Common use of NEW OR CHANGED REGULATIONS Clause in Contracts

NEW OR CHANGED REGULATIONS. 18.1 It is understood by the Parties that each Party is entering into each Transaction in reliance on the laws, rules, regulations, decrees, agreements, concessions and arrangements (hereinafter called “Regulations”) in effect on the date hereof with governments, governmental instrumentalities or public authorities affecting the Product sold hereunder including, but without limitation to the generality of the foregoing, those relating to the production, acquisition, gathering, manufacturing, transportation, storage, export, trading or delivery thereof, insofar as such Regulations affect either Party or Seller’s supplier. 18.2 In the event that at any time and from time to time any Regulations are changed or new regulations become effective, whether by law, decree or regulation or by response to the insistence or request of any governmental or public authority or any person purporting to act therefore, and the material effect of such changed or new Regulations (a) is not covered by any other provision hereunder; and (b) has a material adverse economic effect upon either Party, such Party shall have the option to request re-negotiation of the prices or other pertinent terms hereunder. Such option may be exercised by either Party at any time after such changed or new Regulation is promulgated, by written notice of desire to re-negotiate, such notice to contain the new prices or terms desired by such Party. 18.3 If the Parties do not agree upon new prices or terms satisfactory to both within 30 Days after either Party gives such notice hereunder, either Party shall have the right to terminate the affected Transaction at the end of the said 30-Day period. Any Product delivered during such 30-Day period shall be sold and purchased at the price and on the terms applying hereunder without any adjustment in respect of the new or changed Regulations concerned.

NEW OR CHANGED REGULATIONS. 18.1 It is understood by the Parties that each Party is The parties are entering into each Transaction this Agreement in reliance on the federal, state, county and local laws, statutes, ordinances, codes, regulations, rules, regulationsorders, decrees, agreements, concessions permits and arrangements with governments or governmental instrumentalities (hereinafter called “Regulations”) in effect on the date hereof with governments, governmental instrumentalities or public authorities of execution of this Agreement by Global and affecting the Product Products (including the raw materials, manufacturing or distribution facilities used therefor) sold hereunder including, but without limitation to the generality of the foregoing, those relating to the production, acquisition, gathering, manufacturing, transportation, storage, export, trading or delivery thereof, insofar as such said Regulations affect either Party Distributor, Global or SellerGlobal’s supplier. 18.2 In suppliers. If the event that at any time and from time to time any Regulations are changed or new regulations become effective, whether by law, decree or regulation or by response to the insistence or request effect of any governmental change in any Regulation or public authority or of any person purporting to act therefore, and the material effect of such changed or new Regulations Regulation (a) is not covered by any other provision hereunder; of this Agreement, and (b) in the affected party’s judgment, either (1) has a material an adverse economic effect upon either Partythe party (or if Global, such Party shall have upon Global’s suppliers) or (2) increases the option risk to the affected party of performance under this Agreement, the affected party may request re-negotiation of the prices or other pertinent terms hereunder. Such option may be exercised by either Party at any time after such changed or new Regulation is promulgatedof this Agreement, by written notice of desire to re-negotiate, such notice to contain the new prices or terms desired by such Party. 18.3 If the Parties do not agree upon new prices or terms satisfactory to both within 30 Days after either Party gives such notice hereunder, either Party shall have The affected party has the right to terminate this Agreement on written notice, effective ninety (90) days after the affected Transaction at request for re-negotiation, if the end re-negotiation is not satisfactorily completed. Such right to request re-negotiation or, upon failure to agree, to terminate, shall without limitation also be available if Regulations: (a) Inhibit Global from freely establishing, by increasing or decreasing, prices of the said 30-Day period. Any Product delivered during such 30-Day period shall be sold and purchased at Products covered by this Agreement; and/or (b) Prohibit Global from collecting the price and on adjustment provided for above in Section 8: and/or (c) Regulate the terms applying hereunder without any adjustment in respect prices or recipients of the new or changed Regulations concernedProducts covered by this Agreement; and/or (d) Affect Global’s liability.

NEW OR CHANGED REGULATIONS. 18.1 16.1 It is understood by the Parties that each Party is entering into each Transaction in reliance on the laws, rules, regulations, decrees, agreements, concessions and arrangements (hereinafter called “Regulations”) in effect on the date hereof with governments, governmental instrumentalities or public authorities affecting the Product sold hereunder including, but without limitation to the generality of the foregoing, those relating to the production, acquisition, gathering, manufacturing, transportation, storage, export, trading or delivery thereof, insofar as such Regulations regulations affect either Party or Seller’s supplier. 18.2 16.2 In the event that at any time and from time to time any Regulations regulations are changed or new regulations become effective, whether by law, decree or regulation or by response to the insistence or request of any governmental or public authority or any person purporting to act therefore, and the material effect of such changed or new Regulations regulations (a) is not covered by any other provision hereunder; and (b) has a material adverse economic effect upon either Party, such Party shall have the option to request re-negotiation of the prices or other pertinent terms hereunder. Such option may be exercised by either Party at any time after such changed or new Regulation regulation is promulgated, by written notice of desire to re-negotiate, such notice to contain the new prices or terms desired by such Party. 18.3 16.3 If the Parties do not agree upon new prices or terms satisfactory to both within 30 Days after either Party gives such notice hereunder, either Party shall have the right to terminate the affected Transaction at the end of the said 30-30 Day period. Any Product delivered during such 30-30 Day period shall be sold and purchased at the price and on the terms applying hereunder without any adjustment in respect of the new or changed Regulations regulations concerned.