Common use of Warehousing Clause in Contracts

Warehousing. Subject to these terms and conditions, the Warehouser has the right to the outturn of commodity of like quantity, type and specification as the Commodity received by EMERALD at the site at which the Commodity was received (the “Outturn Entitlement”). The Warehouser may transfer the ownership of the Commodity and the Outturn Entitlement to another party (“Buyer”) in accordance with clause 13 of these terms and conditions (a “Title Transfer”).