Annual Volumes. By December 15th of each year, PEF shall notify Tejon of the quantity of Annual Volume and Additional Supply, as applicable, to be delivered to Pastoria and to Groundwater Storage for the following calendar year and the anticipated monthly and daily delivery schedule (“Annual Volume Scheduling Notice”). The Annual Volume Scheduling Notice shall constitute an irrevocable commitment to purchase from Tejon the Annual Volume and Additional Supply (if any) in the quantities set forth therein.

[…] Volumes. SELLER shall sell and Deliver to Hawaiian Electric, and Hawaiian Electric shall purchase and receive from SELLER, […] pursuant to the following […] structure:

Purchase Volumes. [Section 3.2] (Purchase Volumes) of the Contract is hereby deleted in its entirety and restated as follows:

Purchase Volumes. For the remainder of the Term, during each Year that this Contract is in effect, SELLER shall sell and Deliver to the Companies, and the Companies shall purchase and receive from SELLER, all Tier 1 LSFO, HSFO, Diesel, and/or ULSD that may be required by the Companies on the islands of Oahu, Hawaii, Maui and Molokai following the notifications and coordination as outlined in [Article VI]. The Companies shall take commercially reasonable steps to receive Product ratably.

At the end of the Term, the “Aggregate Deficiency Volumes” shall be determined by summing up all of the Deficiency Volumes, if any, during the preceding Annual True-Up Periods during the Term. If Aggregate Deficiency Volumes exist, the Term will be extended for up to one year, for the sole purpose of allowing Tapstone to sell to Plains an amount of Crude Oil equal to the Aggregate Deficiency Volumes at the price set forth in [Section 1] above.

Annual. After the end of each fiscal year of Regional, and in any event within 120 days thereafter, # balance sheets and # statements of income of Regional and its Subsidiaries, prepared on a consolidated basis including a Special Purpose Subsidiary; together with:

As used herein, “Specified Volumes” means, with respect to any applicable period described in [Section 9.18], # if the Consolidated Total Net Leverage Ratio as of the last day of the most recently ended Test Period prior to the date of delivery of the applicable Hedging Compliance Certificate is greater than 2.00 to 1.00, 50% of the reasonably anticipated Hydrocarbon production in respect of crude oil from the ​’ total Proved Developed Producing Reserves (as forecast based upon the applicable Reserve Report described in [Section 9.18]), calculated based on daily volumes on an annual basis or # if the Consolidated Total Net Leverage Ratio as of the last day of the most recently ended Test Period prior to the date of delivery of the applicable Hedging Compliance Certificate is less than or equal to 2.00 to 1.00, 33% of the reasonably anticipated Hydrocarbon production in respect of crude oil from the ​’ total Proved Developed Producing Reserves (as forecast based upon the applicable Reserve Report described in [Section 9.18]), calculated based on daily volumes on an annual basis.

The above table is subject to periodic updates during QBR’s and business reviews as actual volumes are realized. Furthermore, OHL and CLIENT agree to discuss this metric in-depth at the first QBR and evaluate the Institution of pain-share/gain-share practices, as well as evaluating actual realized volumes vs. modeled volumes and updating Variable CPU projections and targets accordingly.

It is understood that Swap Agreements in respect of commodities which may, from time to time, “hedge” the same volumes, but different elements of commodity risk thereof, shall not be aggregated together when calculating the foregoing limitations on notional volumes.

Annual Awards. Each Non-Employee Director who # serves on the Board as of the date of any annual meeting of the Company’s stockholders (an “Annual Meeting”) and # will continue to serve as a Non-Employee Director immediately following such Annual Meeting shall be automatically granted, on the date of such Annual Meeting, an award of restricted stock units that have an aggregate fair value on the date of such Annual Meeting of ​ (as determined in accordance with ASC 718 and with the number of shares of common stock underlying such award subject to adjustment as provided in the Equity Plan). The awards described in this [Section 2(a)] shall be referred to as the “Annual Awards.” For the avoidance of doubt, if the Company’s Annual Meeting does not occur by June 30 of each calendar year, each Non-Employee Director shall be automatically granted an Annual Award on June 30.