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. Customer 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 Customer’s account, 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 to all Customer’s Products received in each Storage Facility shall remain with Customer at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent a bailment of Products by 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 Customer. 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 Agreement or any applicable Terminal Service Order. Customer acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service Order, Customer acquires no right, title or interest in or to 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 it enters TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. Customer TAC 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 CustomerTAC’s account, Customer 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 to all CustomerTAC’s Products received in each the Storage Facility shall remain with Customer TAC at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent a bailment of Products by Customer 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 CustomerTAC. Customer 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 Agreement or any applicable Terminal Service Order. Customer TAC acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service Order, Customer TAC acquires no right, title or interest in or to 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 Products after it enters they enter TLO’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold facilities at the Storage Facility. Refinery until such time as the Products exit TLO’s facilities at the Refinery and are delivered by TLO to Customer shall be deemed at the Refinery pursuant to receive custody of this Agreement or pursuant to the Product when it enters the delivery flange into the applicable pipeline which delivers Product into the RefineryRelated Agreements. Upon re-delivery of any Product to Customer’s account, 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 to all of Customer’s Products received in each Storage Facility II shall remain with Customer at all times. Both Parties acknowledge that this Agreement and any Terminal Service Order represent a bailment of Products by 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 Customer. 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 Agreement or any applicable Terminal Service Order. Customer acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Service Order, Customer acquires no right, title or interest in or to the Storage FacilityFacility II), except the right to receive, deliver and store the Products in the Tanks. TLO shall retain control of the Storage FacilityFacility II.

Custody Transfer and Title. TLO Operator shall be deemed to have custody of the Product after it enters TLOOperator’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. Customer shall be deemed to receive custody of the Product when it enters the delivery flange into the applicable pipeline which delivers Product into the RefineryTank. Upon re-delivery of any Product to Customer’s account, 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 to all Customer’s or Customer Designee’s Products received in each Storage Facility the Tank shall remain with Customer or Customer Designee at all times. Both Parties acknowledge that this Agreement and any Terminal Storage Facility Service Order represent a bailment of Products by Customer or Customer Designee to TLO Operator and not a consignment of Products, it being understood that TLO Operator has no authority hereunder to sell or seek purchasers for the Products of CustomerCustomer or Customer Designee. Customer or Customer Designee 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 Storage Facility Service Order. Customer acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Terminal Storage Facility Service Order, Customer or Customer Designee acquires no right, title or interest in or to any of the Storage Facility)Tank or the associated Pipelines, except the right to receive, deliver and store the Products in the TanksTank and the associated Pipelines. TLO Operator shall retain control of the Storage FacilityTank and the associated Pipelines.