ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENTFranchise Agreement |
|
|
|
You are currently viewing: This Franchise Agreement involves
CITGO Petroleum Corporation. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search Franchise Agreement by:
Exhibit 10.10
ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENT
THIS ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENT is entered into on this 15 day of January, 1996, by and between SSP Partners, P.O. Box 9036, Corpus Christi, Texas 78469 (the “Company”) and CITGO Petroleum Corporation, a Delaware corporation, having offices at 6100 South Yale, Tulsa, Oklahoma 74136 (“CITGO” ).
WHEREAS, the Company and CITGO have entered into a Distributor Franchise Agreement on ______________, 199__, (the “DFA”), and
WHEREAS, CITGO and the Company have entered into a Loan Agreement dated January 15 1996, for a loan of $588,000 from CITGO to the Company (the “Loan”); and
WHEREAS, CITGO and the Company desire to extend the term of the DFA and make certain other modifications to the DFA as set forth herein.
NOW THEREFORE in consideration of the premises and the covenants contained herein CITGO and the Company hereby agree as follows:
1. The term of the DFA is extended to January 31, 2001. Thereafter, the DFA will renew for one year periods unless terminated by the Company upon ninety (90) days written notice prior to the end of the then current term or terminated by CITGO pursuant to the provisions of the Petroleum Marketing Practices Act.
2. Section 9 of the DFA is amended by substituting “15 business days” for “five days” in the first sentence <






