Common use of Transaction Procedure Clause in Contracts

Transaction Procedure. When, from time to time, Customer and Company verbally agree upon all terms of a Transaction including, but not limited to, determination of Buyer and Seller, Contract Price, DCQ or MaxDQ and MinPQ, Period of Delivery, Delivery Point, amount and type of security to be delivered, and timing for delivery thereof, such Transaction shall be legally binding and enforceable, regardless of whether or not such Transaction has been reduced to written form or signed by the Parties.