Inactive Systems Sample Clauses

The 'Inactive Systems' clause defines the treatment and management of systems or components that are not currently operational or in use within a contractual relationship. Typically, this clause outlines the responsibilities for maintaining, decommissioning, or reactivating such systems, and may specify notification requirements or timelines for addressing inactivity. Its core practical function is to ensure clarity regarding the status and handling of inactive systems, thereby preventing disputes or misunderstandings about maintenance obligations, liability, or future use.
Inactive Systems. Meter readings shall be obtained on all inactive metered systems (tank truck rack, rail car rack and pipeline) in advance of the Hydrocarbon Inventory Transfer Times. The IIC will secure these systems by sealing same and/or inserting meter tickets in these meters to ensure that no Product is moved through these systems during the physical inventory process. The last tickets used to record Product sales, incoming receipts, Product shipments and other Product movements will be photocopied and retained by ▇▇▇▇, PRC and the IIC.
View SourceView Similar (6)
Inactive Systems. Meter readings shall be obtained on all inactive metered systems (tank truck rack, rail car rack and pipeline) in advance of the Inventory Transfer Time. The Petroleum Inspection Company will secure these systems by sealing the same and inserting meter tickets in these meters to ensure that no Product is moved through these systems during the physical inventory process and the Petroleum Inspection Company report will clearly identify the date and time. The last tickets used to record Product sales, incoming receipts, Product shipments, and other Product movements will be legibly photocopied and retained by Buyer, Seller, and the Petroleum Inspection Company.
View SourceView Similar (5)
Inactive Systems. Meter readings shall be obtained on all inactive metered systems (tank truck rack and rail car rack) in advance of the Inventory Transfer Time. The Inspection Company will secure these systems by sealing same to ensure that no liquid Products are moved through these systems during the physical inventory process. The non-resetable total amount of product movements as indicated from the flow computers will be provided to and retained by Buyer, Seller and the Inspection Company.
View SourceView Similar (2)

Related to Inactive Systems

  • Disabled Veteran Business Enterprises This section is applicable if Contractor received a disabled veteran business enterprise (“DVBE”) incentive in connection with this Agreement. Contractor’s failure to meet the DVBE commitment set forth in its bid or proposal constitutes a breach of the Agreement. If Contractor used DVBE subcontractor(s) in connection with this Agreement: (i) Contractor must use the DVBE subcontractors identified in its bid or proposal, unless the Judicial Council approves in writing replacement by another DVBE subcontractor in accordance with the terms of this Agreement; and (ii) Contractor must within sixty (60) days of receiving final payment under this Agreement certify in a report to the Judicial Council: (1) the total amount of money Contractor received under the Agreement; (2) the name and address of each DVBE subcontractor to which Contractor subcontracted work in connection with the Agreement; (3) the amount each DVBE subcontractor received from Contractor in connection with the Agreement; and (4) that all payments under the Agreement have been made to the applicable DVBE subcontractors. A person or entity that knowingly provides false information shall be subject to a civil penalty for each violation.

  • Firearm and Ammunition Industries (Tex Gov. Code 2274)

  • Disadvantaged Business Enterprises The sponsor shall not discriminate on the basis of race, color, national origin, or sex, in the award and performance of any DOT-assisted contract covered by 49 CFR Part 26, or in the award and performance of any concession activity contract covered by 49 CFR Part 23. In addition, the sponsor shall not discriminate on the basis of race, color, national origin or sex in the administration of its Disadvantaged Business Enterprise (DBE) and Airport Concessions Disadvantaged Business Enterprise (ACDBE) programs or the requirements of 49 CFR Parts 23 and 26. The sponsor shall take all necessary and reasonable steps under 49 CFR Parts 23 and 26 to ensure nondiscrimination in the award and administration of DOT-assisted contracts, and/or concession contracts. The sponsor’s DBE and ACDBE programs, as required by 49 CFR Parts 26 and 23, and as approved by DOT, are incorporated by reference in this agreement. Implementation of these programs is a legal obligation and failure to carry out its terms shall be treated as a violation of this agreement. Upon notification to the sponsor of its failure to carry out its approved program, the Department may impose sanctions as provided for under Parts 26 and 23 and may, in appropriate cases, refer the matter for enforcement under 18 U.S.C. § 1001 and/or the Program Fraud Civil Remedies Act of 1986 (31 U.S.C. §§ 3801-3809, 3812).

  • Regulated Entities None of the Company, any Person controlling the Company, or any Subsidiary, is an "Investment Company" within the meaning of the Investment Company Act of 1940. The Company is not subject to regulation under the Public Utility Holding Company Act of 1935, the Federal Power Act, the Interstate Commerce Act, any state public utilities code, or any other Federal or state statute or regulation limiting its ability to incur Indebtedness.

  • Regulated Activities The Company shall not itself, nor shall it cause, permit or allow the Bank or any other of its Subsidiaries to (i) engage in any business or activity not permitted by all applicable laws and regulations, except where such business or activity would not reasonably be expected to have a Material Adverse Effect on the Company, the Bank and/or such of its Subsidiaries or (ii) make any loan or advance secured by the capital stock of another bank or depository institution, or acquire the capital stock, assets or obligations of or any interest in another bank or depository institution, in each case other than in accordance with applicable laws and regulations and safe and sound banking practices.