Emulsion and Water Handling Agreement (2014)
PJVA recommends that Subclause (b) of Clause 606 of the 2014 Emulsion and Water Handling Agreement 2014 be modified as follows:
Insertion of the phrase “for which the adjustment is required” immediately following the word “Month” in the first line of the paragraph. This Errata will be implemented into future versions of this Agreement.
As such 606(b) should read:
For Crude Oil, the Edmonton Crude Oil Market Price for the Month for which the adjustment is required, adjusted for quality and transportation; for purposes of this clause, “Edmonton Crude Oil Market Price” means the average Crude Oil posted price at Edmonton.
Emulsion and Water Handling Agreement Errata (Sept 2014)
Assignment Clause should read:
Either Party may assign this Agreement, including all rights and liabilities hereunder, at any time by providing the other Party with a fully executed instrument effecting such assignment, provided that no such assignment shall be effective unless the assignee agrees to be bound by the terms of this Agreement.