Common use of Custody Transfer and Title Clause in Contracts

Custody Transfer and Title. TLO shall be deemed to have custody of the Product after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product when it enters the delivery flange into the applicable pipeline which delivers Product into the Refinery. Upon re-delivery of any Product to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title to all TRMC’s Products received in the Storage Facility shall remain with TRMC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Terminal Service Order. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service Order, TRMC acquires no right, title or interest in or to any of the Storage Facility), except the right to receive, deliver and store the Products in the Tanks. TLO shall retain control of the Storage Facility.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product after being transported on the Pipelines to the Storage Facility at the time it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving manifold line at the Storage Facility. TRMC shall be deemed to receive custody of the Product when at the time it enters the delivery flange into Refinery from the applicable pipeline which delivers Product into the RefineryPipelines. Upon re-delivery of any Product to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title and risk of loss to all TRMC’s Products received in the Storage Facility Facility, the Tanks, and the Pipelines shall remain with TRMC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent represents a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Terminal Service OrderAgreement. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service OrderAgreement, TRMC acquires no right, title or interest in or to any of the Storage Facility)Facility (including the Tanks) and the Pipelines, except the right to receive, deliver deliver, load, unload and store the Products in the TanksTanks and through the Pipelines as set forth herein. TLO shall retain control of the Storage Facility, including the Tanks, and the Pipelines at all times.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product when it enters the delivery flange into the applicable pipeline which delivers Product into the Refinery. Upon re-delivery of any Product to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title to all TRMC’s Products received in the Storage Facility shall remain with TRMC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Terminal Service Order. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service Order, TRMC acquires no right, title or interest in or to any of the Storage Facility), except the right to receive, deliver and store the Products in the Tanks. TLO shall retain control of the Storage Facility.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product after Products being transported through the LAR Short Haul Pipelines to the nominated destination at the time it enters TLO’s fixed receiving flange the LAR Short Haul Pipelines and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product when time it enters the delivery flange into the applicable pipeline which delivers Product into the Refinerynominated destination. Upon re-delivery of any Product Products to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product Products after transfer of custody. Title Except as provided in Section 7(b), title and risk of loss to all TRMC’s Products received in at the Storage Facility LAR Short Haul Pipelines shall remain with TRMC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent represents a bailment of Products by TRMC to TLO and not a consignment of Productssame, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Terminal Service OrderAgreement. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service OrderAgreement, TRMC has or acquires no right, title or interest in or to any of the Storage Facility)LAR Short Haul Pipelines, except the right to receive, deliver and store Products through the Products in the TanksPipelines as set forth herein. TLO shall retain control of the Storage FacilityLAR Short Haul Pipelines at all times.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product after being transported through the Wharf, in the Storage Facility and on the Pipelines to the Storage Facility at the time it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on Wharf; for other Products, TLO shall be deemed to have custody where it enters the receiving manifold line at the Storage Facility. TRMC shall be deemed to receive custody of the Product when at the time it enters the delivery flange into Refinery from the applicable pipeline which delivers Product into the RefineryPipelines. Upon re-delivery of any Product to TRMC’s 's account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title and risk of loss to all TRMC’s 's Products received at the Wharf, in the Storage Facility Facility, the Tanks, and the Pipelines shall remain with TRMC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent represents a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Terminal Service OrderAgreement. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service OrderAgreement, and except with respect to the Wharf and the Pipelines during the Interim Period, TRMC has or acquires no right, title or interest in or to any of Wharf, the Storage Facility)Facility (including the Tanks) and the Pipelines, except the right to receive, deliver deliver, load, unload and store the Products in the TanksTanks and through the Pipelines as set forth herein. TLO shall retain control of the Storage Facility, including the Tanks, and after Lease Assignment, the Wharf and the Pipelines, at all times.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product when it enters the delivery flange into the applicable pipeline which delivers Product into the Refinery. Upon re-delivery of any Product to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title to all TRMC’s Products received in the each Storage Facility shall remain with TRMC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Terminal Service Order. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service Order, TRMC acquires no right, title or interest in or to any of the Storage FacilityFacilities), except the right to receive, deliver and store the Products in the Tanks. TLO shall retain control of the Storage FacilityFacilities.