Letter Agreement Amending Crude Oil Supply and Terminalling Agreement Between EOTT Energy Operating Limited Partnership and Koch Petroleum Group, L.P. (September 14, 2000)
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Summary
EOTT Energy Operating Limited Partnership and Koch Petroleum Group, L.P. have agreed to temporarily amend their existing Crude Oil Supply and Terminalling Agreement for six months starting September 1, 2000. The amendment changes the supply volume price formula and suspends both parties' rights to renegotiate or terminate the agreement based on price for this period. If no further amendment is reached 30 days before the end of the six months, the original terms and rights are reinstated. All other terms of the original agreement remain unchanged.
EX-10.34 4 h81706ex10-34.txt LETTER AGREEMENT - DATED SEPTEMBER 14, 2000 1 EXHIBIT 10.34 * CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT WHICH HAS BEEN FILED SEPARATELY WITH THE SEC. [KOCH LETTERHEAD] September 14, 2000 EOTT Energy Operating Limited Partnership Attention: Mr. Dana Gibbs, President P.O. Box 4666 Houston, Texas ###-###-#### Re: Crude Oil Supply and Terminalling Agreement ("Agreement") dated December 1, 1998 by and between EOTT Energy Operating Limited Partnership ("EOTT") and Koch Petroleum Group, L.P. ("Koch"), EOTT Contract No. 37562 Gentlemen: Effective September 1, 2000, for a period of six months, each party agrees to amend Section 3.1 of the Agreement, Supply Volume Price Formula, in its entirety, to provide: ARTICLE 3 - SUPPLY VOLUME PRICE 3.1 [*] (a) [*] (b) [*] In recognition of this amendment, both parties agree to suspend the right to make any claims regarding any renegotiation of the Supply Volume Price pursuant to Section 8 and termination of the aforementioned Agreement pursuant to Sections 8.3 through 8.6 for a period of six months, effective September 1, 2000. 2 EOTT Energy Operating Limited Partnership September 14, 2000 Page 2 If the parties have not negotiated a subsequent amendment to Section 3.1 of the Agreement thirty (30) days prior to the end of the six month term referenced herein, the claims previously suspended shall be reinstated and each party shall be allowed to exercise any and all rights they may have under the Agreement. Additionally, Section 3.1 shall revert to the language in the original Agreement at the end of the six month term. Should any party claim Uneconomic Market Conditions, as defined in the Agreement, the prices used to calculate such conditions shall be [*]. Any claim for Uneconomic Market Conditions shall be made pursuant to the terms of the original Agreement and the suspension period shall not affect how such calculation is performed. Except as hereby modified, all other terms and conditions of the Agreement, and any amendments hereto, shall remain in full force and effect.
