Payment for Purchased Crude Oil. If the request for deliveries from Contractor is the result of a Force Majeure event under Sub-article 19.2, Staatsolie shall settle the payment in cash within sixty (60) Days from the date of delivery, otherwise payment to Contractor shall be made in accordance with Article 16. In all events that Staatsolie fails to pay any amount owed to Contractor for received Crude Oil when due, Contractor shall have the right to take and sell such quantity of Staatsolie’s Profit Oil in satisfaction of any unpaid balance.
Payment for Purchased Crude Oil. If the request for deliveries from Contractor is the result of a Force Majeure event under Sub- Article 20.2, Staatsolie shall settle the payment in cash within sixty (60) Days from the date of delivery, otherwise payment to Contractor shall be made in accordance with Article 17. In all events that Staatsolie fails to pay any amount owed to Contractor for received Crude Oil when due, Contractor shall have the right to take and sell such quantity of Staatsolie’s (as agent of the Government of Suriname) Profit Oil abroad or in Suriname in satisfaction of any unpaid balance. Contractor shall be reimbursed by Staatsolie for any marketing fees or transportation costs incurred by Contractor to sell mentioned above Staatsolie’s Profit Oil.
