Sale and Purchase of Natural Gas. On or before June 29 December ___, 2000, the Purchaser and the Seller shall agree upon and execute a Confirmation Letter and agree upon the schedule to the Initial Surety Bond providing for the periodic reductions to the maximum penal sum thereunder. The Confirmation Letter shall specify a mutually acceptable Prepaid Price (which shall be approximately U.S. $650,000,000) $500,000,000), the date on which the Prepaid Price shall be paid (which shall not be later than June 29 December __, 2000), and for each Delivery Month, the Delivery Points, the Required Delivery Quantity, and the amount thereof to be delivered and received at each such Delivery Point, each as mutually agreed by the Purchaser and the Seller. On the date specified for such purpose in the Confirmation Letter, the Purchaser shall pay to the Seller the Prepaid Price by wire transfer of immediately available funds to the Seller's account No. 3750494727 at Bank of America - Dallas, A.B.A. No. 000000000, provided that the conditions precedent set out in Annex 1 have been satisfied by the Seller and no Event of Default or Event of Change shall have occurred. Prior to the execution and delivery of the Confirmation Letter, the Purchaser shall cause the condition precedent set out on Annex 2 to be satisfied. In consideration of the payment to the Seller of the Prepaid Price, the Seller hereby agrees to sell and deliver, or cause to be delivered to the Purchaser or to the account of the Purchaser, in each Delivery Month, at the Delivery Points, the Required Delivery Quantity of Natural Gas (in the amounts set forth in the Confirmation Letter) on the terms and conditions set forth in this Agreement, and the Purchaser hereby agrees to accept delivery of such Natural Gas. Payment of the Prepaid Price shall constitute payment in full of the purchase price of the Natural Gas to be delivered hereunder.
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Sale and Purchase of Natural Gas. On or before June 29 December ___28, 2000, the Purchaser and the Seller shall agree upon and execute a Confirmation Letter and agree upon the schedule to the Initial Surety Bond providing for the periodic reductions to the maximum penal sum thereunder. The Confirmation Letter shall specify a mutually acceptable Prepaid Price (which shall be approximately U.S. $650,000,000) $500,000,000), the date on which the Prepaid Price shall be paid (which shall not be later than June 29 December __, 2000), and for each Delivery Month, the Delivery Points, the Required Delivery Quantity, and the amount thereof to be delivered and received at each such Delivery Point, each as mutually agreed by the Purchaser and the Seller. On the date specified for such purpose in the Confirmation Letter, the Purchaser shall pay to the Seller the Prepaid Price by wire transfer of immediately available funds to the Seller's account No. 3750494727 at Bank of America - Dallas, A.B.A. No. 000000000, provided that the conditions precedent set out in Annex 1 have been satisfied by the Seller and no Event of Default or Event of Change shall have occurred. Prior to the execution and delivery of the Confirmation Letter, the Purchaser shall cause the condition precedent set out on Annex 2 to be satisfied. In consideration of the payment to the Seller of the Prepaid Price, the Seller hereby agrees to sell and deliver, or cause to be delivered to the Purchaser or to the account of the Purchaser, in each Delivery Month, at the Delivery Points, the Required Delivery Quantity of Natural Gas (in the amounts set forth in the Confirmation Confirmation Letter) on the terms and conditions set forth in this Agreement, and the Purchaser hereby agrees to accept delivery of such Natural Gas. Payment of the Prepaid Price shall constitute payment in full of the purchase price of the Natural Gas to be delivered hereunder.
Appears in 1 contract
Sale and Purchase of Natural Gas. On or before June 29 December ___28, 2000, the Purchaser and the Seller shall agree upon and execute a Confirmation Letter and agree upon the schedule to the Initial Surety Bond providing for the periodic reductions to the maximum penal sum thereunder. The Confirmation Letter shall specify a mutually acceptable Prepaid Price (which shall be approximately U.S. $650,000,000) $500,000,000), the date on which the Prepaid Price shall be paid (which shall not be later than June 29 December __, 2000), and for each Delivery Month, the Delivery Points, the Required Delivery Quantity, and the amount thereof to be delivered and received at each such Delivery Point, each as mutually agreed by the Purchaser and the Seller. On the date specified for such purpose in the Confirmation Letter, the Purchaser shall pay to the Seller the Prepaid Price by wire transfer of immediately available funds to the Seller's account No. 3750494727 at Bank of America - Dallas, A.B.A. No. 000000000, provided that the conditions precedent set out in Annex 1 have been satisfied by the Seller and no Event of Default or Event of Change shall have occurred. Prior to the execution and delivery of the Confirmation Letter, the Purchaser shall cause the condition precedent set out on Annex 2 to be satisfied. In consideration of the payment to the Seller of the Prepaid Price, the Seller hereby agrees to sell and deliver, or cause to be delivered to the Purchaser or to the account of the Purchaser, in each Delivery Month, at the Delivery Points, the Required Delivery Quantity of Natural Gas (in the amounts set forth in the Confirmation Confirmation Letter) on the terms and conditions set forth in this Agreement, and the Purchaser hereby agrees to accept delivery of such Natural Gas. Payment of the Prepaid Price shall constitute payment in full of the purchase price of the Natural Gas to be delivered hereunder.
Appears in 1 contract
Sale and Purchase of Natural Gas. On or before June 29 December ___, 2000, the Purchaser and the Seller shall agree upon and execute a Confirmation Letter and agree upon the schedule to the Initial Surety Bond providing for the periodic reductions to the maximum penal sum thereunder. The Confirmation Letter shall specify a mutually acceptable Prepaid Price (which shall be approximately U.S. $650,000,000) $500,000,000), the date on which the Prepaid Price shall be paid (which shall not be later than June 29 December __, 2000), and for each Delivery Month, the Delivery Points, the Required Delivery Quantity, and the amount thereof to be delivered and received at each such Delivery Point, each as mutually agreed by the Purchaser and the Seller. On the date specified for such purpose in the Confirmation Letter, the Purchaser shall pay to the Seller the Prepaid Price by wire transfer of immediately available funds to the Seller's account No. 3750494727 at Bank of America - Dallas, A.B.A. No. 000000000, provided that the conditions precedent set out in Annex 1 have been satisfied by the Seller and no Event of Default or Event of Change shall have occurred. Prior to the execution and delivery of the Confirmation Letter, the Purchaser shall cause the condition precedent set out on Annex 2 to be satisfied. In consideration of the payment to the Seller of the Prepaid Price, the Seller hereby agrees to sell and deliver, or cause to be delivered to the Purchaser or to the account of the Purchaser, in each Delivery Month, at the Delivery Points, the Required Delivery Quantity of Natural Gas (in the amounts set forth in the Confirmation Letter) on the terms and conditions set forth in this Agreement, and the Purchaser hereby agrees to accept delivery of such Natural Gas. Payment of the Prepaid Price shall constitute payment in full of the purchase price of the Natural Gas to be delivered hereunder.
Appears in 1 contract
