Common use of Terminal Storage Purchase Orders Clause in Contracts

Terminal Storage Purchase Orders. Gold may place a Purchase Order with Producer for a fixed quantity of Ethanol to be shipped to a terminal location (with respect to such shipment, the “Terminal Storage Ethanol”) unsold to an end customer with the intention of selling such Terminal Storage Ethanol en route or after delivery to the terminal (“Terminal Storage Purchase Orders”). Gold will determine and specify a Pro Forma Price for the Terminal Storage Ethanol in any Terminal Storage Purchase Order, to be used for Producer’s and Gold’s respective accounting purposes, but such Pro Forma Price will not represent the final Delivery Payment for such Terminal Storage Purchase Order. Gold will submit one or more Direct Fixed Price Purchase Orders or Direct Index Price Purchase Order for the Terminal Storage Ethanol when the applicable shipment is en route or after delivery to the terminal (each such Purchase Order, with respect to the Terminal Storage Ethanol, a “Supplemental Purchase Order”). Notwithstanding anything in this Agreement to the contrary, any Delivery Payment for Terminal Storage Ethanol will be paid by check of Gold or by wire transfer (according to Producer’s preference) on or before the earliest to occur of the date that is two Business Days after Gold receives payment for the relevant Terminal Storage Ethanol from Gold’s customer; and the first Business Day that is at least 20 days after the date on which the relevant Terminal Storage Ethanol was actually shipped or transferred to Gold’s end customer. Subject to Gold’s duties pursuant to Section 16(a)(i), in the event that any Terminal Storage Ethanol remains unsold for more than 30 days after delivery to the applicable storage terminal, Gold shall have the right and authority to sell such Terminal Storage Ethanol to such customer or customers as are determined by Gold, and without any notice to or further approval of Producer; provided, that upon consummation of any such sale, Gold shall make a Delivery Payment for such Terminal Storage Ethanol as though such sale were an Accepted Supplemental Purchase Order.

Terminal Storage Purchase Orders. Gold may place a Purchase Order with Producer for a fixed quantity of Ethanol to be shipped to a terminal location (with respect to such shipment, the “Terminal Storage Ethanol”) unsold to an end customer with the intention of selling such Terminal Storage Ethanol en route or after delivery to the terminal (“Terminal Storage Purchase Orders”). Gold will determine and specify a Pro Forma Price for the Terminal Storage Ethanol in any Terminal Storage Purchase Order, to be used for Producer’s and Gold’s respective accounting purposes, but such Pro Forma Price will not represent the final Delivery Payment for such Terminal Storage Purchase Order. Gold will submit one or more Direct Fixed Price Purchase Orders or Direct Index Price Purchase Order for the Terminal Storage Ethanol when the applicable shipment is en route or after delivery to the terminal (each such Purchase Order, with respect to the Terminal Storage Ethanol, a “Supplemental Purchase Order”). Notwithstanding anything in this Agreement to the contrary, any Delivery Payment for Terminal Storage Ethanol will be paid by check of Gold or by wire transfer (according to Producer’s preference) on or before the earliest to occur of the date that is two Business Days after Gold receives payment for the relevant Terminal Storage Ethanol from Gold’s customer; and the first Business Day that is at least 20 days after the date on which the relevant Terminal Storage Ethanol was actually shipped or transferred to Gold’s end customer. Subject to Gold’s duties pursuant to Section 16(a)(i15(a)(i), in the event that any Terminal Storage Ethanol remains unsold for more than 30 days after delivery to the applicable storage terminal, Gold shall have the right and authority to sell such Terminal Storage Ethanol to such customer or customers as are determined by Gold, and without any notice to or further approval of Producer; provided, that upon consummation of any such sale, Gold shall make a Delivery Payment for such Terminal Storage Ethanol as though such sale were an Accepted Supplemental Purchase Order.

Terminal Storage Purchase Orders. Gold may place a Purchase Order with Producer for a fixed quantity of Ethanol to be shipped to a terminal location (with respect to such shipment, the “Terminal Storage Ethanol”) unsold to an end customer with the intention of selling such Terminal Storage Ethanol en route or after delivery to the terminal (“Terminal Storage Purchase Orders”). Gold will determine and specify a Pro Forma Price for the Terminal Storage Ethanol in any Terminal Storage Purchase Order, to be used for Producer’s and Gold’s respective accounting purposes, but such Pro Forma Price will not represent the final Delivery Payment for such Terminal Storage Purchase Order. Gold will submit one or more Direct Fixed Price Purchase Orders or Direct Index Price Purchase Order Orders for the Terminal Storage Ethanol when the applicable shipment is en route or after delivery to the terminal (each such Purchase Order, with respect to the Terminal Storage Ethanol, a “Supplemental Purchase Order”). Notwithstanding anything in this Agreement to the contrary, any Delivery Payment for Terminal Storage Ethanol will be paid by check of Gold or by wire transfer (according to Producer’s preference) on or before the earliest to occur of the date that is two Business Days after Gold receives payment for the relevant Terminal Storage Ethanol from Gold’s customer; and the first Business Day that is at least 20 days after the date on which the relevant Terminal Storage Ethanol was actually shipped or transferred to Gold’s end customer. Subject to Gold’s duties pursuant to Section 16(a)(i15(a)(i), in the event that any Terminal Storage Ethanol remains unsold for more than 30 days after delivery to the applicable storage terminal, Gold shall have the right and authority to sell such Terminal Storage Ethanol to such customer or customers as are determined by Gold, and without any notice to or further approval of Producer; provided, that upon consummation of any such sale, Gold shall make a Delivery Payment for such Terminal Storage Ethanol as though such sale were an Accepted Supplemental Purchase Order.