Common use of Title and Custody Clause in Contracts

Title and Custody. Title to carbon dioxide from Shipper’s Gas shall remain with Shipper and shall not transfer to Gatherer, unless otherwise mutually agreed by the Parties. Shipper may elect to receive and, in which case, shall be solely responsible to arrange for recovery of, physical custody and transportation of the carbon dioxide collected by the Magnolia Gathering System. Notwithstanding the foregoing, unless Shipper elects to receive and take custody of the carbon dioxide as set forth in the preceding sentence, Gatherer will have custody of the carbon dioxide and will comply with all applicable reporting requirements by governmental authorities.

Title and Custody. Title to carbon dioxide from Shipper’s Gas shall remain with Shipper and shall not transfer to Gatherer, unless otherwise mutually agreed by the Parties. Shipper may elect to receive and, in which case, shall be solely responsible to arrange for recovery of, physical custody and transportation of the carbon dioxide collected by the Magnolia Olympia Gathering System. Notwithstanding the foregoing, unless Shipper elects to receive and take custody of the carbon dioxide as set forth in the preceding sentence, Gatherer will have custody of the carbon dioxide and will comply with all applicable reporting requirements by governmental authorities.