LACT Units definition

LACT Units or “LACT” means the Lease Automatic Custody Transfer units that, among other things, measure the volume and quality of the Product entering or leaving the System.
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LACT Units means the Lease Automatic Custody Transfer units that, among other things, measure the volume and quality of the Crude Petroleum entering or leaving Carrier’s System.
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LACT Units means lease automated custody transfer units, constructed in accordance with the American Petroleum Institute Manual of Petroleum Measurement Standards.
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Examples of LACT Units in a sentence

  • Gatherer is responsible for proving all LACT Units when initially placed into service and every thirty (30) Days thereafter.

  • Gatherer is responsible for and will bear all costs associated with proving LACT Units.

  • Permitted Equipment  Sour Crude: Two (2) 400 barrel (bbl) Vertical Fixed Roof Tanks (installed in 2006)  Sweet Crude: Three (3) 400 bbl Vertical Fixed Rood Tanks (installed in 2006)  Crude Oil Tanker Truck Unloading Station  Lease Automatic Custody Transfer (LACT) Units B.

  • The project will include minor modifications to the LFC facilities including the installation of four Lease Automatic Custody Transfer (LACT) Units, associated piping, electrical and communication connections, pipe and equipment supports, truck loading racks, operator shelter, paving of selected areas, and minor containment and drainage grading.

  • Also, the bodies and structures responsible for compliance with all these rules adopted a large number of legislative acts.

  • Four Lease Automatic Custody Transfer (LACT) Units will be installed at the location for royalty determination purposes as required by Bureau of Safety and Environmental Enforcement (BSEE).In accordance with Santa Barbara regulations, ExxonMobil is requesting the approval of a permit as detailed in the attached application and supporting documents.

  • Registrars: The registrars handle the transfer to share, update register of members cancel old share certificate and issue new share certificates.v. Stockbrokers: The stockbrokers market the shares, asset in taking the shares to the stock exchange floor.

  • Decisions on the capital programme do have an impact on the revenue budget; however, and this could relate to: the revenue costs of financing capital and the ongoing running costs of new assets.

Related to LACT Units

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.