Common use of Volumetric Gains and Losses Clause in Contracts

Volumetric Gains and Losses. Title to the Crude Oil tendered by or on behalf of the Refining Entity for transportation or storage hereunder will remain with the Refining Entity at all times. The Refining Entity shall, during each Contract Quarter, (i) be entitled to all volumetric gains in the Pipelines and the Tankage and (ii) be responsible for all volumetric losses in the Pipelines and the Tankage up to a maximum of 0.25%. The Logistics Entity shall be responsible for all volumetric losses in excess of 0.25% in the Pipelines and the Tankage during each Contract Quarter.