- 1 - SALES/PURCHASE CONTRACT OF GASOIL SELLER’S REF:7614 (P-G16) BUYER’S REF: DATE: FEB 16, 2011 THIS CONTRACT IS MADE BY AND BETWEEN THE BUYER AND THE SELLER. THE BUYER AGREES TO BUY AND THE SELLER AGREES TO SELL THE UNDER MENTIONED COMMODITY ACCORDING TO THE TERMS AND CONDITIONS AS STIPULATED BELOW: 1) THE SELLER CHINA (HONG KONG) CORPORATION LTD. ADDRESS:. TEL: +86 10 FAX: +86 10 2) THE BUYER PTE LTD. ADDRESS: TEL: + FAX: + TELEX: 3) COMMODITY 50PPM MAX SULFUR CONTENT GASOIL 4) QUANTITY 250,000 BBLS MAX, WITH MINUS FIVE PERCENT AT BUYER'S OPTION 5) DELIVERY DELIVERY SHALL BE FOB AT ONE SAFE PORT OF JAPAN NOMINATED BY SELLER DURING MARCH 5-15, 2006. IT’S POSSIBLE FOR SELLER TO APPOINT NEGISHI AS THE LOADPORT. 6) NOMINATION PROCEDURE BUYER SHALL NOMINATE FIVE (5) DAY DATE RANGE WITHIN THE ELEVEN (11) DAY DATE RANGE AT LATEST TEN (10) DAYS PRIOR TO THE FIRST DAY OF THE FIVE (5) DAY LIFTING RANGE SUBJECT TO SELLER'S ACCEPTANCE， SUCH ACCEPTANCE SHALL NOT BE UNREASONABLY WITHHOLD. AFTER RECEIPT OF THE FIVE-DAY NOMINATION, SELLER SHALL ADVISE BUYER OF A LOADING PORT ON THE NEXT JAPANESE WORKING DAY. BUYER SHALL NARROW SUCH FIVE (5) DAY DATE RANGE DOWN TO THREE (3) DAY DATE RANGE WITHIN THE FIVE (5) DAY DATE RANGE AT LATEST SEVEN (7) DAYS PRIOR TO THE FIRST DAY OF THE THREE (3) DAY DATE RANGE. - 2 - 7) VESSEL PERFORMING VESSEL FOR LOADING PRODUCTS SHALL BE SUBJECT TO TERMINAL’S ACCEPTANCE. BUT TERMINAL SHALL NOT REJECT ANY SUCH NOMINATION UNREASONABLY. BUYER SHALL NOMINATE VESSEL NO LATER THAN THE TIMING OF DECLARATION OF FIVE DAYS DATE RANGE. 8) PRICE THE FOB ONE SAFE PORT OF JAPAN PRICE IN US DOLLARS PER BARREL SHALL BE THE AVERAGE OF ALL MEAN QUOTATIONS FOR GASOIL RE...
