Tank Heels Sample Clauses

The 'Tank Heels' clause defines specific requirements or restrictions regarding the use or presence of tank heels, which are the residual quantities of liquid left in the bottom of a tank after it has been emptied. This clause typically outlines how these residuals are measured, who is responsible for their removal or management, and how they are accounted for in inventory or delivery calculations. By clearly addressing the handling of tank heels, the clause ensures accurate measurement of delivered or stored product and prevents disputes over product quantities, thereby promoting fairness and transparency in transactions involving bulk liquids.
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Tank Heels. The Tank Heels shall be measured as part (and not separately from) of the Product Inventory.
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Tank Heels. All Tank Heels shall be allocated among storage users on a pro rata basis. Tank Heels cannot be withdrawn from any tank without prior approval of Terminal Owner. A portion of Customer's Product inventory at the Terminals identified as allocated to Tank Heels shall not be available for delivery and Customer shall be responsible for providing all Tank Heels required for operation of such tanks.
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Tank Heels. For Tanks dedicated to and used exclusively for the storage and throughput of PBF’s Product, PBF shall be responsible for maintaining all Tank Heels required for operation of the Tanks. Tank Heels cannot be withdrawn from any Tank without prior approval of Operator. PBF shall pay the fees specified in the applicable Storage Facility Service Order to reserve, on a firm basis, the existing aggregate Shell Capacity of the Tanks in the Storage Facility.
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Tank Heels. A portion of MPC’s Product inventory at the Terminals shall be allocated to tank heels and not be available for delivery. The portion of MPC’s Product inventory allocated to tank heels shall be calculated on an annual basis for each Product at the Terminals separately for MPC and, if designated by MPC, MPC’s customers, according to the following formula: (the average minimum total available storage space at the Terminal for MPC and its designated customers divided by the Total Storage Space) multiplied by the Total Tank Heels. The tank heels for the Terminals shall be returned to MPC or its customers, as applicable, at the end of the Term and may be pulled by MPC or its customers, as applicable, at any time within 120 days of the end of the Term.
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Tank Heels. For Tanks dedicated to and used exclusively for the storage and throughput of PBF Holding’s Crude Oil, PBF Holding shall be responsible maintaining all Tank Heels required for operation of such Tanks. Tank Heels cannot be withdrawn from any Tank without prior approval of TVPC.
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Related to Tank Heels

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