Refined Products Sample Clauses
The 'Refined Products' clause defines what is meant by refined products within the context of the agreement, typically specifying substances that have been processed from raw materials, such as gasoline, diesel, or jet fuel derived from crude oil. This clause may list the specific products covered, set quality standards, or outline how these products are to be measured and delivered. Its core function is to ensure both parties have a clear, mutual understanding of which products are included in the contract, thereby reducing ambiguity and potential disputes over the scope of goods to be supplied or purchased.
Refined Products. (Oil) Marketing: As indicated, ▇▇▇▇▇▇▇ has an extensive network of refined products terminals along the U.S. East Coast, providing the foundation for its refined products marketing activities. As indicated, in addition to the ▇▇▇▇▇▇▇-operated terminals, ▇▇▇▇▇▇▇ markets products from a range of 3rd-party facilities. ▇▇▇▇▇▇▇’▇ annual Oil Marketing sales are nearly 30 million barrels.
Refined Products all gasoline, diesel, aviation fuel, fuel oil, propane, ethanol, transmix, and other products processed, refined or blended from Feedstocks and Intermediate Products. Refineries: collectively, the PHR Refinery, the USOR Refinery and the Wyoming Refinery. The term “Refineries” shall also include any refinery acquired by a Borrower or a Restricted Subsidiary of any Borrower after the Closing Date.
Refined Products. All inventories of gasoline and distillate ---------------- products owned by Farmland and associated with the Business on the Closing Date, except for inventories of gasoline and distillate products in certain locations as set forth herein (the "Excluded Inventories"). Excluded Inventories shall consist of all inventories of gasoline and distillate products: (A) in the pipeline and terminals that are part of the ▇▇▇▇▇▇▇▇ Pipeline System, Kaneb Pipeline System, Chase Pipeline System, and Cenex Pipeline System, and (B) in terminals operated by CHS and located at Chippewa Falls, ▇▇▇▇▇▇▇▇▇, and Green Bay, Wisconsin. Excluded Inventory will be purchased by CHS from Farmland in the ordinary course of business pursuant to mutual agreement of Farmland and CHS as set forth in a "Inventory Exchange/Purchase Agreement" to be executed on or before the Closing Date.
Refined Products. Notwithstanding anything to the contrary herein, and solely with respect to Eligible Hydrocarbons and Hydrocarbon Groups not constituting Crude:
(1) The volume of Eligible Hydrocarbons in a Hydrocarbon Group (calculated with respect to any Specified Reference Period) with respect to which amounts are included in Produced Amounts or Deemed Produced Amounts shall not exceed: The volume of Eligible Hydrocarbons in such Hydrocarbon Group with respect to which amounts have been included in Sales Amounts or Consumed Amounts calculated with respect to such Specified Reference Period. • The excess, calculated as of the beginning of such Specified Reference Period, of the TD Forward Maximum Volume for such Hydrocarbon Group over the volume of Eligible Hydrocarbons in such Hydrocarbon Group. Party A shall have the right to, in connection with the preparation of any Invoice, test for compliance with this Part 11(h)(iii).
(2) To the extent necessary to avoid a breach of the immediately preceding clause (1), Party A shall have the right to, in connection with the preparation of any Invoice and in its commercially reasonable discretion, (x) exclude volumes for purposes of calculating Produced Amounts and Deemed Produced Amounts, (y) refuse to make Crack Advances or (z) reduce or offset any payment or Advance that would otherwise be included in such Invoice.
(3) If Party A determines, in its commercially reasonable discretion, that a breach of the preceding clause (1) has occurred, then Party A shall have the right to require (and include on an Invoice) the return of any payment or repayment of any Advance made in breach of such clause (1), in each case only to the extent of the relevant breach, with all losses, costs or gains resulting therefrom to be for the account of Party B.
Refined Products the Systems;