Notification and Mitigation. TLO shall notify Customer of any proposed Surcharge to be imposed pursuant to Section 11(a) sufficient to cover the cost of any required capital projects and any ongoing increased operating costs. TLO and Customer then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine percent (9%) as a Surcharge, with the understanding that TLO and Customer shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 7 contracts
Samples: Terminalling Services Agreement, Terminalling Services Agreement β Nikiski (Tesoro Logistics Lp), Terminalling Services Agreement β Martinez (Tesoro Logistics Lp)
Notification and Mitigation. TLO shall notify Customer TRMC of any proposed Surcharge to be imposed pursuant to Section 11(a12(a) sufficient to cover the cost of any required capital projects and any ongoing increased operating costs. TLO and Customer TRMC then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine percent (9%) as a Surcharge, with the understanding that TLO and Customer TRMC shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 3 contracts
Samples: Master Terminalling Services Agreement, Master Terminalling Services Agreement (Tesoro Corp /New/), Master Terminalling Services Agreement (Tesoro Logistics Lp)
Notification and Mitigation. TLO shall notify Customer of any proposed Surcharge to be imposed pursuant to Section 11(a13(a) sufficient to cover the cost of any required capital projects and any ongoing increased operating costs. TLO and Customer then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine percent (9%) as a Surcharge, with the understanding that TLO and Customer shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 2 contracts
Samples: Alaska Terminalling Services Agreement (Tesoro Corp /New/), Alaska Terminalling Services Agreement (Tesoro Logistics Lp)
Notification and Mitigation. TLO Operator shall notify Customer of any proposed Surcharge to be imposed pursuant to Section 11(a7(a) sufficient to cover the cost of any required capital projects and any ongoing increased operating costs. TLO Operator and Customer shall then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine percent (9%) as a Surcharge, with the understanding that TLO Operator and Customer shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Pipeline Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 2 contracts
Samples: Pipeline Throughput Agreement (Tesoro Logistics Lp), Pipeline Throughput Agreement (Tesoro Corp /New/)
Notification and Mitigation. TLO shall notify Customer of any proposed Surcharge to be imposed pursuant to Section 11(a) sufficient to cover the cost of any required capital projects and any ongoing increased operating costs. TLO and Customer then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine LIBOR plus six percent (9LIBOR + 6%) as a Surcharge, with the understanding that TLO and Customer shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these such laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 2 contracts
Samples: Terminalling Services Agreement, Rail Terminalling Services Agreement (Andeavor)
Notification and Mitigation. TLO Operator shall notify Customer of any proposed Surcharge to be imposed pursuant to Section 11(a7(a) sufficient to cover the cost of any required capital projects and any ongoing increased operating costs. TLO Operator and Customer then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine LIBOR plus six percent (9LIBOR + 6%) as a Surcharge, with the understanding that TLO Operator and Customer shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 1 contract
Samples: Sublease Rights and Escrow Agreement (Andeavor Logistics Lp)
Notification and Mitigation. TLO Provider shall notify Customer of any proposed Surcharge to be imposed pursuant to Section 11(a) 6.1 sufficient to cover the cost of any required capital or expense projects and any ongoing increased operating costs. TLO Provider and Customer then shall negotiate in good faith for up to thirty (30) days to mutually determine the effect of the change in law or regulation or new law or regulation, the cost thereof, and how such cost shall be amortized at an interest rate of no more than nine percent (9%) as a Surcharge, with the understanding that TLO Provider and Customer shall use their reasonable commercial efforts to mitigate the impact of, and comply with, these laws and regulations. Without limiting the foregoing, if expenditures requiring a Surcharge may be avoided or reduced through changes in operations, then the Parties shall negotiate in good faith to set forth the appropriate changes in a Terminal Service Order to evidence the reduction of the amount of a Surcharge while leaving the Parties in the same relative economic position they held before the laws or regulations were changed or enacted.
Appears in 1 contract
Samples: Transportation and Storage Services Agreement (Andeavor Logistics Lp)