Common use of Sole Risk Project Clause in Contracts

Sole Risk Project. If: (a) the proposed Expansion Project or New Project has not been approved by the Non-Proposing Party within 180 days of written notice of the proposal being given under clause 2.1; and (b) the proposed Expansion Project or New Project does not materially interfere with any Relevant Existing Project, the Proposing Party (“Proposing Party”) may, by giving written notice to the other party (“Non-Proposing Party”), elect to conduct the proposed Expansion Project or New Project (as applicable) as a sole risk project, in which case the Proposing Party: (c) in the case of a New Project, where it is feasible, shall conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (d) in the case of an Expansion Project relating to an Enterprise Refinery, shall enter into an agreement with the relevant Enterprise Company to conduct the project under the direction of the Proposing Party (a “Sole Risk Project Management Agreement”); or (e) in all other cases, may elect to: (i) conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (ii) enter into a Sole Risk Project Management Agreement with the relevant Enterprise Company. (each a “Sole Risk Project”). (f) Subject to paragraph (g), the construction and operation of all Sole Risk Projects must comply with all applicable law and the standards adopted by the relevant Enterprise Company in place immediately prior to commencement of construction or operation of the Sole Risk Project. Where there are changes to those standards after commencement of the operations of such Sole Risk Project, these standards will be adopted for conduct of the Sole Risk Project to that same extent. (g) Where a Sole Risk Project is not the subject of a Sole Risk Project Management Agreement, and is functionally and operationally separate from the Enterprise Facilities, the Proposing Party may seek the approval of the relevant Enterprise Company to apply a standard (other than the standard adopted by the relevant Enterprise Company) that is a reasonably acceptable industry standard, such approval not to be unreasonably withheld.

Sole Risk Project. If: (a) the proposed Expansion Project or New Project has not been approved by the Non-Proposing Party within 180 days of written notice of the proposal being given under clause 2.1; and (b) the proposed Expansion Project or New Project does not materially interfere with any Relevant Existing Project, the Proposing Party (“Proposing Party”) may, by giving written notice to the other party (“Non-Proposing Party”), elect to conduct the proposed Expansion Project or New Project (as applicable) as a sole risk project, in which case the Proposing Party: (c) in the case of a New Project, where it is feasible, shall conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (d) in the case of an Expansion Project relating to an Enterprise Refinery, shall enter into an agreement with the relevant Enterprise Company to conduct the project under the direction of the Proposing Party (a “Sole Risk Project Management Agreement”); or (e) in all other cases, may elect to: (i) conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (ii) enter into a Sole Risk Project Management Agreement with the relevant Enterprise Company. (each a “Sole Risk Project”). (f) Subject to paragraph (g), the construction and operation of all Sole Risk Projects must comply with all applicable law and the standards adopted by the relevant Enterprise Company in place immediately prior to commencement of construction or operation of the Sole Risk Project. Where there are changes to those standards after commencement of the operations of such Sole Risk Project, these standards will be adopted for conduct of the Sole Risk Project to that same extent. (g) Where a Sole Risk Project is not the subject of a Sole Risk Project Management Agreement, and is functionally and operationally separate from the Enterprise Facilities, the Proposing Party may seek the approval of the relevant Enterprise Company to apply a standard (other than the standard adopted by the relevant Enterprise Company) that is a reasonably acceptable industry standard, such approval not to be unreasonably withheld.

Sole Risk Project. If: (a) the proposed Expansion Project or New Project has not been approved by the Non-Non- Proposing Party within 180 days of written notice of the proposal being given under clause 2.1; and (b) the proposed Expansion Project or New Project does not materially interfere with any Relevant Existing Project, the Proposing Party (“Proposing Party”) may, by giving written notice to the other party (“Non-Non- Proposing Party”), elect to conduct the proposed Expansion Project or New Project (as applicable) as a sole risk project, in which case the Proposing Party: (c) in the case of a New Project, where it is feasible, shall conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (d) in the case of an Expansion Project relating to an Enterprise Refinery, shall enter into an agreement with the relevant Enterprise Company to conduct the project under the direction of the Proposing Party (a “Sole Risk Project Management Agreement”); or (e) in all other cases, may elect to: (i) conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (ii) enter into a Sole Risk Project Management Agreement with the relevant Enterprise Company. (each a “Sole Risk Project”). (f) Subject to paragraph (g), the construction and operation of all Sole Risk Projects must comply with all applicable law and the standards adopted by the relevant Enterprise Company in place immediately prior to commencement of construction or operation of the Sole Risk Project. Where there are changes to those standards after commencement of the operations of such Sole Risk Project, these standards will be adopted for conduct of the Sole Risk Project to that same extent. (g) Where a Sole Risk Project is not the subject of a Sole Risk Project Management Agreement, and is functionally and operationally separate from the Enterprise Facilities, the Proposing Party may seek the approval of the relevant Enterprise Company to apply a standard (other than the standard adopted by the relevant Enterprise Company) that is a reasonably acceptable industry standard, such approval not to be unreasonably withheld.