Exhibit 10.10
FIRST AMENDMENT TO ASSET PURCHASE
AND METHANOL
EXCLUSIVITY
AGREEMENT
THIS FIRST AMENDMENT TO THE ASSET
PURCHASE AND METHANOL EXCLUSIVITY AGREEMENT (the “
Amendment ”) is made this 25 day of February, 2004
between TERRA INDUSTRIES INC. (“ Terra
Industries ”), a Maryland corporation and BMC HOLDINGS
INC. (“ BMC ”), a Delaware corporation, each
having its head offices at 600 Fourth Street, Sioux City, Iowa
(Terra Industries and BMC are together “ Terra
”) and METHANEX METHANOL COMPANY (“
Methanex ”), a Texas partnership having an office at
15301 Dallas Parkway, Suite 1150, Addison, Texas 75001.
BACKGROUND:
|
|
A.
|
The parties
hereto wish to amend their Asset Purchase and Methanol Exclusivity
Agreement dated December 15, 2003 (the “Agreement”) to
shorten the notification period for Methanex to provide a
suspension of supply notice to Terra from 60 days to 30
days.
|
|
|
B.
|
The parties
also wish to amend the Agreement to provide that Methanex shall not
provide a suspension of supply notice to Terra prior to March 15,
2004.
|
AGREEMENT:
NOW THEREFORE, the parties agree as
follows:
|
1.
|
AMENDMENT OF
SECTION 5.3.3 OF THE AGREEMENT
|
1.1 The first paragraph of Section 5.3.3 of the
Agreement is hereby amended to read as follows:
Methanex Suspension of Supply
Notice: At any time
during the Effective Period, Methanex may, in its sole discretion,
elect to have Terra suspend the
