Cargill Holidays definition
Cargill Holidays are New Years Day, Presidents Day, Good Friday, Memorial Day, July 4th, Labor Day, Thanksgiving Day, the day after Thanksgiving Day, Christmas Eve Day and Christmas Day (or, with respect to Christmas, the Cargill Holidays may differ from actual Christmas Eve Day and Christmas Day if such days fall on a weekend).
Cargill Holidays means New Years Day, Presidents Day, Good Friday, Memorial Day, July 4th, Labor Day, Thanksgiving Day, the day after Thanksgiving Day, Christmas Eve Day and Christmas Day. Producer acknowledges that Cargill may place its Ethanol in storage rather than selling it to customers due to market conditions. As a result, Cargill may not pay Producer in a given month for all of the Ethanol that Producer delivers to Cargill in such month. If Cargill places any Ethanol from participants in the Marketing Pool Program (as described in Section 9 below) into storage in a given month (including Producer’s Ethanol production in such month pursuant to Producer’s election to participate in the Marketing Pool Program), a pro-rata share of Producer’s Ethanol will be considered to be placed in storage for purposes of calculating Cargill’s payment to Producer for such month. For example, assume that (a) participants in the Marketing Pool Program deliver 10 million gallons of Ethanol to Cargill’s Marketing Pool Program in a month, (b) Cargill places 2 million gallons of such Ethanol into storage, and (c) Producer delivered 1 million gallons of Ethanol to Cargill in such month. Cargill would pay Producer for 800,000 gallons of Ethanol in such month and Cargill would pay Producer for the remaining 200,000 at a later date when Cargill invoiced such Ethanol to its customers. Notwithstanding the foregoing, if, following consultation with Cargill in accordance with Section 1(b), Producer desires that the Ethanol be sold to customers rather than placed in storage, Cargill, at its option, shall (i) sell such Ethanol to its customers rather than placing it in storage, or (ii) place such Ethanol in storage, in which case Section 5.3 shall not be applicable to such Ethanol and Cargill shall pay to Producer the current fair market value of such Ethanol as determined by the Parties, which value shall be deemed to be the “Delivered Price” (for purposes of Exhibit A) for such Ethanol.