Monthly Estimates. At least 30 days before the beginning of each month during the Term, Producer will deliver to Bunge a written estimate (each a “Monthly Estimate”) of its anticipated Oil requirements at the Facility for such month, which estimate will include (i) amounts under all then-existing Specific Orders and (ii) any additional amounts requested by Producer for such month. Bunge will review all timely delivered Monthly Estimates and the Parties will mutually agree upon a Total Price (as defined in Section 4.1) applicable to any Oil contemplated by a Monthly Estimate which is not covered by a Specific Order, which Total Price may be agreed at any time subsequent to the delivery of the Monthly Estimate and prior to the first day of the month for which delivery of Oil is requested. In addition, Producer will give Bunge reasonable advance notice of any circumstances that would reasonably be expected to materially affect Oil requirements at the Facility. Subject to the other provisions of this Agreement (including Section 3.1), to the extent that Bunge has agreed upon a Monthly Estimate, Bunge will deliver to Producer the quantity of Oil required by such Monthly Estimate. Notwithstanding anything to the contrary in this Agreement, Bunge will have no obligation to supply Producer with any Oil in a given month in excess of 5% of the quantity stated in the applicable Monthly Estimate.
Appears in 2 contracts
Sources: Oil Feedstock Supply Agreement (Renewable Energy Group, Inc.), Oil Feedstock Supply Agreement (Renewable Energy Group, Inc.)