Common use of Storage Variations Clause in Contracts

Storage Variations. Each Month, Carrier shall determine the physical inventory of each Commodity in storage and calculate the losses (“Storage Losses”) or gains (“Storage Gains”) of a type normally incurred in connection with handling Commodities while in storage (Storage Losses and Storage Gains together, “Storage Variations”) for each Commodity and for each Terminal, provided that for purposes of this Agreement, Storage Gains do not include gains that result from vapor recovery or blending services. Monthly Storage Variations for each Commodity shall be prorated to all Persons using the storage for that Commodity based upon their respective percentages of Terminal receipts of that Commodity for that Month (such proration being such Person’s “Proportionate Share”). Company’s inventory of each such individual Commodity in storage at a Terminal shall then be adjusted each Month (increased or decreased) to reflect its Proportionate Share of the Storage Variation. For clarity, this Article X relates only to the losses or gains of a type normally incurred in connection with handling Commodities while in storage, and is an exception to and not a modification of the general provisions of Section 20.02.

Storage Variations. Each Month, Carrier shall determine the physical inventory of each Commodity in storage and calculate the losses (“Storage Losses”) or gains (“Storage Gains”) of a type normally incurred in connection with handling Commodities while in storage (Storage Losses and Storage Gains together, “Storage Variations”) for each Commodity and for each Terminal, provided that for purposes of this Agreement, Storage Gains do not include gains that result from vapor recovery or blending servicesbutane blending. Monthly Storage Variations for each Commodity shall be prorated to all Persons using the storage for that Commodity based upon their respective percentages of Terminal receipts of that Commodity for that Month (such proration being such Person’s “Proportionate Share”). Company’s inventory of each such individual Commodity in storage at a Terminal shall then be adjusted each Month (increased or decreased) to reflect its Proportionate Share of the Storage Variation. For clarity, this Article X relates only to the losses or gains of a type normally incurred in connection with handling Commodities while in storage, storage and is an exception to and not a modification of the general provisions of Section 20.02.

Storage Variations. Each Month, Carrier shall determine the physical inventory of each Commodity Product in storage storage, both commingled and dedicated, and calculate the losses (“Storage Losses”) or gains (“Storage Gains”) of a type normally incurred in connection with handling Commodities Products while in storage (Storage Losses and Storage Gains together, “Storage Variations”) for each Commodity Product and for each Terminal, provided that for purposes of this Agreement, Storage Gains do not include gains that result from vapor recovery or blending servicesbutane blending. With regard to commingled storage, Monthly Storage Variations for each Commodity Product shall be prorated to all Persons using the storage for that Commodity Product based upon their respective percentages of Terminal receipts of that Commodity Product for that Month (such proration being such Person’s “Proportionate Share”). Company’s inventory of each such individual Commodity Product in storage at a Terminal shall then be adjusted each Month (increased or decreased) to reflect its Proportionate Share of the Storage Variation. With regard to dedicated storage, Monthly Storage Variations shall be calculated for Company’s Product only. Company’s inventory of each such individual Product in a Tank shall then be adjusted each Month (increased or decreased) accordingly. For clarity, this Article X relates only to the losses or gains of a type normally incurred in connection with handling Commodities Products while in storage, storage and is an exception to and not a modification of the general provisions of Section 20.02.. US-DOCS\70615498.10