Common use of Custody Transfer and Title Clause in Contracts

Custody Transfer and Title. TLO shall be deemed to have custody of the Product being transported on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time it enters the Refinery from the Pipelines. 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, the Tanks, and the Pipelines shall remain with TRMC at all times. Both Parties acknowledge that this Agreement 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. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement, TRMC acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the Pipelines, except the right to receive, deliver, load, unload and store the Products in the Tanks 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 being transported after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time when it enters the Refinery from delivery flange into the Pipelinesapplicable 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 and risk of loss to all TRMC’s Products received in the Storage Facility, the Tanks, and the Pipelines Facility shall remain with TRMC at all times. Both Parties acknowledge that this Agreement represents 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 AgreementAgreement or any applicable Terminal Service Order. TRMC acknowledges that, notwithstanding anything to the contrary contained in this AgreementAgreement or in any Terminal Service Order, TRMC acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the PipelinesFacility), except the right to receive, deliver, load, unload deliver and store the Products in the Tanks and through the Pipelines as set forth hereinTanks. 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 being transported after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time when it enters the Refinery from delivery flange into the Pipelinesapplicable 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 and risk of loss to all TRMC’s Products received in the Storage Facility, the Tanks, and the Pipelines Facility shall remain with TRMC at all times. Both Parties acknowledge that this Agreement represents 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 AgreementAgreement or any applicable Terminal Service Order. TRMC acknowledges that, notwithstanding anything to the contrary contained in this AgreementAgreement or in any Terminal Service Order, TRMC acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the PipelinesFacility, except the right to receive, deliver, load, unload deliver and store the Products in the Tanks and through the Pipelines as set forth hereinTanks. 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 being transported after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line manifold at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time when it enters the Refinery from delivery flange into the Pipelinesapplicable 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 and risk of loss to all TRMC’s Products received in the each Storage Facility, the Tanks, and the Pipelines Facility shall remain with TRMC at all times. Both Parties acknowledge that this Agreement represents 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 AgreementAgreement or any applicable Terminal Service Order. TRMC acknowledges that, notwithstanding anything to the contrary contained in this AgreementAgreement or in any Terminal Service Order, TRMC acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the PipelinesFacilities), except the right to receive, deliver, load, unload deliver and store the Products in the Tanks and through the Pipelines as set forth hereinTanks. TLO shall retain control of the Storage Facility, including the Tanks, and the Pipelines at all timesFacilities.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product being transported through the Wharf, in the Storage Facility and on the Pipelines to the Storage Facility at the time it enters the PipelineWharf; for other ProductProducts, TLO shall be deemed to have custody where it enters the receiving line at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time it enters the Refinery from the Pipelines. 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, the Tanks, and the Pipelines shall remain with TRMC at all times. Both Parties acknowledge that this Agreement 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. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement, 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 (including the Tanks) and the Pipelines, except the right to receive, deliver, load, unload and store the Products in the Tanks and through the Pipelines as set forth herein. TLO shall retain control of the Storage Facility, including the Tanks, and after Lease Assignment, the Pipelines Wharf and the Pipelines, at all times.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product being transported after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line manifold at the Storage Facility. TRMC Customer shall be deemed to receive custody of the Product at the time when it enters the Refinery from delivery flange into the Pipelinesapplicable pipeline which delivers Product into the Refinery. Upon re-delivery of any Product to TRMCCustomer’s account, TRMC Customer 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 TRMCCustomer’s Products received in the each Storage Facility, the Tanks, and the Pipelines Facility shall remain with TRMC Customer at all times. Both Parties acknowledge that this Agreement represents and any Terminal Service Order represent a bailment of Products by TRMC Customer 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 TRMCCustomer. TRMC Customer hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this AgreementAgreement or any applicable Terminal Service Order. TRMC Customer acknowledges that, notwithstanding anything to the contrary contained in this AgreementAgreement or in any Terminal Service Order, TRMC Customer acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the PipelinesFacility), except the right to receive, deliver, load, unload deliver and store the Products in the Tanks and through the Pipelines as set forth hereinTanks. 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 being transported on Products after they enter TLO’s facilities at the Pipelines Refinery until such time as the Products exit TLO’s facilities at the Refinery and are delivered by TLO to Customer at the Refinery pursuant to this Agreement or pursuant to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time it enters the Refinery from the PipelinesRelated Agreements. Upon re-delivery of any Product to TRMCCustomer’s account, TRMC Customer 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 TRMCof Customer’s Products received in the Storage Facility, the Tanks, and the Pipelines Facility II shall remain with TRMC Customer at all times. Both Parties acknowledge that this Agreement represents and any Terminal Service Order represent a bailment of Products by TRMC Customer 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 TRMCCustomer. TRMC Customer hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this AgreementAgreement or any applicable Terminal Service Order. TRMC Customer acknowledges that, notwithstanding anything to the contrary contained in this AgreementAgreement or in any Terminal Service Order, TRMC Customer acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the PipelinesII), except the right to receive, deliver, load, unload deliver and store the Products in the Tanks and through the Pipelines as set forth hereinTanks. TLO shall retain control of the Storage Facility, including the Tanks, and the Pipelines at all timesFacility II.

Custody Transfer and Title. TLO shall be deemed to have custody of the Product being transported after it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line manifold at the Storage Facility. TRMC TAC shall be deemed to receive custody of the Product at the time when it enters the Refinery from delivery flange into the Pipelinesapplicable pipeline which delivers Product into the Refinery. Upon re-delivery of any Product to TRMCTAC’s account, TRMC TAC 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 TRMCTAC’s Products received in the Storage Facility, the Tanks, and the Pipelines Facility shall remain with TRMC TAC at all times. Both Parties acknowledge that this Agreement represents and any Terminal Service Order represent a bailment of Products by TRMC TAC 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 TRMCTAC. TRMC TAC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this AgreementAgreement or any applicable Terminal Service Order. TRMC TAC acknowledges that, notwithstanding anything to the contrary contained in this AgreementAgreement or in any Terminal Service Order, TRMC TAC acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the PipelinesFacility, except the right to receive, deliver, load, unload deliver and store the Products in the Tanks and through the Pipelines as set forth hereinTanks. TLO shall retain control of the Storage Facility, including the Tanks, and the Pipelines at all times.