Common use of Adjustments of Nominated Volumes Clause in Contracts

Adjustments of Nominated Volumes. Following any adjustment to a Nominated Volume, MSCG shall determine, in consultation with TRC and in a commercially reasonable manner, the difference between the WTI Differentials, FOB Grade Differentials and the Delivery Costs (components B, C and D of the Price formula in Schedule 5) that would have applied to the previously Nominated Volumes relative to the WTI Differentials, FOB Grade Differentials and Delivery Costs that would apply to the Nominated Volumes after any adjustments (including differences applicable to canceled or “unwound” Nominated Volumes) (the “Adjustment Amount”). MSCG shall make a payment to TRC of any positive Adjustment Amount and TRC shall make a payment to MSCG of any negative Adjustment Amount. The Adjustment Amount shall be included on the next following Payment Amount Invoice.

Adjustments of Nominated Volumes. Following any adjustment to a Nominated Volume, MSCG shall determine, in consultation with TRC PBF and in a commercially reasonable manner, the difference between the WTI Differentials, FOB Grade Differentials and the Delivery Costs (components B, C and D of the Price formula in Schedule 5) that would have applied to the previously Nominated Volumes relative to and the WTI Differentials, FOB Grade Differentials and Delivery Costs that would apply to the Nominated Volumes after any adjustments (including differences applicable to canceled or “unwound” Nominated Volumes) (the “Adjustment Amount”). MSCG shall make a payment to TRC PBF of any positive Adjustment Amount and TRC PBF shall make a payment to MSCG of any negative Adjustment Amount. The Adjustment Amount shall be included on the next following Payment Amount Invoice.