LEASE OF CAPACITY Sample Clauses

LEASE OF CAPACITY a. Upon and subject to the terms and conditions set forth in this Lease, SPLLC leases all the Pipeline capacity to LaGloria for delivery of crude oil from LaGloria's Nxxxxxxxx Station to SPLLC Bullard Junction. b. Pipeline capacity for LaGloria and other shippers, if any, shall be scheduled and transported ratably on a month-to-month basis such that volumes actually scheduled for delivery out of the Pipeline in any month may vary. c. In addition to the Pipeline, SPLLC shall also provide LaGloria with the use of SPLLC's tankage at Mxxxx Station (tank numbers 992 and 1016), with a shell capacity totaling 140,000 barrels. Nothing contained in this Lease obligates SPLLC to construct, or obtain, new or additional tankage to accommodate or increase the Pipeline capacity. The Pipeline capacity is currently 24,000 barrels of crude oil per day, however, this volume is subject to change and may be reduced due to [***] CONFIDENTIAL TREATMENT REQUESTED regulatory, operational or other capacity changes during the Term of this Lease. SPLLC shall give LaGloria notice in writing in the event the Pipeline capacity is reduced. d. LaGloria shall deliver crude oil to SPLLC at the inlet weld connection to SPLLC's ten-inch, 300 pound scraper trap at LaGloria's Nxxxxxxxx Station at 480 pounds maximum delivery pressure. e. LaGloria shall provide linefill inventories of crude oil to the Pipeline as SPLLC determines necessary to operate the Pipeline at its maximum efficiency, and a minimum of 12,000 barrels of crude oil for each tank at SPLLC's Mxxxx Station. Upon termination of this Lease, the linefill inventories in the Pipeline and the inventories in the storage tanks at SPLLC's Mxxxx Station, if any, shall be delivered to LaGloria, as soon as reasonable, provided that all costs and expenses for such delivery shall be solely borne by LaGloria. f. LaGloria owns 1.9 miles of pipeline from SPLLC's Bullard Junction to LaGloria's Tyler refinery (hereinafter referred to as "Pipeline Two"). La Gxxxxx shall confirm that Pipeline Two complies with the laws, rules and regulations of the local, state and federal agencies, having jurisdiction over this 1.9 miles of Pipeline Two. LaGloria grants SPLLC the right to the exclusive use and operation of Pipeline Two at no cost or expense in connection with the operation of the Pipeline under this Agreement. g. From time to time and upon 48 hours notice, LaGloria may request SPLLC to deliver crude oil to SPLLC's Mxxxx Station. If so requested by L...
Sample 1
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LEASE OF CAPACITY. Fort Xxxxxx shall lease to Lochbuie and Lochbuie shall lease from Fort Xxxxxx a non-exclusive easement for the use of 0.50 cubic feet per second of capacity in the FL station subject to the terms of this Agreement.
Sample 1
LEASE OF CAPACITY. Subject to the terms, conditions and limitations --- ----------------- the forth in this Agreement, each of the INSIGHT Affiliates hereby leases to AT&T for the term of this Agreement (as it may be extended or renewed), on each CFT Network owned by such INSIGHT Affiliate, as applicable, sufficient capacity to enable AT&T to provide Communications Services to Residential Customers, as contemplated by this Agreement, or as otherwise agreed to by the parties, up to the Maximum Capacity.
Sample 1
LEASE OF CAPACITY. Here the word “Lease” has the meaning of ten (10) year period or up to the date of Termination of this PS Agreement from the Date of Acceptance. 2.1. The Pipeline Company shall: a) use best endeavors to provide to CPC, at least 180 (one hundred and eighty) days or such other time period as may be agreed with CPC, prior to Scheduled Acceptance Date, and shall in any event within 15 (fifteen) days of written request from CPC: i. such information and documentation that may be required by CPC for the purpose of obtaining or maintaining any Consents in respect of the Project; ii. manuals, engineering drawings and other documents in reasonable detail including but not limited to those specified in section 1 of Schedule 8; b) Notwithstanding the provisions contained in Clause 2.1(a) within 30 days of the PSA Signature Date provide to CPC a copy of Project Execution Plan. 2.2. The Project Description a) The Pipeline Company shall be responsible for undertaking the Works in accordance with the Specifications, Project Execution Plan, the Terms of Reference and within the timeframe set forth in the Contract Schedule. b) In the event the Pipeline Company fails in timely mobilization for commencement of operations in accordance with the Clause 2.2(a), the Pipeline Company shall be liable to pay liquidated damages at the rate of 0.5% of the Contract Value per week or part thereof of delay subject to maximum of 7.5% of the Contract Value. Such damages shall be determined on and from the date of expiration of the scheduled mobilization period under the Contract Schedule until the date of commencement of Works under this PS Agreement.
Sample 1
LEASE OF CAPACITY. The first sentence of subsection 2.c.of the Lease shall be deleted in its entirety and the use by LaGloria of Plains' tankage at Xxxxx Station (tank numbers 992 and 1016) shall no longer be included a part of the Lease. Pursuant to the provisions of subsection 2.e. of the Lease, the parties agree that LaGloria has already received the inventory in the storage tanks at Plains' Xxxxx Station, except for approximately 4,600 barrels mat still remain in the tanks. Plains and LaGloria will make arrangements within the next sixty (60) days for the delivery of these 4,600 barrels to LaGloria, with all costs and expenses related to such delivery to borne by LaGloria. Upon such delivery, LaGloria will acknowledge in writing its receipt of the entire inventory formerly held in the storage tanks and release Plains from any obligation or liability associated with such inventory. In addition, subsection 2.g. of the Lease shall be deleted in its entirety. 2. SECTION 4 (RENT) Pursuant to the provisions of subsection 4.c. of the Lease, the monthly Rent for the additional Lease Year provided for hereunder shall be [***] per barrel of crude oil received from LaGloria the previous month at Plains' ten-inch 300-pound scraper trap at [***] CONFIDENTIAL TREATMENT REQUESTED LaGloria's Xxxxxxxxx Station, as measured by LaGloria's positive displacement meter, subject to the provisions of paragraph number 3 below. LaGloria shall make payment of the monthly Rent due hereunder as provided for in Section 4 of the Lease. However, on or before December 30, 2004 LaGloria shall provide Plains with either a cash deposit equal to the parties' good faith estimate of the amount of two (2) months Rent under the Lease or provide Plains with an irrevocable letter of credit for such amount in a form and from a bank acceptable to Plains. The term of the letter of credit will run until January 31, 2006. If LaGloria elects to provide a cash deposit to Plains hereunder, Plains will keep the cash deposit in its account for the term of the Lease. The cash deposit will earn interest at the one year Libor rate as quoted in the Money Rates section of the Wall Street Journal on the date the cash deposit is received by Plains from LaGloria. If at the end of the term of the Lease, LaGloria has paid Plains all of the Rent due hereunder, Plains will return the cash deposit to LaGloria within thirty (30) days thereafter, including any interest earned thereon. It is expressly understood by LaGloria that Plains sh...
Sample 1

Related to LEASE OF CAPACITY

  • Assessment of capacity For the purpose of establishing the percentage of the rate to be paid to an employee under this Agreement, the productive capacity of the employee will be assessed in accordance with the Supported Wage System and documented in an assessment instrument by either: (a) the employer and the union in consultation with the employee or, if desired by any of these; or (b) the employer and an accredited Assessor from a panel agreed by the parties to the Agreement and the employee.

  • Contract Capacity The electric power producing capability of the Generating Facility which is committed to Edison.

  • Power and Capacity The Shareholder has the power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby. This Agreement constitutes the Shareholder’s valid, legal and binding obligation and is enforceable against the Shareholder in accordance with its terms, subject, however, as to enforcement, to bankruptcy, insolvency, fraudulent transfer, moratorium and similar laws of general applicability relating to or affecting creditors’ rights;

  • Maximum Capacity The Sick Leave Bank shall accumulate unused Bank days from year to year to a maximum capacity which shall not exceed double the number of eligible employees as defined in the above Section C, Eligibility for Membership.

  • INDEPENDENT CAPACITY The employees or agents of each party who are engaged in the performance of this Agreement shall continue to be employees or agents of that party and shall not be considered for any purpose to be employees or agents of the other party.

  • Legal Capacity All parties to the Mortgage Note and the Mortgage had legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage, and the Mortgage Note and the Mortgage have been duly and properly executed by such parties. The Mortgagor is a natural person;

  • Corporate Capacity The Acquirer has the corporate power, capacity and authority to enter into and complete this Agreement;

  • Shareholder Capacity No Person executing this Agreement who, during the term hereof, is or becomes a director or officer of the Company makes any agreement or understanding herein in his or her capacity as a director or officer of the Company. Each Principal Shareholder signs solely in his, her or its capacity as the record holder and beneficial owner of, or the trustee of a trust whose beneficiaries are the beneficial owners of, Principal Shareholder Shares.

  • Individual Capacity The Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Borrower and its Affiliates as though the Administrative Agent were not an Agent. With respect to the Loans made by it and all obligations owing to it, the Administrative Agent shall have the same rights and powers under this Agreement as any Lender and may exercise the same as though it were not an Agent, and the terms “Required Lenders”, “Lender” and “Lenders” shall include the Administrative Agent in its individual capacity.

  • Financial Capacity (a) Taking into account the Financing Commitment, such Purchaser has, and at the Closing will have, sufficient resources to pay, in cash any and all amounts necessary for it to consummate the transactions contemplated hereby at the Closing, including payment of its Pro Rata Share of the Seller Purchase Price and the Company Purchase Price, and in the case of Purchaser A only, the Additional Company Purchase Price and the Election Purchase Price (to the extent payable hereunder) and all the fees and expenses expressly required to be paid by such Purchaser hereunder without any restrictions to transfer such funds at Closing to the Seller and the Company, as and to the extent required to be paid pursuant to, and subject to the terms of, this Agreement. The Sponsor affiliated with such Purchaser has, and at the Closing will have, sufficient resources to meet its obligations under its Commitment Letter as they become due. (b) As of the date of this Agreement, such Purchaser has delivered to the Seller a true, correct and complete copy of the Commitment Letter provided by its affiliated Sponsor, dated as of the date hereof. Such Commitment Letter has not been amended or modified, and the respective commitments contained in such Commitment Letter have not been withdrawn, terminated or rescinded. Such Commitment Letter (i) is in full force and effect, (ii) constitutes the legal, valid and binding obligation of such Purchaser and the Sponsor party thereto, and (iii) is enforceable by the Seller and the Company against such Purchaser and the Sponsor party thereto, in accordance with its terms, subject to bankruptcy, insolvency, reorganization and other Legal Requirements of general applicability relating to or affecting creditors’ rights and to general equity principles. There are no side letters or other Contracts related to the funding or investing, as applicable, of the applicable Financing Commitment other than such Commitment Letter. There are no conditions precedent to the consummation of such Financing Commitment other than those set forth in such Commitment Letter. As of the date of this Agreement, the Sponsor affiliated with such Purchaser is not subject to bankruptcy proceedings. (c) Notwithstanding anything to the contrary contained herein, in no event shall this Section 4.4 be deemed breached (and no condition set forth in Section 6.3 shall be deemed to have failed as a result of any actual or alleged breach of this Section 4.4), if (notwithstanding any actual or alleged breach), such Purchaser is willing and able to consummate its obligations at the Closing if and when it is otherwise required to do so under the terms and conditions of this Agreement.

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