Crude Oil Assets definition

Crude Oil Assets means crude oil tankers and related charters, excluding any crude oil tankers and related charters that constitute Offshore Assets.
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Crude Oil Assets means crude oil tankers.
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Crude Oil Assets means the crude oil gathering, transportation, terminalling and storage assets conveyed, contributed or otherwise transferred by the Parent Entities to the Partnership Group pursuant to the Contribution Agreement.
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Examples of Crude Oil Assets in a sentence

  • The TexStar Crude Oil Assets consist of approximately 140 miles of crude oil pipelines and gathering lines, as well as five terminals and storage facilities providing 0.6 million barrels of storage capacity.

  • The Offshore Partnership Group hereby grants (i) Teekay a right of first offer on any proposed Transfer or Re-Charter by any Offshore Partnership Group Member of any Crude Oil Assets owned or acquired by any Offshore Partnership Group Member and (ii) Teekay LNG General Partner a right of first offer on any proposed Transfer or Re-Charter by any Offshore Partnership Group Member of any LNG Assets owned or acquired by any Offshore Partnership Group Member.

  • Subject to Section 8.4 and except as permitted by Section 4.2, each LNG Partnership Group Member and each Offshore Partnership Group Member shall be prohibited from engaging in or acquiring or investing in any business that owns, operates or charters Crude Oil Assets (each a “Crude Oil Restricted Business”).

  • On December 13, 2012, NuStar Logistics acquired the TexStar Crude Oil Assets (as defined below), including 100% of the partnership interest in TexStar Crude Oil Pipeline, LP, from TexStar Midstream Services, LP and certain of its affiliates (collectively, TexStar) for $325.4 million (the TexStar Asset Acquisition), pursuant to an Asset Purchase Agreement (the Purchase Agreement).

  • Subject to Section 7.4 and except as permitted by Section 3.2, each Partnership Group Member shall be prohibited from engaging in or acquiring or investing in any business (each a "Crude Oil Restricted Business") that owns, operates or charters Crude Oil Assets.

  • The SemGroup Entities carry or are entitled to the benefits of, and following the consummation of the Transactions and on the Closing Date and each settlement date the Partnership Entities will carry or be entitled to the benefits of, insurance relating to the Crude Oil Assets, with financially sound and reputable insurers, in such amounts and covering such risks as is commercially reasonable, and all such insurance is in full force and effect.

  • The SemGroup Parties have no reason to believe that the Partnership Entities will not be able (i) to renew their existing insurance coverage relating to the Crude Oil Assets as and when such policies expire or (ii) to obtain comparable coverage relating to the Crude Oil Assets from similar institutions as may be necessary or appropriate to conduct such business as now conducted and at a cost that would not reasonably be expected to have a Material Adverse Effect.

  • TexStar Asset AcquisitionOn December 13, 2012, NuStar Logistics acquired the TexStar Crude Oil Assets (as defined below), including 100% of the partnership interest in TexStar Crude Oil Pipeline, LP, from TexStar Midstream Services, LP and certain of its affiliates (collectively, TexStar) for $325.4 million (the TexStar Asset Acquisition), pursuant to an Asset Purchase Agreement (the Purchase Agreement).

  • Mr. Blaska explained the plan to adjust current Capital Improvement Program (CIP) budgets to finance the charging infrastructure needed for the Boone NW Garage, Spokane Community College, and Moran Station.

  • If the Second Closing does not occur, it will have no impact on the Crude Oil Assets.


More Definitions of Crude Oil Assets

Crude Oil Assets means assets principally used to engage in the Businesses.
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Related to Crude Oil Assets

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Program Assets means any assets, goods or property (real, tangible or intangible) purchased or financed in whole or in part (directly or indirectly) by MCC Funding.

  • Hydrocarbons means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom.

  • Midstream Assets means (i) assets used primarily for gathering, transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).

  • Petroleum Substances means petroleum, natural gas, natural gas liquids, related hydrocarbons and any and all other substances, whether liquid, solid or gaseous, whether hydrocarbons or not, produced or producible in association with any of the foregoing.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Oil ’ means oil of any kind or in any form, including, but not limited to, petroleum, fuel oil, sludge, oil refuse, and oil mixed with wastes other than dredged spoil;

  • Transportation equipment means any of the following:

  • Field emission equipment means equipment which uses an x-ray tube in which electron emission from the cathode is due solely to the action of an electric field.

  • Pipeline System means each system of Pipeline Assets, Real Property and Easements relating thereto making up an integrated gathering system and gathering system, or other pipeline system.

  • Pipelines has the meaning set forth in the Recitals.

  • Hydrocarbon means a compound consisting of hydrogen and carbon, which, when naturally occurring, may also contain other elements such as sulphur;

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • Production equipment (1 7 9) means tooling, templates, jigs, mandrels, moulds, dies, fixtures, alignment mechanisms, test equipment, other machinery and components therefor, limited to those specially designed or modified for "development" or for one or more phases of "production".

  • Excluded Assets has the meaning set forth in Section 2.02.

  • Oil and Gas Interests means: (a) direct and indirect interests in and rights with respect to oil, gas, mineral and related properties and assets of any kind and nature, direct or indirect, including, without limitation, working, royalty and overriding royalty interests, mineral interests, leasehold interests, production payments, operating rights, net profits interests, other non-working interests, contractual interests, non-operating interests and rights in any pooled, unitized or communitized acreage by virtue of such interest being a part thereof; (b) interests in and rights with respect to Hydrocarbons and other minerals or revenues therefrom and contracts and agreements in connection therewith and claims and rights thereto (including oil and gas leases, operating agreements, unitization, communitization and pooling agreements and orders, division orders, transfer orders, mineral deeds, royalty deeds, oil and gas sales, exchange and processing contracts and agreements and, in each case, interests thereunder), and surface interests, fee interests, reversionary interests, reservations and concessions related to any of the foregoing; (c) easements, rights-of-way, licenses, permits, leases, and other interests associated with, appurtenant to, or necessary for the operation of any of the foregoing; (d) interests in oil, gas, water, disposal and injection xxxxx, equipment and machinery (including well equipment and machinery), oil and gas production, gathering, transmission, compression, treating, processing and storage facilities (including tanks, tank batteries, pipelines and gathering systems), pumps, water plants, electric plants, gasoline and gas processing plants, refineries and other tangible or intangible, movable or immovable, real or personal property and fixtures located on, associated with, appurtenant to, or necessary for the operation of any of the foregoing; and (e) all seismic, geological, geophysical and engineering records, data, information, maps, licenses and interpretations.

  • Bi-fuel vehicle means a vehicle with two separate fuel storage systems that can run part-time on two different fuels and is designed to run on only one fuel at a time;

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Gross Assets means the total of fixed assets and current assets;

  • Refinery means a facility used to produce motor fuel from crude oil, unfinished oils, natural gas liquids, or other hydrocarbons and from which motor fuel may be removed by pipeline, by marine vessel, or at a rack.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Transport vehicle means a motor vehicle or rail car used for the transportation of cargo by any mode. Each cargo-carrying body (trailer, railroad freight car, etc.) is a separate transport vehicle.

  • Liquid Assets mean Borrower's cash on hand plus Borrower's readily marketable securities.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.