Allocation of RINs Sample Clauses

Allocation of RINs. If Xxxxxxxx generates RINs that Xxxxxxxx is entitled to in respect of the Products after delivery by Xxxxx at the Delivery Point, Xxxxx shall not be entitled to any of the benefits associated with such RINs until the later of January 1, 2011 or until the Tulsa Refinery no longer receives a “small refinery” exemption, at which time Xxxxxxxx shall provide Xxxxx with 50% of the benefits associated with such RINs at no cost. In addition, Xxxxx may purchase the 50% of such RINs retained by Xxxxxxxx at a mutually agreed market price. For the avoidance of doubt, Xxxxx shall not be entitled to any RINs to which Xxxxxxxx is not entitled (e.g., RINs generated by any third party at locations other than the Tulsa Refinery).
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Allocation of RINs of the Agreement is hereby deleted in its entirety and the following substituted in lieu thereof:
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Allocation of RINs. (a) Sinclair agrees to sell and deliver to Xxxxx, and Xxxxx agrees to purchase and receive from Sinclair, for each month during the term of this Agreement, commencing on December 1, 2014, all RINs described in Section 10.2 (b), in units of “Gallon-RINs", unassigned ("K" code of "2”), renewable fuel type ("D" code of "6"), as the terms are defined in 40 CFR § 80.1400 et seq. (as amended from time to time, the "Renewable Fuel Standard Regulations"), generated by Sinclair during the then current calendar year and in the quantities, and for the price, and on the other terms and conditions, set forth in this Agreement. Capitalized terms used in this Section 10.2 but not otherwise defined herein shall have the meaning ascribed to such terms in the Renewable Fuel Standard Regulations. From time to time Sinclair may offer to sell to Xxxxx RINs generated during the prior calendar year in lieu of the sale of RINs for the then current calendar year; provided that Xxxxx shall have the right, in its sole discretion, to reject such offer and insist that RINs generated during the then current calendar year be sold pursuant to this Agreement. (b) The volume of RINs to be purchased and sold under this Agreement each calendar month shall be all D6 RINs associated with the blending of ethanol by Sinclair into gasoline purchased from Xxxxx and received via pipeline in any calendar month pursuant to this Agreement. The sale of such RINs is to occur on or before the 20th of the following month. (c) The purchase price for each RIN (the "RINs Purchase Price") shall be equal to the $ USD per Gallon-RINS price determined by the average of the low and high posting for the “OPIS RIN value (cts/gal), Corn Ethanol” as reported each day during the subject month by the Oil Price Information Service ("OPIS") (the “Reference Price”.) The Reference Price used in calculating the RINs Purchase Price shall be the Reference Price for the same month used to determine quantity of gasoline sold pursuant to Section 10.2(b). (d) In the event the supply of gasoline to Sinclair under this Agreement exceeds 10,000 barrels per day of gasoline in any calendar month, then the amount to be paid by Sinclair for such gasoline shall be subject to a credit in such month equal to $0.0050 (50 points) per gallon on all gasoline volumes delivered to Sinclair in the Magellan Pipeline or NuStar Pipeline during such month in excess of 10,000 bpd, until this Agreement is terminated or the dollar value of the 2014 RIN ...
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Related to Allocation of RINs

  • Allocation of Rights (1) Except as provided in paragraph (c) of this clause, HTFC shall have unlimited rights in: (i) Data first produced in the performance of this contract; (ii) Form, fit, and function data delivered under this contract; (iii) Data delivered under this contract (except for restricted computer software) that constitute manuals or instructional and training material for installation, operation, or routine maintenance and repair of items, components, or processes delivered or furnished for use under this contract; and (iv) All other data delivered under this contract unless provided otherwise for limited rights data or restricted computer software in accordance with paragraph (g) of this clause. (2) The Contractor shall have the right to: (i) Assert copyright in data first produced in the performance of this contract to the extent provided in paragraph (c)(1) of this clause; (ii) Use, release to others, reproduce, distribute, or publish any data first produced or specifically used by the Contractor in the performance of this contract, unless provided otherwise in paragraph (d) of this clause; (iii) Substantiate the use of, add, or correct limited rights, restricted rights, or copyright notices and to take other appropriate action, in accordance with paragraphs (e) and (f) of this clause; and (iv) Protect from unauthorized disclosure and use those data that are limited rights data or restricted computer software to the extent provided in paragraph (g) of this clause.

  • Allocation of Risk Licensee acknowledges and agrees that each provision of this Agreement that provides for a disclaimer of warranties or an exclusion or limitation of damages represents an express allocation of risk, and is part of the consideration of this Agreement.

  • Allocation of Liability It is expressly understood and agreed that the Seller shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities, and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Seller that occurred in connection with the ownership or operation of the Property during the period in which the Seller owned the Property prior to the Closing and the Purchaser shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Purchaser that occur in connection with the ownership or operation of the Property during the period in which the Purchaser owns the Property after the Closing. The provisions of this Section 12.1 shall survive the Closing.

  • Allocation of Liabilities The IMS Health Group shall assume all Liabilities with respect to awards granted to IMS Health Employees, IMS Health Retirees, Corporation Retirees and IMS Health Disabled Employees pursuant to the IMS Health Replacement Option Plan. The Corporation Group shall retain all other Liabilities with respect to awards granted pursuant to the Corporation Stock Option Plans (including, but not limited to, awards granted to Corporation Post-Distribution Employees).

  • Allocation of Resources Whenever a disaster causes Vendor to allocate limited resources between or among Vendor's customers, vendor will not provide priority over Prudential to any other customers of Vendor. In addition, in no event will Vendor re-deploy or reassign any vendor Key Employee (as identified and defined in an applicable Engagement Schedule) or any Affected Employee (as identified and defined in an applicable Engagement Schdule) to any other Vendor account in the event of a disaster.

  • Allocation of Funds A. The Faculty Development Committee shall approve all applications for reassignment of duties that do not require additional funding and have been endorsed by the applicant’s Division. B. The Faculty Development Committee shall follow the guidelines established in consultation between the parties in deciding which applications for faculty development funding will be approved.

  • Allocation of Recovery Under the Bond In the event Actual Loss is suffered by any two or more of the Funds, any recovery under the Bond will be allocated among such Funds in the following manner: a. If the Fidelity Coverage exceeds or is equal to the amount of the combined Actual Losses of the Funds suffering Actual Loss, then each such Fund shall be entitled to recover the amount of its Actual Loss. b. If the amount of Actual Loss of each Fund suffering Actual Loss exceeds its Minimum Coverage Requirement and the amount of the Funds' combined Actual Losses exceeds the Fidelity Coverage, then each Fund shall be entitled to recover (i) its Minimum Coverage Requirement, and (ii) to the extent there exists Excess Coverage, the proportion of the Excess Coverage which its Minimum Coverage Requirement bears to the amount of the combined Minimum Coverage Requirements of the Funds suffering Actual Loss; provided, however, that if the Actual Loss of any of such Funds is less than the sum of (i) and (ii) of this subpart (b), then such difference shall be recoverable by the other Funds in proportion to their relative Minimum Coverage Requirements. c. If (i) the amount of Actual Loss suffered by any Fund is less than or equal to its Minimum Coverage Requirement, (ii) the amount of Actual Loss of the other Funds exceeds its or their Minimum Coverage Requirement(s) and (iii) the amount of the combined Actual Losses of the Funds exceeds the Fidelity Coverage, then any Fund which has suffered an amount of Actual Loss less than or equal to its Minimum Coverage Requirement shall be entitled to recover its Actual Loss. If only one other Fund has suffered Actual Loss, it shall be entitled to recover the amount of the Fidelity Coverage remaining. If more than one other Fund has suffered Actual Loss in excess of the remaining coverage, they shall allocate such remaining coverage in accordance with Section III(b) of this Agreement.

  • Limitation on Allocation of Net Loss To the extent that any allocation of Net Loss would cause or increase an Adjusted Capital Account Deficit as to any Holder, such allocation of Net Loss shall be reallocated (x) first, among the other Holders of Partnership Common Units in accordance with their respective Percentage Interests with respect to Partnership Common Units and (y) thereafter, among the Holders of other classes of Partnership Units as determined by the General Partner, subject to the limitations of this Section 6.4.A(vi).

  • Termination for Non-Allocation of Funds Renegotiate the Contract under the revised funding conditions; or

  • Allocation of Responsibility The City assumes no responsibility for the tax consequences of any VEBA contributions made by or on behalf of any member. Each union that elects to require VEBA contributions for the benefit of its members assumes sole responsibility for insuring that the VEBA complies with all applicable laws, including, without limitation, the Internal Revenue Code, and agrees to indemnify and hold the City harmless for any taxes, penalties and any other costs and expenses resulting from such contributions.

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