Common use of Offtake Agreements Clause in Contracts

Offtake Agreements. Each Obligor must: (a) use its best endeavours to ensure that the each Offtake Agreement remains in full force and effect for the sale of in aggregate 100 per cent of the material produced by the Target until, at least, the date falling one year following the Termination Date (except to the extent such Offtake Agreement is terminated and replaced within 90 days, or otherwise amended, novated, supplemented, extended or restated in accordance with the Finance Documents, on market terms substantially no worse than the existing Offtake Agreement being terminated); (b) not novate or transfer, or agree to novate or transfer, the Offtake Agreements to any person who is not an Offtaker or replace, or agree to replace, an Offtaker with any person who is not a person who has the financial capacity to perform its obligations under the relevant replacement offtake agreement; and (c) not enter into any other offtake, purchase, refining or finishing agreement with any person other than an Offtaker (and in which case, on terms the same or substantially the same as the Offtake Agreements) without the prior written approval of the Agent (such approval not to be unreasonably withheld), other than the Offtake Agreements.

Offtake Agreements. Each Obligor must: (a) use its best endeavours to ensure that the each Offtake Agreement remains in full force and effect for the sale of in aggregate 100 per cent 100% of the material produced by the Target until, at least, the date falling one year following the Termination Date (except to the extent such Offtake Agreement is terminated and replaced within 90 days, or otherwise amended, novated, supplemented, extended or restated in accordance with the Finance Documents, on market terms substantially no worse than the existing Offtake Agreement being terminated); (b) not novate or transfer, or agree to novate or transfer, the Offtake Agreements to any person who is not an Offtaker or replace, or agree to replace, an Offtaker with any person who is not a person who has (in the opinion of the Agent) the financial capacity to perform its obligations under the relevant replacement offtake agreement; and (c) not enter into any other offtake, purchase, refining or finishing agreement with any person other than an Offtaker (and in which case, on terms the same or substantially the same as the Offtake Agreements) without the prior written approval of the Agent (such approval not to be unreasonably withheld), other than the Offtake Agreements.