Receivables from Combustibles Argentinos S Sample Clauses

Receivables from Combustibles Argentinos S. A. Río Cullen-Las Violetas, as a member of the UTE, is a creditor of —both directly and indirectly through its share in Dispet S.A., i.e., through its total 50.0769% share in the UTE— Combustibles Argentinos S.A., with a claim amounting to one hundred and seventy-six thousand, two hundred and eighty-six with 90/100 US Dollars (US$ 176,286.90), plus AR$ 64.000 (resulting from bounced checks), plus interest, penalties and other charges thereon, originating in the sale of crude oil to Combustibles Argentinos S.A. (“Receivables from Sales of Crude Oil”), in the framework of the Producers and Refineries’ Agreement on Crude Oil, Petrol and Gasoil Price Stability entered into by Roch S.A., in its capacity as operator and UTE’s representative, and Combustibles Argentinos S.A., on January 2, 2003. In order for Receivables from the Sale of Crude Oil to be collected it is necessary that the UTE should make further sales of crude oil to Combustibles Argentinos S.A., which is exclusively the UTE’s decision and in connection with which Seller has no right to influence or claim. In the event that the UTE (i) collects Receivables from the Sales of Crude Oil, in whole or in part, or (ii) sells to Combustibles Argentinos S.A. any amount of crude oil, then the Purchase Price shall increase in a dollar-denominated amount equal to all the sums collected by the Company for such sales, the Purchasers having to pay said price to Seller within five (5) days following actual collection. Provisions in (i) or (ii) above shall remain in force and effect for a term of two (2) years next following Closing. Seller is expressly authorized to assign its rights hereunder upon prior notice to Purchasers.
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