Common use of Obligations at Termination Clause in Contracts

Obligations at Termination. TRMC shall, upon expiration or termination of this Agreement, promptly remove all of its Products from the Storage Facility within thirty (30) days of such termination or expiration. In the event all of the Product is not removed within such thirty (30) day period, TRMC shall be assessed a holdover storage fee, calculated on the same basis as the Storage and Transportation Fee, to all Products held in storage more than thirty (30) days beyond the termination or expiration of this Agreement until such time TRMC’s entire Product is removed from the Tanks and the Storage Facility.

Appears in 3 contracts

Samples: Storage and Transportation Services Agreement (Tesoro Corp /New/), Storage and Transportation Services Agreement (Tesoro Logistics Lp), Storage and Transportation Services Agreement (Tesoro Logistics Lp)

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Obligations at Termination. TRMC shall, upon expiration or termination of this Agreement, promptly remove all of its Products from the Storage Facility and Pipelines within thirty (30) days of such termination or expiration. In the event all of the Product is not removed within such thirty (30) day period, TRMC shall be assessed a holdover storage fee, calculated on the same basis as the Storage Throughput and Transportation FeeTankage Fees, to all Products held in storage more than thirty (30) days beyond the termination or expiration of this Agreement until such time TRMC’s 's entire Product is removed from the Tanks and the Storage Facility.

Appears in 3 contracts

Samples: Terminal Use and Throughput Agreement, Amorco Marine Terminal Use and Throughput Agreement (Tesoro Logistics Lp), Terminal Use and Throughput Agreement (Tesoro Corp /New/)

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