LAYTIME AND DEMURRAGE. Buyer has two methods of requesting Seller to provide a Cargo to meet Buyer’s Requirement, the Execution Method and the Supply Point Method. (a) As used herein, “demurrage” means the time in excess of the laytime allowed to Buyer calculated as per this Clause 16 and/or the agreed damages payable by Buyer to Seller for the excess time for Time Chartered Vessels as will be agreed upon pursuant to Clause 14(a)(iii).
Appears in 6 contracts
Samples: Crude Oil/Feedstock Supply/Delivery and Services Agreement (PBF Energy Inc.), Crude Oil/Feedstock Supply/Delivery and Services Agreement (PBF Energy Inc.), Crude Oil/Feedstock Supply/Delivery and Services Agreement (PBF Energy Inc.)
