Addendum 5 to Supply and Offtake Agreement between New Rise Renewables Reno, LLC and Phillips 66 Company

Contract Categories: Business Operations › Supply Agreements
Summary

This addendum, dated March 31, 2022, amends the existing Supply and Offtake Agreement between New Rise Renewables Reno, LLC and Phillips 66 Company. The main change is an extension of the Commencement Date Deadline from July 31, 2022, to December 31, 2022. All other terms and conditions of the original agreement remain unchanged. Both parties have agreed to this amendment by signing the addendum.

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EX-10.37 18 ny20027344x3_ex10-37.htm EXHIBIT 10.37

 

 

Exhibit 10.37

 

ADDENDUM 5

 

This Addendum 5 (the “Addendum”) is made and entered into this 31st day of March, 2022 to that certain SUPPLY AND OFFTAKE AGREEMENT (the “Agreement”) by and between NEW RISE RENEWABLES RENO, LLC (“Rise”), a limited liability company formed under the laws of the state of Delaware, and PHILLIPS 66 COMPANY (“Phillips 66”) a corporation incorporated under the laws of Delaware dated May 23rd, 2017.

 

WHEREAS, unless expressly amended below, the Parties desire that all recitals, definitions, terms and conditions shall remain unchanged and In full force and effect, now, therefore, in consideration of the premises, conditions, term and agreements contained in the Agreement, Rise and Phillips 66 hereby agree to amend the Agreement as follows:

 

1.       Section 2.2.1 of the Agreement is hereby amended as follows:

 

2.2       Term.

 

2.2.1 “Commencement Date Deadline” previously set to occur on or before December 27, 2019 and subsequently extended to July 31, 2022, shall be extended so that the amended Commencement Date Deadline shall be December 31, 2022.

 

[signature page follows]

 

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IN WITNESS WHEREOF, each Party hereto has caused this Addendum to be executed by its duly authorized representative.

 

  PHILLIPS 66 COMPANY
  a Delaware corporation
     
  By: /s/ Mark K. Kelly

 

  Name: Mark K. Kelly

  

  Title: GM, Global Heavies & Receivables Trading

 

  NEW RISE RENEWABLES RENO, LLC
  a Delaware limited liability company
     
  By: /s/ Randy Soule

 

  Name: Randy Soule

  

  Title: Manager

 

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