Fuel Oil Purchase Agreement

(h) Notwithstanding the foregoing, Buyer`s recovery from Seller is limited to the actual net resources that Seller receives from such unrelated supplier where the marine fuels supplied by Buyer have been purchased by Seller on a back-to-back basis by a supplier that is not a related business of Seller. (c) Buyer shall regularly provide Seller with financial information or guarantees that Seller deems necessary to support a credit extension. Notwithstanding other applicable laws, including the Single Commercial Code, where Seller has economically reasonable reasons for uncertainty as to Buyer`s creditworthiness or performance under this Agreement, Seller shall notify Buyer in writing in which it requests a level of performance guarantee reasonably defined by Seller, and the buyer must, in accordance with the following conditions: provide the terms and conditions set out in the seller`s written notification. under. “performance protection” means (i) a deposit that seller receives no later than two (2) days from the New York bank after such notification and, in any event, before the accepted delivery date; or (ii) obtain, at Buyer`s expense, no later than two (2) New York Banking Days after such notification, irrevocable standby credit, in a form and term acceptable to Seller, issued by a qualified institution. “qualified institution” means (A) a commercial bank that is not subject to either party and that is organized in a jurisdiction reasonably acceptable to seller, having at least a long-term rating from Standard & Poor`s Ratings Services or its successor and at least an A3 filing rating from Moody`s Investors Services, Inc. or its successor; and (2) has a total capital of at least ten billion dollars. $($10,000,000,000,000); and (3) has not exceeded the internal credit tolerance limits set by the seller at the time of certification; or (B) a bank that is acceptable in its discretion by the Seller. Pending such warranty, Seller may suspend deliveries/deliveries under this Contract, another contract or an agreement between the parties, expedite all amounts between the parties under this or a prior contract in order to be due immediately and payable, and pursue any additional remedies available under the law or under this Contract.

(b) quality. Any claim by Buyer regarding the quality of the fuel delivered must be submitted in writing to Seller by Buyer within thirty (30) calendar days of the date of delivery or the effective date of delivery, whichever is earlier, failing which such claim shall be deemed void and time-barred forever. For quality claims, the buyer relies exclusively on an analysis of the withholding sample made available by the seller at the time of delivery, as provided for in section 8 (b) above and section 9.2 of ISO 4259 for the interpretation of the buyer`s test results. The buyer must immediately make available to the seller the results of the test of the selected sample (laboratory fuel analysis report) so that the seller can properly assess the claim. . . .

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