Hydrocarbon Inventory has the meaning given such term in Section 2.7(a)(ii).
Hydrocarbon Inventory means the feedstock, by-products, basestocks, intermediates and finished lubricants inventory of the Corporations, as determined pursuant to the Working Capital Protocol.
Hydrocarbon Inventory means all oil and natural gas and other hydrocarbons produced or processed in association therewith (whether or not any such item is in liquid or gaseous form), or any combination thereof, in each case, that are owned by the Company Group, (a) including skim oil, inventory, line fill, tank bottoms (excluding BS&W and sludge) and unit fill and (b) excluding natural gas and natural gas liquids line pack.
Examples of Hydrocarbon Inventory in a sentence
On the basis of the provisions of paragraph 37, the Government undertakes to promote legislative changes that would make it possible to establish an efficient decentralized multi-user land registry system that is financially sustainable, subject to compulsory updating and easy to update.
For Hydrocarbon Inventory that is off specification, Seller’s maximum liability to Buyer shall be limited to replacement value of the specific Hydrocarbon Inventory at the time of the issuance of the Inspector’s report less the salvage value of the off specification such Hydrocarbon Inventory.
Buyer shall not take or permit to be taken any actions that would reduce the level of Hydrocarbon Inventory between the time of the Closing and such time that the Field Inspector completes its measurement procedures unless Buyer and Seller mutually agree upon adjustments and/or procedures to appropriately account for any such reduction.
Within five (5) Business Days of the reports prepared pursuant to Schedule 6.3(n), Buyer shall compare the actual 40 physical volumes of Hydrocarbon Inventory at the Terminal Facilities at Closing with the physical volumes of products and additives owned by Third Parties at the Terminal Facilities at Closing as such volumes are recorded and reported in Terminal Facility records (“Third Party Hydrocarbon Inventory”).
If the actual physical volumes of Hydrocarbon Inventory is less than the volumes of Third Party Hydrocarbon Inventory, or if any Third Party Hydrocarbon Inventory does not meet the required product specifications, Buyer shall amend the settlement invoice for the Purchased Inventory Sales Agreement to account for any deviations from the Third Party Hydrocarbon Inventory volumes and specifications, using the prices set forth in Schedule 6.3(n), Hydrocarbon Inventory Methodology.
More Definitions of Hydrocarbon Inventory
Hydrocarbon Inventory has the meaning set forth in Section 3.2(a)(ii).
Hydrocarbon Inventory means natural gas and all other gaseous hydrocarbons including the liquid products of processing and any other natural gas liquids.
Hydrocarbon Inventory means the following hydrocarbon and hydrocarbon-derived inventory of the Seller located at or associated with the Facilities (which shall be measured and valued in accordance with Schedule 2.6.3.2): (i) raw materials (including crude oil and gas oil), feedstocks and intermediate stocks (including vacuum gas oil, light cycle oil, and naphtha) that are in transit to the Facilities in Third Party pipelines (or in pipelines owned or controlled by SXL) and raw materials, feedstocks and intermediate stocks designated as Sunoco-owned line fill in Third Party pipelines (or in pipelines owned or controlled by SXL) on which Seller ships such oil and stocks into the Facilities; (ii) raw materials, blendstocks (including ethanol, additives, biodiesel, and butane which is to be blended into a finished product), feedstocks and intermediate stocks that are located at the Facilities, in transit from the Facilities or residing in Third Party storage (or storage owned or controlled by SXL), excluding any such products for which title has passed from Seller to a Third Party as of the Hydrocarbon Inventory Transfer Time; (iii) refined products (including gasoline, distillates, residuals, HARF, clarified slurry oil, sulfur, propanes, and butanes which are to be sold as finished product) located at the Facilities, in transit from the Facilities or residing in Third Party storage (or storage owned or controlled by SXL), excluding any such products for which title has passed from Seller to a Third Party as of the Hydrocarbon Inventory Transfer Time; (iv) petrochemical products (including benzene, toluene, xylene, tetramer and nonene) located at the Facilities, in transit from the Facilities or residing in Third Party storage (or storage owned or controlled by SXL), excluding any such products for which title has passed from Seller to a Third Party as of the Hydrocarbon Inventory Transfer Time; (v) tank heels associated with any of the foregoing; (vi) BS&W, intra-refinery line fill, and unit fill at the Facilities.
Hydrocarbon Inventory means the following hydrocarbon and hydrocarbon-derived inventory of the Seller located at or associated with the Facilities (which shall be measured and valued in accordance with Schedule 2.6.3.2): (i) raw materials (including crude oil and gas oil), feedstocks and intermediate stocks (including vacuum gas oil, light cycle oil, and naphtha) that are in transit to the Facilities in Third Party pipelines (or in pipelines owned or controlled by SXL) and raw materials, feedstocks and intermediate stocks designated as Sunoco-owned line fill in Third Party pipelines (or in pipelines owned or controlled by SXL) on which Seller ships such oil and stocks into the Facilities; (ii) raw materials, blendstocks (including ethanol, additives, biodiesel, and butane which is to be blended into a finished product), feedstocks and intermediate stocks that are located at the Facilities, in transit from the Facilities or residing in Third Party storage (or storage owned or controlled by SXL), excluding any such products for which title has passed from Seller to a Third Party as of the Hydrocarbon Inventory Transfer Time;-(iii) refined products (including gasoline, distillates, residuals, HARF, clarified slurry oil, sulfur, propanes, and butanes which are to be sold as finished product) located at the Facilities, in transit from the Facilities or residing in Third Party storage (or storage owned or
Hydrocarbon Inventory means the inventory of Seller and SOC, including crude oil, blendstocks, feedstocks and other raw materials, intermediate stocks and finished products, including tank heels, at or associated with (i) the Facilities, (ii) the Phillipsburg heavy oil terminal, (iii) the line fill between Xxxxxxx and the Tulsa Refinery (all of which shall be measured and valued in accordance with Schedule 2.6.3.2), and (iv) unit and line fills at the Tulsa Refinery (which shall not be measured or valued for the purposes of Schedule 2.6.3.2), but, with respect to all of the foregoing clauses, not including Excluded Hydrocarbon Inventory.
Hydrocarbon Inventory means (i) the hydrocarbon inventory at the Superior refinery that is owned by Seller and its Subsidiaries as of Closing, including crude oil, blendstocks, ethanol, biodiesel, feedstocks and other raw materials (including polymers and emulsifying compounds), intermediate petroleum products and finished products (including asphalt), tank heels and tank bottoms (including all such items located in process units or interconnecting lines at the refinery), (ii) all such products produced at the Superior refinery that are owned by Seller and its Subsidiaries as of Closing where title has not passed to a customer (including, for the avoidance of doubt, Seller or its Subsidiaries that are customers of the refinery; provided that in the case of such an internal transfer title will be deemed to be passed as set forth in Exhibit E) prior to Closing and (iii) all hydrocarbons (including crude oil, blendstocks, feedstocks and other raw materials, intermediate petroleum products and finished products, tank heels and tank bottoms) in transit to the Superior refinery (other than Excluded Crude) for which title has passed to Xxxxxx Oil USA, Inc. or Superior Crude Trading Company, including such hydrocarbons in transit from Xxxxxx Exploration & Production Company – USA where title has so passed.
Hydrocarbon Inventory means the Seller’s inventory, including crude oil, blendstocks, feedstocks and other raw materials, intermediate stocks and finished products, including tank heels, at or associated with the Facilities, including all products produced at the Facilities that are in transit as of and for which the Seller has not issued an invoice prior to the Hydrocarbon Inventory Transfer Time (which shall be measured and valued in accordance with Schedule 2.6.3.2). “Hydrocarbon Inventory Transfer Time” has the meaning set forth in Schedule 2.6.3.2. “Hydrocarbon Inventory Value” has the meaning set forth in Schedule 2.6.3.2. “Initial Post-Closing Adjustment Date” has the meaning set forth in Section 2.6.3. “Idle Assets” has the meaning set for in Section 2.1.13. “Indemnified Party” has the meaning set forth in Section 8.7. “Indemnifying Party” has the meaning set forth in Section 8.7. “Indemnity Cap” has the meaning set forth in Section 8.4.3. Schedule 1.1