Section 4. In the event of any termination, assignment, cancellation or failure to renew, whether by mutual agreement or otherwise, a supplier shall within thirty days of such termination, assignment or failure to renew make or cause to be made an offer in good faith to repurchase from the dealer at then current wholesale prices any and all merchantable products purchased by said dealer from the petroleum supplier, provided however, that in such event the petroleum supplier shall have the right to apply the proceeds against any existing indebtedness owed to him by the dealer and further provided that such repurchased obligation is conditioned upon there being no other claims or liens against such products by or on behalf of other creditors of the dealer.
Section: Previous 1 2 3 3A 4 4A 5 5A 6 7 7A 7B 7C 8 9 NextLast modified: September 11, 2015