Commodity Supplier definition
Examples of Commodity Supplier in a sentence
Additionally, the Customer waives any claims which it may have against the Bank in respect of any loss or damage which it, or its officers, employees or agents, may suffer by reason of, or arising out of or in connection with this Agreement, any other Transaction Documents or otherwise (however arising) in connection with or arising from any Tawarruq Arrangement and/or purchase of Commodity from the Commodity Supplier.
The Parties hereby acknowledge and agree that RES shall have no responsibility or liability for the non-performance, inadequate performance, faulty performance or other failure or breach by a Commodity Supplier, Power Purchaser or other third party pursuant to, in connection with or relating to any Commodity Supply Arrangement or Power Sales Arrangement or in any other way related to or affecting the Services or this Agreement.
We irrevocably undertake that upon completion of your purchase from the Commodity Supplier of the Commodity at the Bank’s Purchase Price on the Purchase Date, we will purchase the Commodity from you at the Bank’s Sale Price on the following terms: Commodity: Any Shariah compliant commodity.
On the Effective Date, the Just Energy Entities shall pay each Commodity Supplier an amount equal to such Commodity Supplier’s Commodity Supplier Claim that is an Accepted Claim in full satisfaction of such claims.
Notwithstanding the foregoing covenant, a Commodity Supplier that has its obligations backed by a letter of credit pursuant to (ii) above, is permitted to have a credit limit of up to USD$15,000,000 of obligations unsupported by a letter of credit (each, an “Unsecured Credit Limit”), so long as all such Unsecured Credit Limits of all Commodity Suppliers does not exceed USD$50,000,000 in the aggregate at any time.