ADES » Topics » Threshold Overage shall have the meaning given in Section 4.1. SECTION 2. CONTRACT TERM

This excerpt taken from the ADES 10-Q filed Nov 7, 2008.

“Threshold Overage” shall have the meaning given in Section 4.1.

SECTION 2. CONTRACT TERM

2.1 Effective Date. The “Effective Date” shall be the date of this Agreement as first set forth in this Agreement.

2.2 Starting Delivery Date. At least sixty (60) days before the date on which Carbon deliveries will commence under this Agreement (the “Starting Delivery Date”), which date shall be a Business Day, Buyer shall provide Notice to Seller of such Starting Delivery Date. The Starting Delivery Date shall be no earlier than February 15, 2009 and deliveries for the calendar year 2009 shall not exceed * in the aggregate. In any event, the Starting Delivery Date shall not be later than April 30, 2009.

2.3 Term. The “Term” of this Agreement shall begin on the Effective Date and shall continue thereafter to and including December 31, 2014. Notwithstanding the foregoing, Buyer shall have the right, but not the obligation, to terminate this Agreement on or after the date on which Buyer has purchased the entire Carbon Purchase Commitment. In such event, Buyer shall have no further liability to Seller hereunder.

2.4 Term Extensions. The initial Term shall be extended for one successive three year period (the “Extension Period”) if the Parties, in each Party’s sole discretion, mutually agree on Carbon pricing and/or price escalation methodology for the Extension Period, on or before sixty (60) days prior to the end of the initial Term.

 

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