Common use of Warehouse Charges Clause in Contracts

Warehouse Charges. Charges on CCC-interest cotton will be determined and paid as follows: (1) Receiving Charges - CCC will pay receiving charges on CCC-interest cotton in accordance with the rates specified in the Schedule of Rates in effect at the time the service was performed, provided, that CCC will pay a receiving charge on CCC-loan cotton only if: (a) A receiving charge has not been paid to the warehouse operator by or for the depositor of the CCC-loan cotton, and (b) CCC-loan cotton is either shipped from the warehouse on CCC's instructions, the initial loan period is extended, or CCC acquires title to the cotton. (2) Storage Charges (a) In lieu of section 25 of the Supplement to the Uniform Storage Agreement (CCC-20), as amended, CCC will make quarterly payments based on CCC prepared invoices in accordance with procedures as established by CCC. (b) CCC will pay storage charges on CCC-interest cotton in accordance with rates specified in the Schedule of Rates in effect at the time the service was performed, provided storage charges on CCC-loan cotton will be paid by CCC only if storage charges have not been paid to the warehouse operator by or for the depositor of the CCC-loan cotton, and the CCC-loan cotton is shipped from the warehouse on CCC's instructions, or CCC acquires title to such cotton. However, in the event the initial loan period is extended, CCC will pay the accrued unpaid storage charges at the applicable rates specified in the Schedule of Rates in effect at the time the service was performed. (c) Storage charges are accrued on a monthly basis. If CCC-interest cotton is in a warehouse during part of a month, the storage charges will be prorated for the time the cotton is actually stored by the warehouse operator. (d) Storage charges will be paid by CCC through the storage stop date shown on the loading order when CCC-owned cotton is disposed of by CCC. If any such CCC-owned cotton is rejected prior to shipment from the warehouse, CCC will furnish the warehouse operator a listing of the rejected ▇▇▇▇▇, and such cotton will, for the purposes of determining storage charges, be treated as never having been disposed of by CCC. CCC will pay the warehouse operator an amount equal to the cost of the insurance on such cotton, if any, paid by the warehouse operator for the period from the storage stop date shown on the loading order through the last day of the month in which such cotton is rejected. (e) The rates specified in the Schedule of Rates shall cease to apply to CCC-loan cotton on the date that such cotton is redeemed from the loan and ceases to be CCC-interest cotton.

Warehouse Charges. Charges on CCC-interest cotton will be determined and paid as follows: (1) Receiving Charges - CCC will pay receiving charges on CCC-interest cotton in accordance with the rates specified in the Schedule of Rates in effect at the time the service was performed, provided, that CCC will pay a receiving charge on CCC-loan cotton only if: (a) A receiving charge has not been paid to the warehouse operator by or for the depositor of the CCC-loan cotton, and (b) CCC-loan cotton is either shipped from the warehouse on CCC's instructions, the initial loan period is extended, or CCC acquires title to the cotton. (2) Storage Charges (a) In lieu of section 25 of the Supplement to the Uniform Storage Agreement (CCC-20), as amended, CCC will make quarterly payments based on CCC prepared invoices in accordance with procedures as established by CCC from time to time and made available to the warehouse operator by a "Notice to the Industry." These procedures may change prior to or during the contract year. A copy of the "Notice to the Industry" in effect at any time may be obtained from the Contracting Officer. The procedures set forth in a "Notice to the Industry" will not be effective until thirty (30) days after the "Notice to the Industry" is made available to the warehouse operator. The warehouse operator may terminate the CSA without penalty and request that the CCC-interest cotton be loaded out if the warehouse operator does not agree with the change in procedures. (b) CCC will pay storage charges on CCC-interest cotton in accordance with rates specified in the Schedule of Rates in effect at the time the service was performed, provided storage charges on CCC-loan cotton will be paid by CCC only if storage charges have not been paid to the warehouse operator by or for the depositor of the CCC-loan cotton, and the CCC-loan cotton is shipped from the warehouse on CCC's instructions, or CCC acquires title to such cotton. However, in the event the initial loan period is extended, CCC will pay the accrued unpaid storage charges at the applicable rates specified in the Schedule of Rates in effect at the time the service was performed. (c) Storage charges are accrued on a monthly basis. If CCC-interest cotton is in a warehouse during part of a month, the storage charges will be prorated for the time the cotton is actually stored by the warehouse operator. (d) Storage charges will be paid by CCC through the storage stop date shown on the loading order when CCC-owned cotton is disposed of by CCC. If any such CCC-owned cotton is rejected prior to shipment from the warehouse, CCC will furnish the warehouse operator a listing of the rejected ▇▇▇▇▇, and such cotton will, for the purposes purpose of determining storage charges, be treated as never having been disposed of by CCC. CCC will pay the warehouse operator an amount equal to the cost of the insurance on such cotton, if any, paid by the warehouse operator for the period from the storage stop date shown on the loading order through the last day of the month in which such cotton is rejected. (e) The rates specified in the Schedule of Rates shall cease to apply to CCC-loan cotton on the date that such cotton is redeemed from the loan and ceases to be CCC-interest cotton.