Indigenous Feedstock definition

Indigenous Feedstock means Feedstock produced in the Refinery, transferred to Seller and subsequently transferred back to Buyer to be processed further within the Refinery, and which may from time to time be sold to third parties by Seller at Buyer’s direction in accordance with Clause 9(e) as if such transactions involved Oil; provided that, notwithstanding the foregoing, all Feedstock located in the Indigenous Feedstock Tanks on the Delivery Commencement Date which is included in the Initial Inventory shall be “Indigenous Feedstock” whether produced in the Refinery or elsewhere.
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Indigenous Feedstock means Feedstock produced in the Refinery, together with all Feedstock located in the indigenous feedstock tanks at the Refinery on the date Statoil commences deliveries under the Supply Agreement whether such Feedstock was produced in the Refinery or elsewhere.
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Indigenous Feedstock means Feedstock produced in the Refinery.
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Examples of Indigenous Feedstock in a sentence

  • Buyer hereby authorizes Seller to make any and all filings under the UCC that are appropriate to clarify Seller’s ownership and other rights with respect to such Oil and Indigenous Feedstock.

  • Appendix 6 allows some flexibility for moving Oil and Indigenous Feedstock in the case of an emergency.

  • On the Delivery Commencement Date, Seller shall acquire the Oil and Indigenous Feedstock held in inventory at the Refinery in accordance with the procedures set forth in Appendix 11.

  • Any Oil and Indigenous Feedstock, other than the IF Staring Volume and Tank Heels, which are addressed by subclauses (2) and (3) below, both in-tank and in transit will be sold back to Buyer at the appropriate fully Delivered ex-tank price pursuant to this Agreement, including any accrued TVM Payment charge.

  • The Parties acknowledge that the Calculated Payment Obligation may include quantities of Oil and Indigenous Feedstock that was Delivered in Month M but was originally priced in anticipation of delivery in M-1, M or M+1.

  • If Buyer or Seller determines that additional off-site storage space is needed for use in connection with the operation of the Refinery, Buyer may locate and propose to Seller proposed storage space to be used for additional Oil and/or Indigenous Feedstock storage (a “Proposed Storage Site”), together with proposed terms for acquiring such Proposed Storage Site.

  • Buyer shall not take any action that adversely affects or encumbers in any way Seller’s title to or rights in such Oil and Indigenous Feedstock.

  • Subject to the provisions of this Agreement and this Appendix, Seller shall, as of the Delivery Commencement Date and during the term of this Agreement, have the sole and exclusive right to store Oil and Indigenous Feedstock in the Storage Facilities.

  • If at anytime Seller elects to remove its Oil and/or Indigenous Feedstock, Buyer shall provide access to all of the Refinery’s necessary equipment and all assistance reasonably required to complete such removal.

  • If Seller delivers to Buyer a Termination of Deliveries Notice, Buyer shall immediately cease taking any Deliveries of Oil or Indigenous Feedstock and all rights of Buyer to take deliveries of Oil and Indigenous Feedstock from the Storage Facilities shall terminate.