Title Transfer. Upon re-delivery of any Product to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody and the loss allowance provisions hereof shall apply to Product while in TLO’s custody. Title to all of TRMC’s Product received in the Terminals shall remain with TRMC at all times. Both Parties acknowledge that this Agreement represents a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC, except for Transmix as provided in Section 7 above. TRMC hereby warrants that it shall, at all times, have good title to and the right to deliver, throughput, store and receive Products pursuant to the terms of this Agreement.
Appears in 5 contracts
Samples: Master Terminalling Services Agreement, Master Terminalling Services Agreement (Tesoro Corp /New/), Master Terminalling Services Agreement (Tesoro Logistics Lp)
