Examples of LNG Purchase Agreement in a sentence
LNGCo acknowledges that the actual damage to CMI in the event of LNGCo’s failure to enter into a LNG Purchase Agreement is difficult to fix or prove, and the foregoing liquidated damages amount is reasonable and commensurate with the anticipated loss to CMI resulting from such failure and is an agreed upon fee and is not imposed as a penalty.
On 30 June 2022, Huaheng Energy entered into (i) the Piped Gas Purchase Agreement 1A in respect of the sale and purchase of natural gas with GG Renhuai; (ii) Piped Gas Purchase Agreement 1B in respect of the transport of the natural gas bought from GG Renhuai with GG Pipeline; and (iii) the LNG Purchase Agreement in respect of the sale and purchase of LNG with GG Natural Gas.
In the event LNGCo executes the summary of an LNG Opportunity prepared by CMI pursuant to Section 4.1, and thereafter because of the fault of LNGCo, LNGCo fails to enter into the related LNG Purchase Agreement, LNGCo shall pay CMI a sum equal to ninety percent (90%) of the projected gross margin as set forth in the applicable sales plan for such LNG Opportunity as liquidated damages.
Each LNG Purchase Agreement Equity Contribution shall be deposited directly into the applicable Project Revenues Collection Account and shall be applied in accordance with the terms of the Collateral Account Agreement.
If CMI or an Affiliate or other party thereafter enters into an LNG Purchase Agreement pursuant to the relevant LNG Opportunity, CMI and LNGCo will cooperate on a reasonable basis to accommodate the relevant cargo into the storage and sendout plan in an effort to place LNGCo in the same economic position it would have been in if such LNG Purchase Agreement had not been entered into by CMI or an Affiliate or other party.
In the event LNGCo executes the summary of an LNG Opportunity prepared by CMI pursuant to Section 4.1, and thereafter because of thefault of LNGCo, LNGCo fails to enter into the related LNG Purchase Agreement, LNGCo shall pay CMI a sum equal to ninety percent (90%) of the projected gross margin as set forth in the applicable sales plan for such LNG Opportunity as liquidated da mages.
The tribunal also found that Duke LNG breached the LNG Purchase Agreement by failing to perform marketing obligations.
This Agreement, the Joliet Purchase Agreement, the Gulf LNG Purchase Agreement, the MLP Disclosure Letter, the Transition Services Agreement and the Confidentiality Agreement constitute the entire agreement, and supersede all other prior Contracts, both written and oral, among the Parties with respect to the subject matter of this Agreement and thereof.
The reasons for entering into of the Piped Gas Purchase Agreement and the LNG Purchase Agreement by Huaheng Energy with members of the GG Group are primarily due to the geographical location where Huaheng Energy is located at, where GG Group generally provides the most cost effective and reliable sources of supplies of natural gas in Guizhou Province.
CMI shall provide LNGCo updates of CMI activities under this Agreement and the status of all cargos purchased by LNGCo under an LNG Purchase Agreement, as reasonably requested by LNGCo.