Common use of EPT Clause in Contracts

EPT. a report setting forth (i) the actual volumes of Crude Oil (the “Refinery Volumes”) delivered into and withdrawn out of each Refinery tank on the immediately prior days and total inventory levels in each Refinery tank, in each case based on the best available information, including daily tank gauging reports and other relevant Refinery measurements and (ii) all sales of Crude Oil to third parties (such report, the “Daily Report of Refinery Volumes”). The Refinery Volumes shall be subject to subsequent adjustment as may be necessary to reflect any additional or more accurate measurement information.

Appears in 3 contracts

Samples: Oil Acquisition Agreement (PBF Energy Inc.), Oil Acquisition Agreement (PBF Energy Inc.), Oil Acquisition Agreement (PBF Energy Inc.)

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EPT. a report setting forth (i) the actual volumes of Crude Oil (the “Refinery Volumes”) delivered into and withdrawn out of each Refinery tank on the immediately prior days and total inventory levels in each Refinery tank, in each case based on the best available information, including daily tank gauging reports and other relevant Refinery measurements measurements, and (ii) all sales of Crude Oil to third parties (such report, the “Daily Report of Refinery Volumes”). The Refinery Volumes shall be subject to subsequent adjustment as may be necessary to reflect any additional or more accurate measurement information.

Appears in 1 contract

Samples: Acquisition Agreement (PBF Energy Inc.)

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