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FIRST AMENDMENT TO ASSET PURCHASE AND METHANOL EXCLUSIVITY AGREEMENT

Exclusivity No Shop Agreement

FIRST AMENDMENT TO ASSET PURCHASE AND METHANOL  EXCLUSIVITY AGREEMENT | Document Parties: TERRA INDUSTRIES INC | BMC HOLDINGS INC | METHANEX METHANOL COMPANY You are currently viewing:
This Exclusivity No Shop Agreement involves

TERRA INDUSTRIES INC | BMC HOLDINGS INC | METHANEX METHANOL COMPANY

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Title: FIRST AMENDMENT TO ASSET PURCHASE AND METHANOL EXCLUSIVITY AGREEMENT
Date: 3/9/2004
Industry: Chemical Manufacturing     Sector: Basic Materials

FIRST AMENDMENT TO ASSET PURCHASE AND METHANOL  EXCLUSIVITY AGREEMENT, Parties: terra industries inc , bmc holdings inc , methanex methanol company
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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


 
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