Product Losses. 21. If the LDB determines after a review of Product inventory, Records, Sales Reports and/or Excise Documents, that you are responsible for Lost Product, you will be charged xxxx-up for such Lost Product. The xxxx-up charged will be based on the Lost Product being treated as having been sold to you at the LDB Established Retail Price. In addition you will be charged for the container deposits, container recycling fees and applicable taxes associated with the Lost Product. Such amounts may be collected by the LDB by way of set off from any amounts the LDB owes you, howsoever arising or as otherwise agreed by the parties.
Product Losses. Any loss of Product from Lessor’s storage wxxxx for which Lessor is not responsible shall be apportioned among all of the parties storing such Product in such storage wxxxx on the date of loss in proportion to the amount of Product each such party has in storage on such date. Product is not insured by Lessor against loss or damage however caused, and any insurance thereon must be provided and paid for by Lessee. Lessor’s liability, if any, for loss or damages to the stored Product shall be limited to the monthly average NON TEPPCO price on the Texas Gulf Coast for such Product on the date of such loss or damage as reported or published by Oil Price Information Service (“OPIS”) (the “Published Price”), or at Lessor’s option, replacement of such lost or damaged Product in kind within forty-five (45) days of such loss. If the Published Price is not reported or published by OPIS for the date in question, the parties will endeavor to promptly agree upon such a price.
Product Losses. Shipper acknowledges that certain volumetric losses of Shipper Crude Oil will occur even if the System Services are conducted in accordance with the provisions of Section 3.2, and such losses attributable to Product Losses shall be shared and allocated among all shippers utilizing each Subsystem of the Gathering System in the proportion that each such shipper Tenders Crude Oil into such Subsystem at the applicable Receipt Points. Shipper shall bear all Product Losses or gains that may occur while any Shipper Crude Oil is in the Gathering System. Notwithstanding anything in the foregoing to the contrary, from and after the fourth anniversary of the Effective Time, Shipper shall only bear Product Losses pursuant to this Section 7.2 up to the Product Loss Allowance, and Gatherer shall bear all Product Losses in excess of the Product Loss Allowance. TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).
Product Losses. 20. If the LDB determines after a review of Product inventory, Records, Sales Reports, and/or Excise Documents and your status as a Land Based Winery that you are responsible for Lost Product, you will be charged the container deposits, container recycling fees and applicable taxes associated with the Lost Product. Such amounts may be collected by the LDB by way of set off from any amounts the LDB owes you, howsoever arising or as otherwise agreed by the parties. Insurance and Indemnity
Product Losses. With respect to the Marcus Hook Tank Farm, the Inkster -------------- Terminal, the Fort Mifflin Terminal Complex and the Refined Product Terminals, the Partnership Group is responsible for all product losses greater than one fourth of one percent of the product transported or throughput in accordance with this Section 2. The Partnership's responsibility for product losses on the Refined Product Pipelines and the Crude Oil Pipelines will be determined by the applicable tariffs.
Product Losses. With respect to the Refined Product Terminals, the Partnership Group will be responsible for all product losses, as determined on a quarterly basis on a terminal by terminal basis, that are greater than 0.25% of the product terminalled in accordance with this Section 2. All product losses with respect to the Refined Product Terminals will be offset by product gains with respect to the Refined Product Terminals, if any, as determined on a quarterly basis on a terminal by terminal basis. Product gains at the Refined Product Terminals, after any offsetting losses, will be the property of the Partnership Group.
Product Losses. Product is not insured by Lessor against loss or damage however caused, and any insurance thereon must be provided and paid for by Lessee. Lessor’s liability, if any, for loss or damages to the stored Product shall be limited to the market value of Product as determined by the highest price published for Polymer Grade Propylene weighted average spot transacted price reported in the last issue of the month in which the Product was delivered of Chemical Marketing Associates Inc.’s Monomers Market Report, or at Lessor’s option, replacement of such lost or damaged Product in kind; provided, however, should Lessee purchase property/casualty insurance to cover such storage risk of loss or damage, however, caused, then Lessee shall cause each of its insurers to waive its rights of subrogation and, for itself, waive rights of recovery of any self-funded retentions and/or deductibles against Lessor, its affiliates, employees and agents.
Product Losses. Product is not insured by Lessor against loss or damage however caused, and any insurance thereon must be provided and paid for by Lessee. Lessor’s liability, if any, for loss or damages to the stored Product shall be limited to the market value of Product which shall be equal to the highest USGC contract reference price for the applicable Product as published in the last issue of the month in which the Product was delivered of Chemical Marketing Associates Inc.’s Monomers Market Report, or at Lessor’s option, replacement of such lost or damaged Product in kind.
Product Losses. Product is not insured by Lessor against loss or damage however caused, and any insurance thereon must be provided and paid for by Lessee. Lessor’s liability, if any, for loss or damages to the stored Product shall be limited to the market value of Product which shall be equal to the sum of: (i) the highest USGC refinery grade propylene weighted average spot monthly reference price as published in the last issue of the month in which the Product was delivered of Chemical Marketing Associates Inc.’s Monomers Market Report for the contained propylene in the Product and the (ii) the NON TET average Mont Belvieu, Texas Propane price as reported by OPIS as published in the last issue of the month in which the Product was delivered for no contained propylene components, or at Lessor’s option, replacement of such lost or damaged Product in kind. If the refinery grade propylene contract price is subsequently changed in the next month in the CMAI Monomers Market Report due to late price settlement, then that price shall be the market value; provided, however, should Lessee purchase property/casualty insurance to cover such storage risk of loss or damage, however caused, then Lessee shall cause each of its insurers to waive its rights of subrogation and, for itself, waive rights of recovery of any self-funded retentions and/or deductibles against Lessor, its affiliates, employees and agents.
Product Losses. It is acknowledged that product losses occur as part of normal work practices at the winery. However, product loss (>5000lts) resulting from negligence and/or poor workmanship will result in disciplinary action and possible termination of employment.
