EXHIBIT 10.30
FIRST AMENDMENT
TO THE
RECEIVABLE(S) PURCHASE AGREEMENT
This First Amendment (this "Amendment") dated the l2th day of January, 2000 by
and between EOTT ENERGY OPERATING LIMITED PARTNERSHIP (the "Seller"), a limited
partnership organized under the laws of Delaware and STANDARD CHARTERED TRADE
SERVICES CORPORATION ("SCTSC"), a company organized under the laws of the State
of Delaware hereby amends the Receivable(s) Purchase Agreement (the "Agreement")
dated 19th day of October, 1999 by and between the Seller and SCTSC. Capitalized
terms used herein, but not otherwise defined herein, shall have the meanings
ascribed to them in the Agreement.
WHEREAS, SCTSC and the Seller are parties to the Agreement, pursuant to which
SCTSC, upon certain terms and conditions, may purchase the Qualified Receivables
owed to the Seller by the Buyer; and
WHEREAS, the Seller has requested, and SCTSC has agreed, to amend certain terms
and conditions of Section 2D of the Agreement;
NOW THEREFORE, the parties hereto agree as follows:
Section 2D, entitled "Excess Costs", is hereby amended by inserting immediately
after the first paragraph therein the following:
Notwithstanding the above, the Seller shall not have the
responsibility to collect or pay any such penalties hereunder (except
for any such penalties actually received by the Seller) for any
portion of the Qualified Receivables deemed Uncollectible (as defined
herein). A Qualified Receivable will be deemed "Uncollectible" if (i)
it has been unpaid for more than 120 days after the due date stated on
the Final Invoice, (ii) it has been written off by SCTSC as
uncollectible or should have been written off in accordance with
SCTSC'S sole and absolute credit determination, (iii) the Buyer
becomes a debtor in bankruptcy proceedings or is otherwise judicially
determined to be insolvent, or (iv) the Buyer acknowledges in writing
that it is insolvent or financially unable to pay such Qualified
Receivable(s).
This Amendment shall become effective immediately and shall apply to all
Qualified Receivable(s) purchased at any time by SCTSC pursuant to the
Agreement, unless amended in writing.
Except as expressly modified herein, the terms and provisions of the Agreement
shall remain in full force and effect.
As used in the Agreement (including any appendix thereto) all other instruments
and documents executed in connection therewith, the term "Agreement" shall mean
the Agreement as amended hereby.
All representations and warranties contained in the Agreement are reaffirmed as
though made on the date hereof.
This Amendment shall be governed by, and construed in accordance with, the laws
of the State of New York.
IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
by their respective officers on the day and year first above written.
EOTT ENERGY OPERATING LIMITED
PARTNERSHIP
By: EOTT ENERGY CORP., Its General
Partner
By: /s/ XXXXX XXXXX
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Name: Xxxxx Xxxxx
Title: Treasurer
STANDARD CHARTERED TRADE STANDARD CHARTERED TRADE
SERVICES CORPORATION SERVICES CORPORATION
By: /s/ XXXXXX XXXXXXXX By: /s/ XXXXXXX X. XXXXX III
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Name: Xxxxxx Xxxxxxxx Name: Xxxxxxx X. Xxxxx III
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Title: Vice President and Manager Title: President and CEO
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