Storage Variations. WRB shall bear any losses or gains that may occur while WRB’s Commodities are in storage in the Tanks (such losses or gains, the “Storage Variations”), except to the extent that Storage Variations result from Carrier’s negligence or willful misconduct or the negligence or willful misconduct of Carriers’ employees, agents, contractors or subcontractors. Each Month, Carrier shall determine the physical inventory of Commodities and calculate the Storage Variation. WRB’s inventory of Commodities in storage at the Tanks shall then be adjusted (increased or decreased) each Month to reflect the Storage Variation. HN\1123435.2
Appears in 2 contracts
Sources: Contribution, Conveyance and Assumption Agreement, Contribution, Conveyance and Assumption Agreement (Phillips 66 Partners Lp)