Common use of Warehouseman’s Lien Clause in Contracts

Warehouseman’s Lien. Operator will have a warehouseman’s lien upon such amount of Crude Oil in the Facility whose market value equals any amounts owed to Operator hereunder which have not been or are not paid when due under this Agreement (regardless of whether such amounts are owed for the Crude Oil then in the Facility). Customer shall provide ten (10) days’ advance written notice to Operator if it intends to transfer title to any Crude Oil at the Facility to a third party and promptly shall notify Operator in writing upon learning that a third party claims an interest in the Crude Oil in the Facility. Such notice will set forth the name and business address of the third party and the interest claimed.

Warehouseman’s Lien. Operator will have a warehouseman’s 's lien arising by operation of law upon such amount of Crude Oil in the Facility whose market value equals any amounts owed to Operator hereunder which have not been or are not paid when due under this Agreement (regardless of whether such amounts are owed for the Crude Oil then in the Facility). Customer shall provide ten (10) days’ ' advance written notice to Operator if it intends to transfer title to any Crude Oil at the Facility to a third party and promptly shall notify Operator in writing upon learning that a third party claims an interest in the Crude Oil in the Facility. Such notice will set forth the name and business address of the third party and the interest claimed.

Warehouseman’s Lien. Operator will have a warehouseman’s lien arising by operation of law upon such amount of Crude Oil in the Facility whose market value equals any amounts owed to Operator hereunder which have not been or are not paid when due under this Agreement (regardless of whether such amounts are owed for the Crude Oil then in the Facility). Customer shall provide ten (10) days’ advance written notice to Operator if it intends to transfer title to any Crude Oil at the Facility to a third party and promptly shall notify Operator in writing upon learning that a third party claims an interest in the Crude Oil in the Facility. Such notice will set forth the name and business address of the third party and the interest claimed.