Tank Bottoms Sample Clauses

The 'Tank Bottoms' clause defines the handling and ownership of residual materials, such as sludge or sediment, that accumulate at the bottom of storage tanks during the storage or transfer of liquids. Typically, this clause specifies whether the buyer or seller is responsible for these residues, how they are measured, and any associated costs or disposal obligations. For example, it may state that tank bottoms are excluded from the quantity delivered or that the seller retains ownership and must remove them. The core function of this clause is to allocate responsibility and prevent disputes over the disposition and costs related to tank bottoms, ensuring clarity in transactions involving bulk liquids.
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Tank Bottoms. (a) Commencing on the Closing Date, the volume and quality of East Coast Tank Bottoms and Retained St. Lucia Tank Bottoms (the “Tank Bottom Inventory Count”) shall be assessed by an independent inspector (the “Field Inspector”) appointed by Seller and Purchaser and mutually acceptable to both parties. The Tank Bottom Inventory Count shall be conducted in accordance with the procedures set forth in Exhibit B, including the gauging, temperature determination, sampling, and testing of all tanks at the Terminals which are not included in the Purchased St. Lucia Hydrocarbon Inventory Count. Seller and Purchaser shall be entitled, at their respective own expense, to have Representatives present for the Tank Bottom Inventory Count so long as such Representatives do not interfere with the tasks or responsibilities of the Field Inspector. The parties shall use their respective commercially reasonable efforts to cause the Field Inspector to issue a written report (the “Tank Bottom Inventory Report”) to both Seller and Purchaser within five (5) days after the Closing Date setting forth the Field Inspector’s final determination of the volume and quality of East Coast Tank Bottoms and Retained St. Lucia Tank Bottoms as of the Closing Date. The fees and expenses of the Field Inspector shall be borne by Seller. Ownership of the East Coast Tank Bottoms and Retained St. Lucia Tank Bottoms shall be determined in accordance with the procedures set forth in Exhibit I.
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Tank Bottoms. Shipper will provide a pro rata share of the tank bottoms (including, if applicable the amount of Product required for a floating roof to remain continuously afloat) and a pro rata share of line fill for Product at the Terminal. Shipper’s pro rata share will be determined by Carrier and is subject to change.
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Tank Bottoms. Upon Completion of the Knight Warrior Pipeline (but in no event earlier than sixty (60) Days prior to the Commencement Date), and upon commissioning of any additional tanks, Carrier shall deliver to Shipper a request for Shipper’s pro-rata portion of Carrier’s tank bottoms required to be carried by Shipper. Shipper shall be responsible for up to ten (10%) of the shell capacity of any Carrier tank or tanks designated by Carrier as a Shipper designated tank. Shipper or an affiliate of the Shipper shall provide to Carrier, at no cost to Carrier, Crude Oil required for tank bottoms to facilitate operation of the Knight Warrior Pipeline (the “Tank Bottoms”). Carrier will deliver to Shipper or an affiliate of the Shipper, at the Delivery Point, the Tank Bottoms within thirty (30) Days after Shipper ceases making shipments, provided that the parties may agree, if possible, to make physical delivery of the Tank Bottoms, arrange for a trade of like barrels to Shipper or an affiliate of the Shipper, otherwise financially settle the return of the Tank Bottoms, or a different time period for delivery.
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Tank Bottoms. Customer may be required to carry a pro rata amount of Product inventory at the Terminals in tank bottoms, based on Customer’s pro rata share of throughput capacity, that is not available for lifting during the Term of this Agreement. The total volume of tank bottoms at each Terminal is the number of gallons for each Terminal as described in Exhibit G. At the termination of this Agreement, Customer’s pro-rata share of such tank bottoms shall be returned to Customer for final lifting from the applicable Terminal.
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Tank Bottoms. Premcor will provide any tank bottoms for Inhaul Product at the Terminal.
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Tank Bottoms. Shipper shall provide its pro rata share of total combined tank bottoms of both Cedar City and Las Vegas Terminals.
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Tank Bottoms. CUSTOMER shall be responsible for its proportionate share of the tank bottoms at each Terminal. The volume used for tank bottom allocation is the accumulative total of the tank bottoms for the tank pool for that particular product at the terminal. The portion that is allocated to the CUSTOMER is calculated by dividing the total tank bottom volume for that product by the number of active inventory–holders in the tank. Unless otherwise agreed to by the Parties, tank bottom allocations at a given Terminal will be released in advance of the termination of this Agreement only when all the following events occur: (i) CUSTOMER notifies SFPP, in writing, that it intends to discontinue utilizing such Terminal for the throughput of its products; (ii) CUSTOMER has paid in full all outstanding invoices due to SFPP; and (iii) CUSTOMER has fully satisfied any minimum volume obligations to SFPP for the remaining term of this Agreement.
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Tank Bottoms. On the Closing Date all tank bottoms shall be inventoried, gauged and sampled by representatives of the parties, and shall be tested promptly by an independent testing laboratory mutually chosen by the parties (at their joint expense), to determine the number of barrels of merchantable petroleum product contained therein, in accordance with the procedures set forth in Exhibit 9.4.3. "Merchantable petroleum product" for this purpose means petroleum product that is free from non-petroleum substances such as water or rust. The Purchase Price shall be reduced, dollar-for-dollar, by the fair market value of the shortfall, if any, between 60,750 barrels of merchantable petroleum product and the number of barrels of merchantable petroleum product in the tank bottoms included in the Inventory on the Closing Date. "Fair market value" for these purposes shall be determined by Platts price on the Closing Date for 2% No. 6 oil, New York Harbor Posting. To the extent any monies are due to Purchaser by virtue of this Section 9.4.3, it shall be paid by SPC within two Business Days of receipt of the report from the independent testing laboratory referred to above.
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Related to Tank Bottoms

  • Pipelines Developer shall have no interest in the pipeline gathering system, which gathering system shall remain the sole property of Operator or its Affiliates and shall be maintained at their sole cost and expense.

  • Gas If Customer has selected a Gas Fixed Rate, Customer’s Price will be based on the Fixed Rate(s), plus the Administration Charge, set forth in the Application, which includes RITERATE ENERGY’s compressor fuel and transportation charges, administrative and transaction costs and the Gas Balancing Amount and any Regulatory Charges (defined below).

  • Fuel The Vehicle must be returned with the amount of fuel equal to that at the time of the commencement of the rental. If the Vehicle is returned with less fuel, the difference will be charged to You at a rate of $5.00 per litre (which includes a service component).

  • Delivery Points ‌ Project water made available to the Agency pursuant to Article 6 shall be delivered to the Agency by the State at the delivery structures established in accordance with Article 10.

  • Welding Welding and use of cutting torches or cutoff saws will be permitted only in areas that have been cleared or are free of all material capable of carrying fire. Flammable debris and vegetation must be removed from within a minimum 10-foot radius of all welding and cutting operations. A shovel and a 5-gallon standard backpack water container filled and with handpump attached shall be immediately available for use in the event of a fire start. C8.64 – DEBARMENT AND SUSPENSION CERTIFICATION (3/18). Pursuant to 2 CFR 180 and 2 CFR 417, Purchaser shall certify and obtain certifications from its Subcontractors regarding debarment, suspension, ineligibility, and voluntary exclusion, including additional Subcontractors obtained after award of this contract. “Subcontractors” are participants in lower tier covered transactions. Purchaser may rely upon a certification of a prospective Subcontractor that it is not proposed for debarment under 48 CFR 9.4, debarred, suspended, ineligible, or voluntarily excluded from participating in covered transactions or timber sales, unless Purchaser knows that the certification is erroneous. Purchaser shall keep the certifications of its Subcontractors on file until timber sale Termination Date and any extensions thereof, and will provide a copy at the written request of Contracting Officer. Nothing contained in the foregoing shall be construed to require establishment of a system of records in order to render in good faith the certification required by this Subsection. The knowledge and information of Purchaser is not required to exceed that which is normally possessed by a prudent person in the ordinary course of business dealings. If Purchaser knowingly enters into a timber sale transaction with a person who is proposed for debarment under 48 CFR 9.4, suspended, debarred, ineligible, or voluntarily excluded from participation in covered transactions or timber sales, in addition to other remedies available to the Government, Forest Service may pursue available remedies, including suspension and/or debarment. Contracting Officer shall provide a copy of Forms AD-1047 Certification Regarding Debarment, Suspension and Other Responsibility Matters – Primary Covered Transactions and AD-1048 Certification Regarding Debarment, Suspension, Ineligibility and Voluntary Exclusion – Lower Tier Covered Transactions to the Purchaser. Purchaser shall complete form AD-1047 and provide to the Contracting Officer upon request. Purchaser shall require each subcontractor to complete form AD-1048 and provide to the Contracting Officer upon request.