Accounting for Product/Normal Handling and Evaporation Losses Sample Clauses

Accounting for Product/Normal Handling and Evaporation Losses. As soon as reasonably possible after the end of each calendar year during the term of this Agreement, but not later than March 31, SFPP shall account to CUSTOMER for all of CUSTOMER's petroleum products so received by custody transfer document based on mode of delivery at each terminal during the calendar year just closed. SFPP shall be liable to CUSTOMER, as is hereafter provided, for the net difference between all quantities of CUSTOMER's petroleum products so received at each Terminal and the quantities of all of CUSTOMER's petroleum products in inventory and loaded or shipped out of the Terminal during such calendar year, less: 8.2.1. a tolerance or allowance for the combined gasolines and oxygenates handled hereunder, not to exceed 0.30% of the quantity of the combined gasolines and oxygenates received at all of the Terminals for CUSTOMER’s account during such calendar year, to cover normal handling and evaporation losses; 8.2.2. a tolerance or allowance for distillates handled hereunder, not to exceed 0.125% of the combined quantity of distillates received at all of the Terminals for CUSTOMER’s account during such calendar year, to cover normal handling and evaporation losses; 8.2.3. a tolerance or allowance for biodiesel volumes handled hereunder, not to exceed one fourth of one percent (0.25%) of the quantities of biodiesel so received at each terminal for CUSTOMER’s account during such calendar year, to cover normal handling and evaporation losses; 8.2.4. the pro-rata portion of any losses or shortages of any such petroleum products during such calendar year resulting from casualties not caused or contributed to by the negligence of SFPP, SFPP’s customers, or third parties, or their agents, contractors or employees. In the event that this Agreement is terminated at a time other than the close of a calendar year, SFPP shall be liable for quantities of CUSTOMER’s products lost or unaccounted for during such fractional calendar year, computed in accordance with the provisions hereof. SFPP shall account to CUSTOMER as soon after the termination of this Agreement as is reasonably possible.
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