Common use of Special Termination by Company Clause in Contracts

Special Termination by Company. If Company determines to totally or partially suspend refinery operations at the Lake Xxxxxxx Refinery for a period of at least 12 consecutive Months, the Parties will negotiate in good faith to agree upon a reduction of the applicable Commitment(s) to reflect such suspension of operations. If the Parties are unable to agree to an appropriate reduction of the applicable Commitment(s), then after Company has made a public announcement of such suspension, Company may provide written Notice to Holdings of its intent to terminate this Agreement and this Agreement will terminate 12 Months following the date such Notice is received by Holdings. In the event Company publicly announces, prior to the expiration of such 12-month period, its intent to resume operations at the Lake Xxxxxxx Refinery, then such Notice shall be deemed revoked and this Agreement shall continue in full force and effect as if such Notice had never been delivered.

Special Termination by Company. If Company determines to (a) operations at the Bayway Refinery are totally or partially suspend refinery operations at the Lake Xxxxxxx Refinery suspended for a period of at least 12 consecutive Months, the Parties will negotiate in good faith to agree upon a reduction of in the applicable Commitment(s) Monthly Fee to reflect such suspension of operations. If the Parties are unable to agree to an appropriate reduction of the applicable Commitment(s)Monthly Fee, then after Company has made a public announcement of such suspensionsuspension has been made, Company may provide written Notice to Holdings of its intent to terminate this Agreement and this Agreement will terminate 12 Months following the date such Notice is received by Holdings. In the event Company publicly announcesof a public announcement, prior to the expiration of such 12-month period, its of an intent to resume operations at the Lake Xxxxxxx Bayway Refinery, then such Notice shall be deemed revoked and this Agreement shall continue unmodified in full force and effect as if such Notice had never been delivered.