Inventory Settlement. Upon expiration or termination of this Agreement, any outstanding inventory imbalance for each Commodity on Company’s account must be eliminated and will be settled in cash within 60 Days of termination at Argus’s Monthly average price for the applicable Commodity for the Month prior to the effective date of such expiration or termination.
Appears in 3 contracts
Samples: Contribution, Conveyance and Assumption Agreement, Terminal Services Agreement (Phillips 66 Partners Lp), Contribution, Conveyance and Assumption Agreement (Phillips 66 Partners Lp)
Inventory Settlement. Upon expiration or termination of this Agreement, any outstanding inventory imbalance for each Commodity on Company’s account must be eliminated and will be settled in cash within 60 Days of termination and will be settled, for each Commodity, at Argus’s Monthly average price for the applicable that Commodity for the Month prior to the effective date of such expiration or termination.
Appears in 2 contracts
Samples: Terminal Services Agreement (Phillips 66 Partners Lp), Terminal Services Agreement (Phillips 66 Partners Lp)