Hydrocarbon Inventories definition

Hydrocarbon Inventories is defined in Section 2.2(j).
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Hydrocarbon Inventories means all hydrocarbon inventories owned by Seller as of the Effective Time for use in or resulting from the Operations including each of the following as of the Effective Time (i) all crude oil, blendstock, feedstock and intermediate petroleum products owned by Seller and that are located at the Refinery as of the Effective Time (in each case which shall be measured and valued for all purposes of this Agreement in accordance with Exhibits A-l and A-2) or, to the extent previously agreed in writing by the Parties, that are in transit to the Refinery or held in off-site storage as of the Effective Time but excluding hydrocarbons in process units or in interconnecting lines at the Refinery; (ii) all refined and intermediate product inventories, including petroleum coke and sulfur; and (iii) all additives (excluding additives used by Seller in finished products); but in all cases excluding all finished and unfinished products that have left the Refinery and are en route to any customer (including Seller’s Affiliate(s)) where title has passed to the customer. Hydrocarbon Inventories shall include tank bottoms and heels.
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Hydrocarbon Inventories means all Hydrocarbon inventories owned by Seller including all blendstock, feedstock, intermediate petroleum products and finished product, including Hydrocarbons in interconnecting lines.
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Examples of Hydrocarbon Inventories in a sentence

  • In either case, such payment shall include interest from the Closing Date through and including the date the payment is made at a rate of 4% per annum, and such payment shall be made in immediately available funds within five (5) business days after the determination of the final market value of the Hydrocarbon Inventories.

  • The Purchase Price shall be subject to adjustment based on the final market value of the Hydrocarbon Inventories as described in this Section 3(d).

  • Within thirty (30) days following the Closing Date, the final market value of the Hydrocarbon Inventories as of the Closing Date shall be determined by Seller and Buyer in accordance with procedures specified in Exhibit A.

  • If the final market value of the Hydrocarbon Inventories is greater than the estimated market value of the Hydrocarbon Inventories referenced in Section 3(b) above, Buyer shall pay to Seller an amount equal to such difference, and if the final market value of the Hydrocarbon Inventories is less than such estimated market value of the Inventories, Seller shall pay to Buyer an amount equal to such difference.

  • Each Party shall be permitted to have representatives present to observe any measurements taken of Hydrocarbon Inventories.

  • The estimated market value of the Hydrocarbon Inventories set forth in Section 3(b)(i)(B) shall be subject to adjustment based on the final market value of the Hydrocarbon Inventories as described in this Section 3(d).

  • For purposes of determining the market value of the Hydrocarbon Inventories in Section 3(b)(i)(B), all Hydrocarbon Inventories less volumes below the bottom tangent line of the lowest suction point of a tank and volumes contained in the Alliance Refinery's process units and process piping which are not storage tanks, spheres or bullets shall be valued as specified on Exhibit A.

  • In either case, such payment shall include interest from the Closing Date through and including the date the payment is made at a rate of 7% per annum and such payment shall be made in immediately available funds within five (5) business days after the determination of the final market value of the Hydrocarbon Inventories.

  • The CUSA Properties, the CPL Properties, the Hydrocarbon Inventories, the Partnership Interests and the transferred interests of CUSA and CPL in Clean Seas collectively.

  • The "Final Inventories Value" shall be the sum of final inventory value for Hydrocarbon Inventories determined in accordance with Schedules E.1 and E.