SELLER
EXERCISES ITS RIGHTS UNDER CLAUSE 7(G) AND WITHHOLDS THE SUPPLY AND DELIVERY OF
THAT CARGO OR REDIRECTS THE BERTHING OF THE VESSEL IN ACCORDANCE WITH CLAUSES
7(G)(I) OR 7(G)(II) (AS APPLICABLE).
9.
PRICE
(A)
THE PRICE TO BE PAID FOR EACH BARREL OF JET
FUEL DELIVERED UNDER THIS CONTRACT ON A DES BASIS WILL BE CALCULATED AS FOLLOWS
IN ORDER TO CALCULATE IN RELATION TO THE QUANTITY OF THE RESPECTIVE CARGO
DELIVERED ITS TOTAL PRICE (THE PURCHASE PRICE):
[REDACTED]
10.
PAYMENT
(A)
ON THE FRIDAY (OR IF THAT FRIDAY IS A DAY
ON WHICH BANKS ARE NOT OPEN FOR THE TRANSACTION OF NORMAL BANKING BUSINESS IN
HONOLULU, NEW YORK AND TOKYO, THEN THE FIRST IMMEDIATELY PRECEDING DAY THAT SUCH
BANKS ARE SO OPEN) OF THE WEEK BEFORE THE DELIVERY OF A CARGO IS SCHEDULED TO
OCCUR IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT THE SELLER MUST SEND THE
BUYER AN INVOICE SETTING OUT THE INITIAL PRICE PAYABLE FOR THAT CARGO CALCULATED
BY MULTIPLYING:
[REDACTED]
(THE INITIAL PURCHASE PRICE).
(B)
IN RELATION TO EACH CARGO, PAYMENT OF THE
INITIAL PURCHASE PRICE FOR THAT CARGO MUST BE MADE:
(I)
ON OR BEFORE THE MONDAY OF THE WEEK
(RUNNING FROM MIDNIGHT OF THE PRECEDING SUNDAY IN HONOLULU, HAWAII, TO MIDNIGHT
THE FOLLOWING SUNDAY) DURING WHICH THE FIRST DAY OF THE DESIGNATED FOUR DAY
DELIVERY WINDOW IN RELATION TO THAT CARGO IS DUE TO BEGIN, EXCEPT THAT IF THAT
MONDAY OR THE TUESDAY OR WEDNESDAY FOLLOWING IT IS A DAY ON WHICH BANKS ARE NOT
OPEN FOR THE TRANSACTION OF NORMAL BANKING BUSINESS IN HONOLULU, NEW YORK AND
TOKYO THEN PAYMENT MUST BE MADE ON OR BEFORE THE LAST DAY (OTHER THAN A SATURDAY
OR SUNDAY) ON WHICH BANKS ARE OPEN FOR THE TRANSACTION OF NORMAL BANKING
BUSINESS IN HONOLULU, NEW YORK AND TOKYO (A BANKING DAY) PRIOR TO THAT MONDAY
(THE DATE SO ASCERTAINED UNDER THIS CLAUSE 10(B)(I) BEING THE PAYMENT DATE); AND
(II)
IN ANY EVENT (AND SUBJECT TO ALL THE TERMS
AND CONDITIONS OF CLAUSE 7) PRIOR TO ITS DELIVERY TO THE BUYER OR THE BUYER'S
NOMINEE; AND
(III)
TO THE SELLER IN AN AMOUNT EQUAL TO THE
INITIAL PURCHASE PRICE SET OUT IN THE SELLER'S INVOICE.
12
(C)
ALL PAYMENTS UNDER THIS CONTRACT MUST BE
MADE BY TELEGRAPHIC TRANSFER IN SAME DAY FUNDS TO THE ACCOUNT OF THE SELLER OR,
AS THE CASE MAY BE, TO THE ACCOUNT OF THE BUYER (THE DETAILS OF WHICH WILL HAVE
BEEN NOTIFIED TO THE OTHER IN WRITING) AND WITHOUT SET-OFF, DEDUCTION OR
WITHHOLDING OF ANY KIND UNLESS SUCH SET-OFF, DEDUCTION OR WITHHOLDING IS
REQUIRED BY LAW IN WHICH CASE THE AMOUNT OF THAT PAYMENT MUST BE INCREASED SO
THAT THE RECIPIENT WILL RECEIVE THE AMOUNT IT WOULD HAVE RECEIVED BUT FOR THAT
SET-OFF, DEDUCTION OR WITHHOLDING, PROVIDED THAT THE AMOUNT OF SUCH PAYMENT WILL
NOT BE INCREASED BY REASON OF SET-OFF, DEDUCTION OR WITHHOLDING OF ANY AMOUNTS
THE BUYER IS NOT OBLIGATED TO PAY OR REIMBURSE TO THE SELLER PURSUANT