Common use of Pipeline Buy/Sell Transactions Clause in Contracts

Pipeline Buy/Sell Transactions. If any of the Pipelines on which MSCG ships Crude Oil to the Delivery Locations refuses to recognize MSCG’s title to the Crude Oil, the Parties shall enter into a buy/sell agreement under which MSCG will sell all volumes of Crude Oil that it desires to ship on such Pipeline to TRC as they pass the inlet flange of the Pipeline or its gathering system and MSCG will purchase from TRC such volumes of Crude Oil as they pass the exit flange of such Pipeline or its gathering system. The Parties will mutually agree upon the price for such sales, provided that the price for each sale from MSCG to TRC will equal the price for the corresponding sale from TRC to MSCG. Unless MSCG pays the transportation costs to the relevant Pipeline, the costs of shipping the relevant volumes on the Pipeline will be deducted from the price paid by MSCG for MSCG’s purchase from TRC. Any amounts payable in connection with a Pipeline buy/sell agreement will be included on the next Payment Amount Invoice delivered after MSCG’s determination of such amount. The Parties have entered into a Pipeline buy/sell agreement on the Enbridge North Dakota Line at the prices and terms set forth in Schedule 9 hereto.

Pipeline Buy/Sell Transactions. If any of the Pipelines on which MSCG ships Crude Oil to the Delivery Locations refuses to recognize MSCG’s title to the Crude Oil, the Parties shall enter into a buy/sell agreement under which MSCG will sell all volumes of Crude Oil that it desires to ship on such Pipeline to TRC PBF as they pass the inlet flange of the Pipeline or its gathering system and MSCG will purchase from TRC PBF such volumes of Crude Oil as they pass the exit flange of such Pipeline or its gathering system. The Parties will mutually agree upon the price for such sales, provided that the price for each sale from MSCG to TRC PBF will equal the price for the corresponding sale from TRC PBF to MSCG. Unless If MSCG pays the transportation costs to the relevant Pipeline, the costs of shipping the relevant volumes on the Pipeline will be deducted from the price paid by MSCG for MSCG’s purchase from TRCPBF. Any amounts payable in connection with a Pipeline buy/sell agreement will be included on the next Payment Amount Invoice delivered after MSCG’s determination of such amount. The Parties have TRC and MSCG previously entered into a Pipeline buy/sell agreement on the Enbridge North Dakota Line at the prices and terms set forth in Schedule 9 hereto, and TRC has assigned this agreement to PBF under the terms of the Assignment.