Optional Monthly Quantity Sample Clauses

Optional Monthly Quantity. Buyer shall have the option to purchase quantities of Oil in addition to the Base Quantity (the “Optional Quantities”). The volume of the Optional Quantities shall be limited to a maximum total of fifteen thousand (15,000) Barrels per Day for each Year of the Agreement. If agreed between the Parties, the Optional Quantities may be Delivered at a rate equal to twenty five thousand (25,000) Barrels per Day in any Month of the Agreement. In order to exercise this option, Buyer shall request such Optional Quantities in accordance with the procedures set forth in Clause 8 (“Nominations”). The Parties shall negotiate and seek agreement on a price for the Cargo or Cargoes which constitute the Optional Quantities in accordance with Clause 9 (“Pricing”). Should Seller confirm the availability of additional quantities meeting each request and the Parties reach agreement on price terms, then this additional quantity (making a part of the Optional Quantity) shall be Delivered according to the procedures in the Agreement.