Custody Transfer Point definition

Custody Transfer Point means the point at which custody, title and risk of Crude Oil passes to the Buyer, and this point will also be considered as “Delivery Point”;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Custody Transfer Point means the physical point of interconnection designated in a contract or otherwise defined by the Carrier between the Carrier and (i) Trans Mountain Pipeline (Puget Sound) LLC, (ii) a receipt or delivery facility or terminal, or (iii) a Vessel, where control of Petroleum transfers from the Carrier to the Shipper or from the Shipper to the Carrier. The Custody Transfer Point for Westridge Marine Terminal shall be the outlet flange of the marine loading arms.

Custody Transfer Point means the transfer of natural gas from upstream separation, processing, treatment, or in-field gathering to a pipeline or any other form of transportation occurring at sales metering equipment.

Examples of Custody Transfer Point in a sentence

Notwithstanding anything herein, Enbridge shall under no circumstance be obligated to authorize a nomination or transport any quantity of gas under this Contract to the Delivery Point of ▇▇▇▇ (Facilities) if the pressure at the Custody Transfer Point is less than the minimum pressure for the Custody Transfer Point described in Schedule 1 herein.
All crude oil passing through the Custody Transfer Point shall be sampled in accordance with API MPMS Chapter 8.
Shipper may install, maintain and operate, at the Custody Transfer Point, at its own expense, such check measuring equipment as desired, provided that such equipment shall be so installed as not to interfere with the operation of Union's measuring equipment at or near the Custody Transfer Point, and shall be installed, maintained and operated in conformity with the same standards and specifications applicable to Union's metering facilities.
EXCO shall have responsibility for the Water upstream of each Custody Transfer Point including responsibility for any spills that occur upstream of a Custody Transfer Point.
Specific meter sizes for each Custody Transfer Point shall be determined based upon the specific pumps that EXCO installs at or near the relevant Custody Transfer Point, to be determined at least 60 days prior to first delivery at such Custody Transfer Point.

More Definitions of Custody Transfer Point

Custody Transfer Point means the physical point along a pipeline where control or ownership of crude oil or marketable natural gas transfers from one person to another;

Custody Transfer Point means the point agreed hereunder where the title and risk of Crude Oil and/or Condensate passes on from the Sellers to the BUYER. Under this Agreement, Delivery Point is the Custody Transfer Point.

Custody Transfer Point means that specific point where physical custody of the Gas transfers and at which the Parties have agreed to transfer the rights and responsibilities of custody.

Custody Transfer Point means the point of interconnection between the Delive1y Facilities and Customer's Downstream Facilities.

Custody Transfer Point means the flange at the downstream of the meter at which the LNG is transferred from the LNG Carrier by a hose into the FSRU or land-based facility of LNG terminal;

Custody Transfer Point means the point where the water system owned by Town is connected to the water system owned by the First Nation as illustrated on the attached Schedule "?". The Custody Transfer Point shall contain the water meters used to establish water volumes.

Custody Transfer Point means the transfer of natural gas from upstream separation, processing or treatment to a pipeline or any other form of transportation.