Net-Out Agreement definition

Net-Out Agreement means a “net-out agreement” or similar agreement with respect to purchases and sales between an Originator and an Obligor (which is also a supplier to such Originator), pursuant to which amounts payable by such Originator and such Obligor are settled on a net basis.
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Net-Out Agreement means a “net-out agreement”, an “exchange agreement” or similar agreement with respect to purchases and sales between an Originator and an Obligor (which is also a supplier to such Originator), pursuant to which amounts payable by such Originator and such Obligor are settled on a net basis.
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Examples of Net-Out Agreement in a sentence

  • However, in the event that the Parties have entered a Net-Out Agreement, all payments shall be made in accordance with the Net-Out Agreement.

  • On October 26, 2010, Seller, at SXL’s request, met with SXL to discuss the use of SXL Pipeline which has been used to transport Gas Oil from the ▇▇▇▇▇ Refinery located in Tulsa, Oklahoma, to Cushing, Oklahoma, pursuant to the Gas Oil Exchange and Net-Out Agreement by and between ▇▇▇▇▇ Refining & Marketing - Tulsa LLC and Sunoco, Inc.

  • NCRA and its affiliates, Jayhawk Pipeline, L.L.C. and Kaw Pipe Line Company, had in place various arrangements with SemCrude relating to the purchase, sale, exchange and transportation of crude oil and condensate, including, without limitation, a Net-Out Agreement that provided for amounts due and owing to and from SemCrude and NCRA to be “netted-out” on a monthly basis.

  • After effecting the setoff as contemplated by the Net-Out Agreement, NCRA paid the incremental difference owed to SemCrude for both pre-petition and post-petition amounts.

  • In view of its concern about SemCrude’s financial status, on July 21, 2008, NCRA sent SemCrude a demand for adequate assurances of its ability to perform its obligations under the Net-Out Agreement and associated agreements, and suspended its payments to SemCrude.

  • The terms and conditions of this Section shall supercede and replace that certain Net-Out Agreement dated February 1, 1998 by and between the Parties.

  • Since that time, NCRA and SemCrude have cooperated in reconciling all amounts due under the Net-Out Agreement.