Common use of Right to Enter New Agreement Clause in Contracts

Right to Enter New Agreement. Upon termination of this Agreement for reasons other than (i) a default by TRMC, and (ii) any other termination of this Agreement initiated by TRMC pursuant to Section 16 or (iii) the expiration of the Term, TRMC shall have the right to require TLO to enter into a new trucking transportation services agreement with TRMC that (A) is consistent with the terms set forth in this Agreement, and (B) has commercial terms that are, in the aggregate, equal to or more favorable to TLO than fair market value terms as would be agreed by similarly-situated parties negotiating at arm’s length; provided, however, that the term of any such new trucking transportation services agreement shall not extend beyond April 30, 2031.

Right to Enter New Agreement. Upon termination of this Agreement for reasons other than (ix) a default by TRMC, and (iiy) any other termination of this Agreement initiated by TRMC pursuant to Section 16 or (iii) the expiration of the Term16, TRMC shall have the right to require TLO to enter into a new trucking transportation services agreement with TRMC that (A1) is consistent with the terms set forth in this Agreement, and (B2) has commercial terms that are, in the aggregate, equal to or more favorable to TLO than fair market value terms as would be agreed by similarly-situated parties negotiating at arm’s length; provided, however, that the term of any such new trucking transportation services agreement shall not extend beyond April 30, 2031.

Right to Enter New Agreement. Upon termination of this Agreement for reasons other than (ix) a default by TRMC, and (iiy) any other termination of this Agreement initiated by TRMC pursuant to Section 16 or (iiiz) the expiration of the Term, TRMC shall have the right to require TLO to enter into a new trucking transportation services agreement with TRMC that (A1) is consistent with the terms set forth in this Agreement, and (B2) has commercial terms that are, in the aggregate, equal to or more favorable to TLO than fair market value terms as would be agreed by similarly-situated parties negotiating at arm’s 's length; provided, however, that the term of any such new trucking transportation services agreement shall not extend beyond April 30, 2031.