Common use of Oral Transaction Procedure Clause in Contracts

Oral Transaction Procedure. Any Transaction may be effectuated in Conversations, with the offer and acceptance constituting the agreement of the parties. The parties shall be legally bound from the time they so agree to Transaction terms and may each rely thereon. Any such Transaction shall be considered a “writing” and to have been “signed.” Notwithstanding the foregoing sentence, the parties agree that the Confirming Party shall, and the other party may, confirm any Oral Transaction by sending the other party a Confirmation by facsimile or other mutually agreeable electronic means within three Business Days of a Transaction covered by this Section 1.2 (Oral Transaction Procedure), provided that the failure to send a Confirmation shall not invalidate the oral agreement of the parties. The Confirming Party adopts its letterhead, or the like, as its signature on any Confirmation as the identification and authentication of the Confirming Party. If the Confirmation contains any provisions other than those relating to the commercial terms of the Transaction (i.e., Price, Contract Quantity, quality specifications, Performance Obligation, delivery obligation, transaction type, origin, destination, Delivery Location, Carrier(s), Delivery Period, Delivery Month and/or transportation conditions), that modify or supplement the Master Agreement (e.g., arbitration or additional representations and warranties), such provisions shall not be deemed to be accepted pursuant to Section 1.3 but must be expressly agreed to by both parties, provided that the foregoing shall not invalidate any Transaction agreed to by the parties.

Oral Transaction Procedure. The parties will use the following Transaction Confirmation procedure. Any Transaction Gas purchase and sale transaction may be effectuated in Conversations, an EDI transmission or telephone conversation with the offer and acceptance constituting the agreement of the parties. The parties shall be legally bound from the time they so agree to Transaction transaction terms and may each rely thereon. Any such Transaction transaction shall be considered a “writing” and to have been “signed.” ”. Notwithstanding the foregoing sentence, the parties agree that the Confirming Party shall, and the other party may, confirm any Oral Transaction a telephonic transaction by sending the other party a Transaction Confirmation by facsimile facsimile, XXX or other mutually agreeable electronic means within three Business Days of a Transaction transaction covered by this Section 1.2 (Oral Transaction Procedure), ) provided that the failure to send a Transaction Confirmation shall not invalidate the oral agreement of the parties. The Confirming Party adopts its confirming letterhead, or the like, as its signature on any Transaction Confirmation as the identification and authentication of the Confirming Party. If the Transaction Confirmation contains any provisions other than those relating to the commercial terms of the Transaction transaction (i.e., Priceprice, Contract Quantityquantity, quality specifications, Performance Obligationperformance obligation, delivery obligationpoint, transaction type, origin, destination, Delivery Location, Carrier(s), Delivery Period, Delivery Month period of delivery and/or transportation conditions), that which modify or supplement the Master Agreement Base Contract or General Terms and Conditions of this Contract (e.g., arbitration or additional representations and warranties), such provisions shall not be deemed to be accepted pursuant to Section 1.3 but must be expressly agreed to by both parties, ; provided that the foregoing shall not invalidate any Transaction transaction agreed to by the parties.