MWE » Topics » 10. OFFSPEC RP

These excerpts taken from the MWE 10-K filed Mar 2, 2009.

10.   OFFSPEC RP

    In the event MarkWest's Raw Product is contaminated or otherwise fails to conform to the required specifications ("Offspec RP"), either party may timely notify the other party of any such failure, and the parties will mutually agree upon a discounted price for such Offspec RP to reflect (i) its diminution in value, if any, from Raw Product meeting the required specifications hereof or (ii) MarkWest shall pay Dynegy the actual cost incurred by Dynegy in handling such Offspec RP. In addition, MarkWest shall immediately undertake and diligently pursue such acts as may be necessary to correct such failure so as to deliver Raw Product conforming to the required specifications; but nothing contained in this Section shall be construed to affect Dynegy's right, at any time and from time to time, to timely reject any Raw Product not conforming to said specifications and to refuse or suspend receipt until it is established to Dynegy's reasonable satisfaction that subsequent deliveries of Raw Product will conform to said specifications. MarkWest shall be responsible for all reasonable costs and expenses associated with return or proper disposition of timely rejected Offspec RP. MARKWEST AGREES TO INDEMNIFY AND HOLD HARMLESS DYNEGY, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND CONTRACTORS, FROM ALL ACTUAL LOSSES, COSTS, EXPENSES, CLAIMS (INCLUDING, WITHOUT LIMITATION, PERSONAL INJURY OR PROPERTY DAMAGE CLAIMS), DAMAGES, AND CAUSES OF ACTION, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES AND COSTS OF COURT (COLLECTIVELY, THE "LOSSES") INCURRED BY DYNEGY, its OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND CONTRACTOR'S, TO THE EXTENT CAUSED BY OR ARISING OUT OF THE DELIVERY TO DYNEGY OF RAW PRODUCT THAT FAILS TO MEET THE REQUIRED SPECIFICATIONS WHICH ARE UNKNOWINGLY ACCEPTED BY DYNEGY OR ANY OF ITS AFFILIATES OR DESIGNEES.

10.   OFFSPEC RP

    In the event MarkWest's Raw Product is contaminated or otherwise fails to conform to the required specifications ("Offspec RP"), either party may timely notify the other party of any such failure, and the parties will mutually agree upon a discounted price for such Offspec RP to reflect (i) its diminution in value, if any, from Raw Product meeting the required specifications hereof or (ii) MarkWest shall pay Dynegy the actual cost incurred by Dynegy in handling such Offspec RP. In addition, MarkWest shall immediately undertake and diligently pursue such acts as may be necessary to correct such failure so as to deliver Raw Product conforming to the required specifications; but nothing contained in this Section shall be construed to affect Dynegy's right, at any time and from time to time, to timely reject any Raw Product not conforming to said specifications and to refuse or suspend receipt until it is established to Dynegy's reasonable satisfaction that subsequent deliveries of Raw Product will conform to said specifications. MarkWest shall be responsible for all reasonable costs and expenses associated with return or proper disposition of timely rejected Offspec RP. MARKWEST AGREES TO INDEMNIFY AND HOLD HARMLESS DYNEGY, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND CONTRACTORS, FROM ALL ACTUAL LOSSES, COSTS, EXPENSES, CLAIMS (INCLUDING, WITHOUT LIMITATION, PERSONAL INJURY OR PROPERTY DAMAGE CLAIMS), DAMAGES, AND CAUSES OF ACTION, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES AND COSTS OF COURT (COLLECTIVELY, THE "LOSSES") INCURRED BY DYNEGY, its OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND CONTRACTOR'S, TO THE EXTENT CAUSED BY OR ARISING OUT OF THE DELIVERY TO DYNEGY OF RAW PRODUCT THAT FAILS TO MEET THE REQUIRED SPECIFICATIONS WHICH ARE UNKNOWINGLY ACCEPTED BY DYNEGY OR ANY OF ITS AFFILIATES OR DESIGNEES.

10.   OFFSPEC RP





    In
    the event MarkWest's Raw Product is contaminated or otherwise fails to conform to the required specifications ("Offspec RP"), either party may timely notify the other party of any such failure, and
    the parties will mutually agree upon a discounted price for such Offspec RP to reflect (i) its diminution in value, if any, from Raw Product meeting the required specifications hereof or
    (ii) MarkWest shall pay Dynegy the actual cost incurred by Dynegy in handling such Offspec RP. In addition, MarkWest shall immediately undertake and diligently pursue such acts as may be
    necessary to correct such failure so as to deliver Raw Product conforming to the required specifications; but nothing contained in this Section shall be construed to affect Dynegy's right, at any time
    and from time to time, to timely reject any Raw Product not conforming to said specifications and to refuse or suspend receipt until it is established to Dynegy's reasonable satisfaction that
    subsequent deliveries of Raw Product will conform to said specifications. MarkWest shall be responsible for all reasonable costs and expenses associated with return or proper disposition of timely
    rejected Offspec RP.
    MARKWEST AGREES TO INDEMNIFY AND HOLD HARMLESS DYNEGY, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND CONTRACTORS, FROM ALL ACTUAL LOSSES, COSTS,
    EXPENSES, CLAIMS (INCLUDING, WITHOUT LIMITATION, PERSONAL INJURY OR PROPERTY DAMAGE CLAIMS), DAMAGES, AND CAUSES OF ACTION, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES AND COSTS OF COURT
    (COLLECTIVELY, THE "LOSSES") INCURRED BY DYNEGY, its OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND CONTRACTOR'S, TO THE EXTENT CAUSED BY OR ARISING OUT OF THE DELIVERY TO DYNEGY OF RAW PRODUCT THAT FAILS
    TO MEET THE REQUIRED SPECIFICATIONS WHICH ARE UNKNOWINGLY ACCEPTED BY DYNEGY OR ANY OF ITS AFFILIATES OR DESIGNEES.





10.   OFFSPEC RP





    In
    the event MarkWest's Raw Product is contaminated or otherwise fails to conform to the required specifications ("Offspec RP"), either party may timely notify the other party of any such failure, and
    the parties will mutually agree upon a discounted price for such Offspec RP to reflect (i) its diminution in value, if any, from Raw Product meeting the required specifications hereof or
    (ii) MarkWest shall pay Dynegy the actual cost incurred by Dynegy in handling such Offspec RP. In addition, MarkWest shall immediately undertake and diligently pursue such acts as may be
    necessary to correct such failure so as to deliver Raw Product conforming to the required specifications; but nothing contained in this Section shall be construed to affect Dynegy's right, at any time
    and from time to time, to timely reject any Raw Product not conforming to said specifications and to refuse or suspend receipt until it is established to Dynegy's reasonable satisfaction that
    subsequent deliveries of Raw Product will conform to said specifications. MarkWest shall be responsible for all reasonable costs and expenses associated with return or proper disposition of timely
    rejected Offspec RP.
    MARKWEST AGREES TO INDEMNIFY AND HOLD HARMLESS DYNEGY, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND CONTRACTORS, FROM ALL ACTUAL LOSSES, COSTS,
    EXPENSES, CLAIMS (INCLUDING, WITHOUT LIMITATION, PERSONAL INJURY OR PROPERTY DAMAGE CLAIMS), DAMAGES, AND CAUSES OF ACTION, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES AND COSTS OF COURT
    (COLLECTIVELY, THE "LOSSES") INCURRED BY DYNEGY, its OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND CONTRACTOR'S, TO THE EXTENT CAUSED BY OR ARISING OUT OF THE DELIVERY TO DYNEGY OF RAW PRODUCT THAT FAILS
    TO MEET THE REQUIRED SPECIFICATIONS WHICH ARE UNKNOWINGLY ACCEPTED BY DYNEGY OR ANY OF ITS AFFILIATES OR DESIGNEES.





EXCERPTS ON THIS PAGE:

10-K (4 sections)
Mar 2, 2009

RELATED TOPICS for MWE:

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