Relationship to Laurel Refinery Clause Samples

Relationship to Laurel Refinery. CENEX owns and operates a petroleum refinery located in Laurel, Montana. The Parties agree that the NCRA Refinery will be operated independently of CENEX’s Laurel refinery. However, if opportunities arise for coordination of specific activities or functions at the NCRA Refinery and CENEX’s Laurel refinery, and it can be reasonably demonstrated through economic analysis presented to the NCRA board that such coordination is likely to reduce the costs or increase the profitability of NCRA and will not be economically detrimental to the interest of any member, then the board of directors may approve the coordination of the specific activity or function. The economic analysis to be presented to the board, with supporting documentation, shall be provided to all board members at least 60 days before the board meeting at which such coordination proposal is to be presented, and any member-owner reasonably requesting information relating to the subject of the coordination proposal shall be provided with such information within ten (10) working days of the request from the member-owners. Failure of a member-owner to object to such coordination proposal on the basis of economic detriment and provide documentation in support of such detriment at the time such coordination proposal is considered by board of directors, shall be deemed a waiver of the right to object to such coordination proposal.