Status of Original Agreement. The Parties acknowledge that the Original Agreement shall continue in effect until the Restatement Effective Date hereunder; provided that (i) DCR agrees that it shall not exercise any early termination rights under Section 2.3 or 2.4 of the Original Agreement, (ii) no Step-out Date shall occur under the Original Agreement and (iii) to the extent applicable, all calculations and determinations under the Original Agreement shall be made as if the Initial Term thereunder is the Initial Term as defined in Section 2.1 above.
Appears in 2 contracts
Samples: Inventory Intermediation Agreement (PBF Finance Corp), Inventory Intermediation Agreement (PBF Energy Inc.)
Status of Original Agreement. The Parties acknowledge that the Original Agreement shall continue in effect until the Restatement Effective Date hereunder; provided that (i) DCR PRC agrees that it shall not exercise any early termination rights under Section 2.3 or 2.4 of the Original Agreement, (ii) no Step-out Date shall occur under the Original Agreement and (iii) to the extent applicable, all calculations and determinations under the Original Agreement shall be made as if the Initial Term thereunder is the Initial Term as defined in Section 2.1 above.
Appears in 2 contracts
Samples: Inventory Intermediation Agreement (PBF Finance Corp), Inventory Intermediation Agreement (PBF Energy Inc.)