NYMEX Transactions. No Restricted Person will enter in to any NYMEX ------------------ contracts that are time-spread positions to each other, except (i) in the case where the sale obligation is in the future month of the purchase obligation, where both (A) the length of time between the purchase and sale contracts does not exceed thirty-six months and (B) the volume does not in the aggregate exceed the lesser of 3,000,000 barrels or 30% of the Plains Terminals' storage capacity and (ii) in the case where the purchase obligation is in the future month of the sale obligation, where the length of time between the sale and purchase contracts does not exceed twelve months. No Restricted Person will convert a NYMEX position to a physical position by way of an "exchange for physicals" or an "alternative delivery procedure"unless the credit extended in connection with such physical position would comply with the credit requirements of the definition of "Approved Eligible Receivables".
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Samples: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)
NYMEX Transactions. No Restricted Person will enter in to any ------------------ NYMEX ------------------ contracts that are time-spread positions to each other, except (i) in the case where the sale obligation is in the future month of the purchase obligation, where both (A) the length of time between the purchase and sale contracts does not exceed thirty-six months and (B) the volume does not in the aggregate exceed the lesser of 3,000,000 barrels or 30% of the Plains Terminals' storage capacity and (ii) in the case where the purchase obligation is in the future month of the sale obligation, where the length of time between the sale and purchase contracts does not exceed twelve months. No Restricted Person will convert a NYMEX position to a physical position by way of an "exchange for physicals" or an "alternative delivery procedure"unless the credit extended in connection with such physical position would comply with the credit requirements of the definition of "Approved Eligible Receivables".
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