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<br />DES:djg-c <br />)ES: dj g-c <br />DES:djg-c <br />DES:djg-c <br />DES:djg-c <br /> <br />11/23/82 <br />02/15/"83R <br />07/29 f.8 3 R <br />ll/20/83R <br />12/08/83R <br /> <br />terminal irrespective of the means of transportation thereof, <br /> <br />except in the case of bunker fuel sold <br /> <br />or provided to vessels at <br /> <br />the Port of Redwood City. <br /> <br />(b) <br /> <br />Minimum Annual Payment. <br /> <br />Lessee agrees and guarantees <br /> <br />to pay to Lessor during each twelve-calendar-month period of the <br /> <br />term of this lease volume-based tariff charges in accordance with <br /> <br />Lessor's current tariff rates as in effect from time to time on a <br /> <br />minimum of 750,000 barrels of petroleum products (the "Minimum <br /> <br />Annual Guaranteed Tariff"). <br /> <br />Payment of the Minimum Annual Guaranteed Tariff shall be <br /> <br />made by Lessee in monthly installments, without prior demand, <br /> <br />deduction or set-off, in an amount equal to the Lessor's published <br /> <br />tariff charge rates in effect at the commencement of the year, <br /> <br />multiplied by one-twelfth (1/12th) of the aforesaid minimum annual <br /> <br />volume. <br /> <br />Said installment payments shall be made on or before the <br /> <br />first day of the month to which such payment applies. <br /> <br />Installment <br /> <br />payments shall be credited against actual tariff charges due from <br /> <br />Lessee to Lessor, and payments of such actual tariff charges in <br /> <br />excess of such installment payment in any month shall be credited <br /> <br />against the total amount of the Minimum Annual Guaranteed Tariff <br /> <br />for the year on an accumulative basis, but credit shall not be <br /> <br />carried over to any other year. <br /> <br />At such time during a year as the <br /> <br />sum of (i) the monthly installments of the Minimum Annual <br /> <br />Guaranteed Tariff paid prior to that time during the year and (ii) <br /> <br />7 <br /> <br />.. "'-r---" . ---y--'-""--"'---" <br />