Common use of MonthEnd date Selection Clause in Contracts

MonthEnd date Selection. At a time reasonably close to MonthEnd, Buyer and Seller shall assess the likelihood of Vessels actively transferring Oil and Feedstock in or out of the Storage Facilities at or close to MonthEnd and shall deem the part volume of any Vessel transferring Oil or Feedstock as having occurred in M or M+1 so as to avoid having to determine the Inventory during such transfer of Oil and Feedstock. The “Supplied Volume” shall be the total NSV for all Vessels Supplying Oil and Feedstock during the Month M between such deemed MonthEnds.

MonthEnd date Selection. At a time reasonably close to MonthEnd, Buyer and Seller shall assess the likelihood of Vessels actively transferring Oil and Feedstock in or out of the Storage Facilities at or close to MonthEnd and shall deem the part volume day of any Vessel transferring Oil or Feedstock as having occurred in M or M+1 such MonthEnd so as to avoid having to determine the Inventory during such transfer of Oil and FeedstockOil. The “Supplied Volume” shall be the total NSV recorded by an Independent Inspector(s) for all Vessels Supplying Oil and Feedstock during the Month M between such deemed MonthEnds.