Contract and (y) copies of all documentation delivered to the Borrower which might reasonably be expected to affect the amount to be paid by any Eligible Off-taker or manner of payment pursuant to any Export Contract. 50 11.18.5 The Borrower shall not assign to any other party any Export Contract which has been attributed to any Advance. 11.18.6 The Borrower shall promptly deliver to the Administrative Agent such additional information and documents relating to any Export Contract and/or any Eligible Off-taker as may...
Export Contracts. Europe has a sophisticated transmission system whose development has gone hand-in-hand with long-term import agreements. A key part of the European gas transportation network is the Interconnector, which, at the end of 1998, integrated the UK and Ireland into mainland Europe.51 The liberalization of the European gas market, through EU Directives,52 aimed at removing the monopoly power of pipeline owners and to allow indiscriminate access to new entrants or other existing gas producers.53 Pipeline capacity was largely committed to suppliers that had contracted into long-term take-or-pay agreements, predominantly contracts with the former Soviet Union. Gazprom has held a de facto monopoly on export, through a wholly owned subsidiary, Gazpromexport (formally known as Gazexport), which took over all former Soviet Union intergovernmental long term export contracts. Since all the export contracts had been consolidated into this company, which also holds an existing monopoly on transport, it was impossible for other producers to enter the export market without the permission of the government54 and to create a spot market parallel to the long-term contracts. Since the enactment of the new Gas Export Law, of July 2006,55 the export monopoly has been solidified in the legal code. Article 3 of the said law stipulates that the exclusive right to export natural gas is granted to the owner of the UGS or a wholly owned subsidiary. The law does not apply however to gas exported under PSAs signed before this law came into force. An interesting parallel can be drawn with an existing monopoly in the crude oil pipelines, with state-owned OAO Transneft owning all the transport capacity. Independent producers are free to book capacity with Transneft, which unlike Gazprom, acts solely as a pipeline operator and holds no production interest. It is, however, also regulated by the FTS under a TPA regime, but independent oil producers have long complained about a lack of transparency in the pipeline capacity quota allocation mechanism.56 Long-term contracts have played an important role in the development of the European gas market by providing a risk sharing arrangement between producers and buyers, enabling important new investment into production and infrastructure projects to be undertaken. The European communities realize that their growing gas needs, the bulk of which are met with Russian gas, can only be adequately supplied if Russia is able to invest in new gas fields and p...
