Common use of Removal of Tank from Service Clause in Contracts

Removal of Tank from Service. The Parties agree that if a tank included in the Applicable Assets is removed from service, then HEP Operating will not be required to utilize, operate or maintain such tank or provide the services required under this Agreement with respect to such tank (and there will be no adjustment to the applicable Minimum Revenue Commitment). The Parties acknowledge that provisions relating to the inspection, repair and maintenance of tanks included in the Applicable Assets are set forth in the Master Lease and Access Agreement, and such provisions are in addition to, and not in substitution of, the terms set forth in this Section 2.13.

Appears in 5 contracts

Samples: Master Throughput Agreement, Master Throughput Agreement (Holly Energy Partners Lp), Master Throughput Agreement (Holly Energy Partners Lp)

AutoNDA by SimpleDocs

Removal of Tank from Service. The Parties agree that if a tank included in the Applicable Assets is removed from service, then HEP Operating will not be required to utilize, operate or maintain such tank or provide the services required under this Agreement with respect to such tank (and there will be no [Page 8 to the Third Amended and Restated Master Throughput Agreement] adjustment to the applicable Minimum Revenue Commitment). The Parties acknowledge that provisions relating to the inspection, repair and maintenance of tanks included in the Applicable Assets are set forth in the Master Lease and Access Agreement, and such provisions are in addition to, and not in substitution of, the terms set forth in this Section 2.13.

Appears in 2 contracts

Samples: Master Throughput Agreement (HollyFrontier Corp), Master Throughput Agreement (Holly Energy Partners Lp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.