Multiple Deliveries. If this Agreement provides for multiple deliveries of one or more types of crude oil in the same or different delivery months, or for the purchase or exchange of crude oil by the parties, all deliveries under this Agreement to the same party at the same delivery location during a particular delivery month shall be considered a single commodity transaction (“Commodity Transaction”) for the purpose of determining the Settlement Amount(s). If the Liquidating Party elects to liquidate this Agreement, the Liquidating Party must terminate all Commodity Transactions under this Agreement.
Appears in 8 contracts
Samples: Crude Oil Purchase Agreement, Crude Oil Purchase and Sale Agreement, Crude Oil Purchase and Sale Agreement (Centennial Resource Development, Inc.)
Multiple Deliveries. If this Agreement provides for multiple deliveries of one or more types of crude oil in the same or different delivery months, or for the purchase or exchange of crude oil by the parties, all deliveries under this Agreement to the same party at the same delivery location during a particular delivery month shall be considered a single commodity transaction (“"Commodity Transaction”") for the purpose of determining the Settlement Amount(s). If the Liquidating Party elects to liquidate this Agreement, the Liquidating Party must terminate all Commodity Transactions under this Agreement.
Appears in 4 contracts
Samples: Purchase and Sale Agreement (Centennial Resource Development, Inc.), Purchase Contract (Lilis Energy, Inc.), Crude Oil Purchase Agreement (Berry Petroleum Co)
Multiple Deliveries. If this Agreement provides for multiple deliveries of one or more types of crude oil in the same or different delivery months, or for the purchase or exchange of crude oil by the parties, all deliveries under this Agreement to the same party at the same delivery location during a particular delivery month shall months hall be considered a single commodity transaction (“Commodity Transaction”) for the purpose of determining the Settlement Amount(s). If the Liquidating Party elects to liquidate this Agreement, the Liquidating Party must terminate all Commodity Transactions under this Agreement.
Appears in 2 contracts
Samples: Domestic Crude Oil Agreement (Rockies Region 2007 Lp), Partnership Agreement (Rockies Region 2007 Lp)
Multiple Deliveries. If this Agreement provides for multiple deliveries of one or more types of crude oil in the same or different delivery months, or for the purchase or exchange of crude oil by the parties, all deliveries under this Agreement to the same party at the same delivery location during a particular delivery month shall be considered a single commodity transaction (“"Commodity Transaction”") for the purpose of determining the Settlement Amount(s). If the Liquidating Party elects to liquidate this Agreement, Agreement the Liquidating Party must terminate all Commodity Transactions under this Agreement.
Appears in 2 contracts
Samples: Physical Transaction Confirmation (Petroleum Development Corp), Physical Transaction Confirmation (Rockies Region 2006 Limited Partnership)
