Bureau In Kind Crude Helium Sales Contract - Us Department Of The Interior Page 4
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111.18 Crude Helium - The term “crude helium” means a helium-gas mixture containing no
more than ninety-nine (99) percent helium by volume.
1.19 Refined Helium – The term “refined helium” means a helium-gas mixture containing
more than ninety-nine (99) percent helium by volume.
1.20 Helium Storage Contract- The term “Helium Storage Contract” means a current
contract between a person, as defined in the Helium Stewardship Act, 50 U.S.C. § 167, and the Bureau
for the storage and delivery of helium in the Federal Helium System.
1.21 Equivalent amount of crude helium - The term “Equivalent amount of crude helium”
means the amount of crude helium measured at a pressure of 14.65 psia and a temperature of 60 F, and
rounded up to the nearest thousand (1,000) cubic feet, that is equivalent to a specified amount of refined
helium measured at 14.7 psia and 70 F. All helium volumes at 14.7 psia and 70 F will be totaled prior to
converting to 14.65 psia and 60 F. When converting from 14.7 psia and 70 F to 14.65 psia and 60 F,
the volume shall be divided by 1.0158 before any rounding occurs. When converting from 14.65 psia and
60 F to 14.7 psia and 70 F, the volume shall be multiplied by 1.0158 before any rounding occurs.
1.22 Existing Agreement - The term “Existing Agreement” means any written agreement
between the Bureau and Supplier for the purchase of in-kind or equivalent amounts of crude helium from
the Bureau whenever Supplier sells a Major Helium Requirement to a Buyer that is in effect as of the date
that both Supplier and the Bureau executed this Contract.
1.23 Helium Storage Contract Holder - The term “Helium Storage Contract Holder” means a
person, as defined in the Helium Stewardship Act, 50 U.S.C. § 167, who has a Helium Storage Contract
with the Bureau and who is in good standing under that Helium Storage Contract (defined as being able
to accept transfers of helium and being current on all amounts due and payable under the Helium Storage
Contract).
Day - The term “day” means a period of twenty-four (24) consecutive hours beginning
1.24
at 12:00 a.m. and ending at 11:59 a.m. Central Time.
Fiscal Year – The term “fiscal year” means a period of time beginning at 12:00 a.m.
1.25
Central Time on October 1 of each year and ending at 11:59 a.m. Central Time on the following
September 30.
ARTICLE II
Effective Date and Term
2.1 This Contract shall be effective upon execution by both Bureau and Supplier, and shall
remain in effect thereafter for an initial term that shall terminate at 11:59 p.m. on September 30, 2018.
The Bureau and Supplier may renew the Contract following the initial term, on an annual basis. Each
party will notify the other party of its intention to renew this Contract a minimum of six months prior to the
expiration date of this Contract. Unless the Bureau assigns this Contract under Article XII, or Congress
amends the authorities contained in 50 U.S.C. §§ 167 – 167q as they exist on the date of execution of
this Contract, the total duration of this Contract, including the exercise of any options under this section,
will not extend beyond 11:59 p.m. on September 30, 2021.
2.2 If the parties agree to extend this Contract from October 1, 2020 to September 30,
2021, the Bureau may at is sole option determine that helium deliveries made by Supplier after March 31,
2021, will not be subject to the terms of this Contract, in which case (a) the Bureau shall give Supplier
written notice thereof prior to March 1, 2021 and (b) the Bureau will not sell Supplier an Equivalent
amount of crude helium for any helium deliveries made by Supplier after March 31, 2021.
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