ASSET INTEGRITY. The purpose is to: - Prevent safety incidents resulting from unintentional release of energy or Hazardous Substances; - Define the requirements in technical standards for design and construction that have a direct relationship to safety; and - Prevent recurrence of major safety incidents by focusing on their root causes and preventative methods. This section applies to: - Automotive LPG, CNG and LNG at CO sites (irrespective of who owns the equipment. Application of the manual requirements relevant to Engineering in Retail includes: • Standards for new HSE Critical equipment. • Minimum standards for existing HSE Critical equipment. • A requirement for each site to have a “statement of fitness” confirming that the LPG, CNG and LNG equipment and operations meet minimum requirements. • Inspection and test programs. • Minimum competence requirements for HSE Critical Roles. There are actions coming from the requirements of this Control Framework Manual: - Prime Contractor and subcontractors working on LPG, CNG and LNG should be trained. - Prime Contractor should verify that all LPG, CNG and LNG equipment have a “Statement of Fitness” Certificate prior to beginning work.
ASSET INTEGRITY. (a) Notwithstanding anything to the contrary set out in this Agreement or in any Transaction Document, in no event shall (i) any representation or warranty of M.A. Hannx xx Sellers set out in this Agreement or in any Transaction Document constitute, or be construed as, a representation or warranty regarding the value and/or collectability of any Accounts Receivable or the value and/or saleability of any Inventory, (ii) any liability, obligation or reserve relating to the value and/or collectability of any Accounts Receivable or the value and/or saleability of any Inventory constitute, or be construed as, an Excluded Liability, (iii) any adjustment to the Purchase Price pursuant to Sections 4.02 or 4.03 hereof be proposed or made based, in whole or in part, on the value and/or collectability of any Accounts Receivable or the value and/or saleability of any Inventory, or (iv) M.A. Hannx xx Sellers have any obligation, responsibility or liability to Buyers, the Stock Companies or their respective officers, directors, employees, stockholders, agents and representatives for any Loss suffered or incurred by all or any of them based upon, arising out of, or resulting from the value and/or collectability of any Accounts Receivable or the value and/or saleability of any Inventory.
(b) Buyers shall not, directly or indirectly, (i) assert any claim or demand, under Section 8.02 or otherwise, (ii) commence, institute or cause to be commenced or instituted, any proceeding of any kind against M.A. Hannx, Xxllers or any other Cadillac Company, or (iii) seek any adjustment to the Purchase Price pursuant to Sections 4.02 or 4.03 hereof, based upon the value and/or collectability of any Accounts Receivable or the value and/or saleability of any Inventory.
(c) Buyers shall not, directly or indirectly, (i) assert any claim or demand, under Section 8.02 or otherwise, (ii) commence, institute, or cause to be commenced or instituted, any proceeding of any kind against MA Hannx, Xxllers or any other Cadillac Company, or (iii) seek any adjustment to the Purchase Price pursuant to Sections 4.02 or 4.03 hereof, based upon a claim that any asset of the Business, other than Inventory or Accounts Receivable, has an actual value less than its book value on the books of the Cadillac Companies at the Closing Date, or that any countervailing reserve should be greater, provided, in each case, that (x) if the asset in question was owned by Sellers at the Balance Sheet Date, its book value wa...
ASSET INTEGRITY. (a) Frac Spreads must comply with the Company’s Asset Integrity standard. Asset Integrity is based on identifying components or systems that are considered critical to health, safety or environmental protection. To demonstrate and ensure that these components have been designed and manufactured to recognized codes and standards and they will perform and will continue to perform their ‘Safety Critical’ functions without posing a potential hazard to HS&E.
(b) Asset integrity will be a validation that the critical systems and components:
(i) Are designed, fabricated, inspected, and installed to applicable codes, standards and specifications resulting in a safe design
(ii) Have been and will be maintained in a safe manner
(iii) Are being modified, changed, upgraded or repaired through a Management of Change (MOC) system (in particular those changes affecting HS or E)
(iv) Are currently operated within prescribed design limits to ensure that the integrity will be preserved
(c) Asset integrity documentation must demonstrate that sound engineering principles and practices, along with appropriate QA/QC techniques were applied during the design, fabrication, installation and operation of the equipment. In this respect documentation verifying that measures were appropriately applied. There are three elements to documentation critical to establishing asset integrity and they are:
(i) Design documentation identifying requirements, specifications and the terms of reference used to build the equipment.
(ii) Review, inspection and safe keeping of test records and documentation generated during the design, construction and installation phases and
(iii) Maintenance, test, inspection and management of change (MOC) records generated during the operating life of all equipment.
(d) Documentation in this respect may consist of approvals, reviews, certificates of conformance and inspection reports. A review of this documentation should demonstrate whether or not the equipment was designed, constructed, installed and maintained according to the relevant specifications, codes and standard. *** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
(e) Critical equipment and components for asset integrity demonstration are:
(i) turbine engines
(ii) gearbox (iii) frac pumps
