Additional Operator Covenants Sample Clauses
The "Additional Operator Covenants" clause sets out specific obligations and commitments that the operator must adhere to beyond the standard terms of the agreement. These covenants may include requirements such as maintaining certain operational standards, complying with applicable laws, or providing regular reports to the other party. By clearly outlining these extra duties, the clause ensures that the operator's conduct aligns with the expectations of the agreement, thereby reducing the risk of misunderstandings or non-compliance.
Additional Operator Covenants. The Operator hereby:
(a) (i) confirms that it will post at the Terminal such reasonable placards as the Company or the Company Designee, as applicable, requests stating that the Company or the Company Designee is the owner of specific Products held at the Terminal; (ii) agrees that it will take all actions necessary to maintain such placards in place for the Term; and (iii) agrees to furnish documents reasonably acceptable to the Company, the Company Designee and their respective lenders and intermediators and to cooperate with the Company in ensuring and demonstrating that Product titled in the Company’s or the Company Designee’s name shall not be subject to any lien on the Terminal;
(b) acknowledges and agrees that the Company or the Company Designee may file a UCC-1 or other financing statement with respect to the Products handled or throughput at the Terminal, and the Operator shall cooperate with the Company in executing such financing statements as the Company or the Company Designee deems necessary or appropriate;
(c) agrees that, subject to Section 4.3, no loss allowances shall be applied to the Products handled or throughput at the Terminal;
(d) agrees to maintain all necessary leases, easements, licenses and rights-of-way necessary for the operation and maintenance of the Terminal; and
(e) agrees that, in the event of any Product spill, leak or discharge or any other environmental pollution caused by or in connection with the use of the Terminal, the Operator shall promptly commence containment or clean-up operations as required by any Governmental Authorities or Applicable Law or as the Operator deems appropriate or necessary and shall notify or arrange to notify the Company or the Company Designee immediately of any such spill, leak or discharge and of any such operations. The Company and the Company Designee shall take all reasonable steps to cooperate with the Operator in connection with the Operator’s performance of each of the covenants in this Section 10.2, in each case, at the Operator’s sole expense.
Additional Operator Covenants. The Operator hereby: