Common use of STORAGE TERMS Clause in Contracts

STORAGE TERMS. 8.1. Maximum allowed storage capacity shall be agreed in the monthly Appendix, but in no event the Operator shall allocate storage at Delivery Point exceeding 50 % of the monthly nominated and accepted volumes. 8.2. Maximum storage period for discharged cargo lots shall not exceed free storage period specified in the relevant Appendix, unless storing of such lot for a longer period was accepted by the Operator or was a result of the Operator’s direct failure to load RTC/vessel on time as per schedule confirmed by the Operator. 8.3. For each cargo lot kept in storage in excess of storage period defined in sub clause 8.2, the Operator shall have the right to charge the Customer extra storage fee in accordance with the rate specified in the Appendix to the Agreement for each metric ton per day based on FIFO rule for the quantity stored at the Operator’s Terminal. 8.4. The Operator shall have the right not to discharge Customer’s vessels / RTCs as per the delivery schedule provided by Customer and confirmed by Operator for cargo that is above allowed storage capacity and is not responsible for any claims that may arise at the Delivery Point, provided that the Operator has duly performed it’s obligations on loading of RTC/ Vessels in accordance with the agreed loading plan. 8.5. In the case of arrest or detainment of RTCs loaded with Customers Cargo at any point en-route, due to any dispute between Azerbaijan and / or Georgia authorities or authorities of other jurisdictions and the Customer, all railway claims and demurrage shall be at the Customer’s cost/account. The Operator shall provide the written notification of such incidents if any to Customer. In such case Customer shall be also liable for storage fees as per Clause 8 in this Agreement. 8.6. Should the Cargo remain in the custody of the Operator due to the Customer’s failure beyond the term specified in the Agreement, the Customer shall indemnify and hold the Operator harmless against all costs and damages in connection with storage of such Cargo, including but not limited to rail tank car demurrages, vessel demurrages and storage fees including those of third parties. The Operator shall inform the Customer in writing to lift the aforementioned Cargo upon expiry or termination of the Agreement. In case Customer fails to lift the aforementioned Cargo within 30 days after such notice, the Operator shall have the right to approach customs and/or other authorities as applicable to transfer the title of the Cargo inventory remaining in custody of the Operator. The Operator shall afterwards have the right to offer such Cargo to at least 3 (three) international oil trading companies, take the best offer and sell the Cargo. The received amount less any outstanding costs and/or damages due to the Operator arising thereof shall be transferred to the Customer.

STORAGE TERMS. 8.1. Maximum allowed storage capacity shall be agreed in the monthly Appendix, but in no event the Operator shall allocate storage at Delivery Point exceeding 50 % of the monthly nominated and accepted volumes. 8.2. Maximum storage period for discharged cargo Caspian vessel lots shall not exceed free storage period specified in the relevant Appendix, unless storing of such lot for a longer period was accepted by the Operator or was a result of the Operator’s direct failure to load RTC/vessel RTC on time as per schedule confirmed by the Operator. 8.3. For each cargo vessel lot kept in storage in excess of storage period defined in sub clause 8.2, the Operator shall have the right to charge the Customer extra storage fee in accordance with the rate specified in the Appendix to the Agreement for each metric ton per day based on FIFO rule for the quantity stored at the Operator’s Terminal. 8.4. The Operator shall have the right not to discharge Customer’s vessels / RTCs as per the delivery schedule provided by Customer and confirmed by Operator for cargo that is above allowed storage capacity and is not responsible for any claims that may arise at the Delivery Point, provided that the Operator has duly performed it’s obligations on loading of RTC/ Vessels RTC in accordance with the agreed loading dispatch plan. 8.5. In the case of arrest or detainment of RTCs loaded with Customers Cargo at any point en-route, due to any dispute between Azerbaijan and / or Georgia authorities or authorities of other jurisdictions and the Customer, all railway claims and demurrage shall be at the Customer’s cost/account. The Operator shall provide the written notification of such incidents if any to Customerany. In such Such case Customer shall be also is liable for storage fees as per Clause 8 in this Agreement. 8.6. Should the Cargo remain in the custody of the Operator due to the Customer’s failure beyond the term specified in the Agreement, the Customer shall indemnify and hold the Operator harmless against all costs and damages in connection with storage of such Cargo, including but not limited to rail tank car demurrages, vessel demurrages and storage fees including those of third parties. The Operator shall inform the Customer in writing to lift the aforementioned Cargo upon expiry or termination of the Agreement. In case Customer fails to lift the aforementioned Cargo within 30 days after such notice, the Operator shall have the right to approach customs and/or other authorities as applicable to transfer the title of the Cargo inventory remaining in custody of the Operator. The Operator shall afterwards have the right to offer such Cargo to at least 3 (three) international oil trading companies, take the best offer and sell the Cargo. The received amount less any outstanding costs and/or damages due to the Operator arising thereof shall be transferred to the Customer.