Minimum Storage Capacity definition

Minimum Storage Capacity means aggregate storage capacity of 87,000 barrels.
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Minimum Storage Capacity means the Group A Minimum Storage Capacity and the Group B Minimum Storage Capacity.
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Minimum Storage Capacity means an aggregate usable storage capacity of 1,987,993 Barrels for storage of Crude Oil or Product in the Storage Facilities.
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Examples of Minimum Storage Capacity in a sentence

  • Logistics’ obligations may be temporarily suspended during the occurrence of, and for the entire duration of, a Force Majeure event or interruptions for routine repair and maintenance consistent with industry standards that prevent Logistics from providing the Minimum Throughput Capacity or storing the applicable Minimum Storage Capacity.

  • In the event of the failure of the Logistics Entity to maintain (i) the Pipelines with sufficient capacity to throughput the Minimum Throughput Capacity or (ii) the Tankage with a capacity sufficient to terminal a volume of Crude Oil at least equal to the Minimum Storage Capacity, then either Party shall have the right to call a meeting between executives of both Parties by providing at least two (2) Business Days’ advance written notice.

  • Subject to Force Majeure and interruptions for routine repair and maintenance consistent with industry standards, the Logistics Entity shall maintain (i) the Pipelines with sufficient aggregate capacity to throughput a volume of Crude Oil at least equal to the Minimum Throughput Capacity and (ii) the Tankage with a capacity sufficient to store a volume of Crude Oil at least equal to the Minimum Storage Capacity.

  • At such time as the Logistics Entity is capable of throughputting volumes equal to the full Minimum Throughput Capacity or terminalling volumes equal to the Minimum Storage Capacity, as applicable, the Refining Entity’s obligation to throughput the full Minimum Throughput Commitment and to pay the full Storage Fee shall be restored.

  • In the event of the failure of Logistics to maintain (i) the Terminal with sufficient capacity to throughput the Minimum Throughput Capacity or (ii) the Tankage with a capacity sufficient to store a volume of Materials at least equal to the applicable Minimum Storage Capacity, then either Party shall have the right to call a meeting between executives of both Parties by providing at least two Business Days’ advance written notice.

  • The Logistics Entity’s obligations may be temporarily suspended during the occurrence of, and for the entire duration of, a Force Majeure or interruptions for routine repair and maintenance consistent with industry standards that prevent the Logistics Entity from providing the Minimum Throughput Capacity or storing the Minimum Storage Capacity.

  • The Crude Oil storage capacity provided to the Refining Entity may be temporarily reduced by the Logistics Entity (without any adjustment to the Storage Fee) as a result of repairs and/or maintenance on storage tanks that reduce the storage capacity available in the Tankage, so long as the reduced storage capacity will not result in the inability of the Logistics Entity to provide the Minimum Storage Capacity.

  • Subject to interruptions for Force Majeure events pursuant to Section 3 and for routine repair and maintenance consistent with industry standards, Logistics shall maintain (i) the Terminal with sufficient aggregate capacity to throughput a volume of Materials at least equal to the Minimum Throughput Capacity and (ii) the Tankage with a capacity sufficient to store a volume of Materials at least equal to the applicable Minimum Storage Capacity.

  • Subject to interruptions for Force Majeure events pursuant to Section 5 and for routine repair and maintenance consistent with industry standards, Logistics shall maintain (i) the Terminal with sufficient aggregate capacity to throughput a volume of Materials at least equal to the Minimum Throughput Capacity and (ii) the Tankage with a capacity sufficient to store a volume of Materials at least equal to the applicable Minimum Storage Capacity.

  • In the event of the failure of Logistics to maintain (i) the Terminal with sufficient capacity to throughput the Minimum Throughput Capacity or (ii) the - 23 - Tankage with a capacity sufficient to store a volume of Materials at least equal to the applicable Minimum Storage Capacity, then either Party shall have the right to call a meeting between executives of both Parties by providing at least two Business Days’ advance written notice.


More Definitions of Minimum Storage Capacity

Minimum Storage Capacity means aggregate storage capacity of 600,000 barrels .
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Minimum Storage Capacity means the Group A Minimum Storage Capacity and the Group B Minimum Storage Capacity. “Monthly Expansion Capital Amount” has the meaning set forth in Section 2(l)(iv). “Minimum Throughput Capacity” means an aggregate amount of throughput capacity at the Terminal equal to 60,000 bpd multiplied by the number of calendar days in the Contract Quarter. “Minimum Throughput Commitment” means an aggregate amount of Materials equal to 50,000 bpd multiplied by the number of calendar days in the Contract Quarter. “Notice Period” has the meaning set forth in Section 9(b). “Omnibus Agreement” means that certain amended and restated omnibus agreement dated as of July 26, 2013, among Delek US, on behalf of itself and the other Delek Entities (as defined therein), Refining, Lion Oil Company, the Partnership, Paline Pipeline Company, LLC, SALA Gathering Systems, LLC, Magnolia Pipeline Company, LLC, El Dorado Pipeline Company, LLC, Delek Crude Logistics, LLC, Delek Marketing-Big ▇▇▇▇▇, LLC, Delek Marketing & Supply, LP, Delek Logistics Operating, LLC and the General Partner, as the same may be amended from time to time. “Open Assets” has the meaning set forth in Section 2(q). “Parties” or “Party” has the meaning set forth in the preamble to this Agreement. HOU02:1274125 - 5 - “Partnership” means Delek Logistics Partners, LP, a Delaware limited partnership. “Partnership Change of Control” means Delek US ceases to Control the General Partner. “Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, Governmental Authority or political subdivision thereof or other entity. “PPI” means the Producer Price Index—Commodities—Finished Goods, as reported by the U.S. Bureau of Labor Statistics. “Prime Rate” means the rate of interest quoted in The Wall Street Journal, Money Rates Section as the Prime Rate. “Product” means any refined petroleum products stored and handled under this Agreement in support of Refining’s operations. “Purchase Agreement” means the Asset Purchase Agreement (Tyler Terminal and Tankage) dated as of July 26, 2013 between Refining, as seller, and Logistics, as buyer. “Receiving Party Personnel” has the meaning set forth in Section 13(j)(iv). “Refinery” means Refining’s Crude Oil refinery in Tyler, Texas. “Refining Indemnitees” has the meaning set forth in Section 11(a). “Renewal Term” has the meaning set forth in Section 4(a). “Respondent” shall have the meaning assigned ...
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Related to Minimum Storage Capacity

  • Storage Capacity means any combination of space, injectability and deliverability.

  • Contract Capacity has the meaning set forth in Section 3.1(f).

  • Excess capacity means volume or capacity in a duct, conduit, or support structure other than a utility pole or anchor which can be used, pursuant to the orders and regulations of the Commission, for a pole attachment.

  • Base Capacity Resource means a Capacity Resource as described in Tariff, Attachment DD, section 5.5A(b).

  • Project Capacity means the AC capacity of the project at the generating terminal(s) and to be contracted with MSEDCL for supply from the Solar Power Project.