Base Oil definition

Base Oil means an oil that is free from contaminants or additives and to which other substances may be added for a particular application.

Base Oil means a fluid base compound to which other oils, Additives, or components are added to produce a Lubricant.

Base Oil means the lubrication grade oils initially produced from refining crude oil (mineral base oil) or through chemical synthesis (synthetic base oil). In general, only 1% to 2% of a barrel of crude oil is suitable for refining into base oil. The majority of the barrel is used to produce gasoline and other hydrocarbons;

Examples of Base Oil in a sentence

• The Borrowing Base Oil and Gas Properties are not subject to any regulatory refund obligation and no facts exist which might cause the same to be imposed.

• The Borrowing Base Oil and Gas Properties are not subject to any gas sales contract that contains any material terms which are not customary in the industry within the region in which the Borrowing Base Oil and Gas Properties affected thereby are located.

• After deducting from the proceeds of sale or other disposition of the Borrowing Base Oil and Gas Properties all expenses (including all reasonable expenses for legal services), the Bank shall apply such proceeds toward the satisfaction of the Obligations.

• Notice of any sale or other disposition shall be given to the Borrower at least five (5) days before the time of any public sale or of the time after which any intended private sale or other disposition of the Borrowing Base Oil and Gas Properties is to be made, which the Borrower hereby agrees shall be reasonable notice of such sale or other disposition.

• The persons who are purchasing the Borrower's interests in oil and gas produced from the Borrowing Base Oil and Gas Properties as of the calendar month during which the initial Loans are made hereunder are identified on Schedule 4.10 attached hereto.

More Definitions of Base Oil

Base Oil means paraffinic-based lubricant stock of all types, grades, viscosities, and qualities suitable for blending into finished oils (e.g., passenger car motor oil, heavy duty engine oil, automatic transmission fluid, hydraulic fluids, or gear oils).

Base Oil means paraffinic-based lubricant stock of all types, grades, viscosities, and qualities suitable for blending into finished oils (e.g., passenger car motor oil, heavy duty diesel oil, hydraulic fluids, or gear oils), but does not mean naphthenic or synthetic oils.

Base Oil means the base oil recovered by the Unit from Used Oil. Base Oil is derived from the distillation of First Phase Material. Such distillation process can segregate the Base Oil from the Gasoline and Diesel fractions and the bottoms. (d) "Diesel" shall mean the fraction commonly referred to as diesel that is recovered by the Unit from Used Oil. Diesel can be derived from the distillation of First Phase Material. (e) "Gasoline" shall mean the fraction commonly referred to as gasoline that is recovered by the Unit from Used Oil. Gasoline can be derived from the flashing of First Phase Material. (f) "Finished Products" shall mean all commercially marketable products produced as a result of processing Used Oil by any process, equipment or apparatus of the Unit. Finished Products include, but are not necessarily limited to, First Phase Material, Diesel, Gasoline, Base Oil, and Residuum. Finished Products other than First Phase Material, Diesel, Gasoline, Base Oil, and Residuum, are sometimes referred to in this Agreement as "other Finished Products."

Base Oil means the base oil recovered by a Unit from Used Oil. Base Oil is derived from the distillation of First Phase Material. Such distillation process can segregate the Base Oil from the Gasoline and Diesel fractions and the bottoms.

Base Oil means a fluid base compound from renewable sources, to which other oils, additives or components are added to produce a Lubricant, which is intended to replace existing Group III Base Stocks and/or Group IV Base Stocks;

Base Oil means, as applicable, either of the high quality lubricant base oils (light or heavy) that are the final product of the Facility, at times herein referred to as "Light Base Oil" and "Heavy Base Oil", as specified in Exhibit G.

Base Oil means any oil used for production of finished lubrication oil;