Common use of Shutdown or Idling of Refinery Clause in Contracts

Shutdown or Idling of Refinery. In the event of a Permanent Refinery Shutdown, the Operator shall have the right to purchase the assets identified in Exhibit D (the “Designated Refinery Assets”) at their fair market value at the time of sale in accordance with this Section 16.1.

Shutdown or Idling of Refinery. In the event of a Permanent Refinery Shutdown, the Operator shall have the right to purchase the assets identified in Exhibit D B and such other assets as the Operator reasonably determines in good faith to be necessary to operate the Pipeline (the “Designated Refinery Assets”) at their fair market value at the time of sale in accordance with this Section 16.117.1.

Shutdown or Idling of Refinery. In the event of a Permanent Refinery Shutdown, the Operator shall have the right to purchase the assets identified in Exhibit D and such other assets as the Operator reasonably determines in good faith to be necessary to operate the Terminal (the “Designated Refinery Assets”) at their fair market value at the time of sale in accordance with this Section 16.1.