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

  • For those tank battery receipt points constructed by Carrier where Shipper elects for Carrier to own, operate, maintain and repair the LACT Units, a charge of [U] $0.1250 shall be assessed in addition to the transportation rates applicable to such Shipper, as set forth in Tables 4 and 5, for shipments originating from such tank battery receipt points.

  • For those tank battery receipt points constructed by Carrier where Shipper elects for Carrier to own, operate, maintain and repair the LACT Units, a charge of [U] $0.1250 shall be assessed in addition to the transportation rates applicable to such Shipper, as set forth in Tables 1 and 2, for shipments originating from such tank battery receipt points.

  • For those tank battery receipt points constructed by Carrier where Shipper elects for Carrier to own, operate, maintain and repair the LACT Units, a charge of [U] $0.10 shall be assessed in addition to the gathering rates applicable to such Shipper, as set forth in Tables 1 and 2, for shipments originating from such tank battery receipt points.

  • 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.

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

  • 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.

  • Diverter Valve: A three-way, two position valve or two mechanically interlocked valves shall be provided on all LACT Units where excess BS&W liquids are to be circulated for retreating.

  • 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.

  • The Gathering Services Agreement (LACT Units) between TUSA and Caliber Measurement entered into on September 12, 2013.Caliber Fresh Water and TUSA entered the Fresh Water Sales Agreement (the “ Fresh Water Agreement”), dated May 13, 2014.

  • Summary of Procedures for LACT Units • Prove LACT meters quarterly or every 75,000 barrels, whichever comes first unless ◇ directed otherwise by regulatory or contractualobligations, ◇ the fluid characteristics and operation require more frequent proving, ◇ the flow rate increases or decreases by 15% or more, or ◇ the gravity significantlychanges.

Related to LACT Units

  • Common Units is defined in the Partnership Agreement.

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

  • Company Units has the meaning set forth in the Recitals.

  • Trust Units means units of the Trust;

  • LLC Units has the meaning set forth in the LLC Agreement.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • public units means the state or a political subdivision or instrumentality of the state including a county, school corporation, special district, drainage district, unincorporated town or township, municipality, or municipal corporation or any agency, board, or commission of the state or a political subdivision; any court or public body; an electric power agency; federal and state grant moneys of a quasi-public state entity under Iowa Code section 12C.1, subsection (2e), and this chapter. Public units additionally include, but are not limited to:

  • Purchased Units has the meaning specified in Section 2.01.

  • Unit Shares means the Common Shares comprising part of the Units;

  • Class B Units means the Class B Units of the Company.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Preferred Units means all Partnership Interests designated as preferred units by the General Partner from time to time in accordance with Section 4.02 of the Partnership Agreement.

  • Series A Units means Series A currency hedged mutual fund units and/or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Covered Units means: (i) during the period of the Employee’s employment with the Corporation, each business unit of the Corporation; and (ii) following the Employment Termination Date, each business unit of the Corporation in or for which the Employee was employed or to which the Employee provided services or about which the Employee obtained or had access to Confidential Information, in each case of this clause (ii) at any time within the twenty-four (24)-month period prior to the Employment Termination Date. The Employee acknowledges and agrees that if the Employee is or was employed at a segment level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of such segment; and if the Employee is or was employed at the corporate/headquarters level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of the Corporation.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Unvested Units means any Executive Units which are not Vested Units.