Vermont Statutes Title 9 Sec. 4105
Terms Used In Vermont Statutes Title 9 Sec. 4105
- Agreement: is a ny written agreement between a petroleum supplier and a gasoline dealer under which the gasoline dealer is granted the right to use a trademark, trade name, service mark, or other identifying symbol or name owned by the supplier. See
- Dealer: means any person who is not a petroleum supplier engaged in the retail sale of gasoline to the motoring public in the State under agreements entered into with a petroleum supplier. See
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
- Supplier: means any person engaged in the sale, consignment, or distribution of petroleum products to retail outlets. See
§ 4105. Repurchase by supplier upon termination
In the event of any termination, cancellation, or refusal to renew, whether by mutual agreement or otherwise, a supplier shall 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 supplier; provided, however, that in such event the supplier shall have the right to apply the proceeds against any existing indebtedness owed to him or her by the dealer and further provided that such repurchase obligation is conditioned upon there being no other claims or liens against such products by or on behalf of other creditors of the dealer. Any deposit held by the supplier is to be returned to said dealer within a reasonable period from the date of termination, cancellation, or refusal to renew the agreement or lease, in the event of no prior claims or liens. (Added 1975, No. 83, § 1.)