No Commingling. 9.3.1 Except (i) to the extent permitted in accordance with Section 6, (ii) in the event that a Change in Law occurs whereby any Governmental Authority has the right to purchase Products in the Tanks and/or to create or hold Liens in any such Products in the Tanks, or otherwise becomes entitled to exercise rights or powers substantially equivalent to the foregoing, or (iii) for Excluded Third-Party Inventory, PRC shall not store any Products owned by PRC or any of its Affiliates or a third party in any Tank without Aron’s prior written consent. ▇▇▇▇ agrees that PRC may commingle Products only in the circumstances and subject to the terms and conditions described and referenced in this Section 9.3. Notwithstanding anything in this Agreement to the contrary, ▇▇▇▇ acknowledges and agrees that PRC may store Excluded Third-Party Inventory in the Tanks. 9.3.2 PRC represents and warrants that, except for inchoate tax Liens and Liens permitted by the Intercreditor Agreement, there is only one third party (including such third party’s successors and assigns) that has a claim to any Excluded Third Party Inventory.
Appears in 3 contracts
Sources: Inventory Intermediation Agreement (PBF Finance Corp), Inventory Intermediation Agreement (PBF Energy Inc.), Inventory Intermediation Agreement (PBF Holding Co LLC)