Petroleum Inspection Company definition

Petroleum Inspection Company has the meaning set forth on Schedule 2.6.3.2.
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Petroleum Inspection Company has the meaning set forth in Section 3.1.1 of this Agreement.
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Petroleum Inspection Company means Saybolt.
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Examples of Petroleum Inspection Company in a sentence

  • Within ten (10) Business Days after the Closing Date, the Petroleum Inspection Company shall provide the Parties with a physical inventory report setting forth the quantity (which shall be temperature, API gravity, bottom sediment & water (BS&W), and pressure corrected) and qualitative laboratory results of the Feedstock and Products Inventory (excluding In-Transit Inventory, Refinery OSBL Line Fill, and Retained Feedstock and Products).

  • The Inventory Schedule will be mutually developed between the Buyer, Seller and Petroleum Inspection Company.

  • The Petroleum Inspection Company shall make all calibration and certification records available to any Party for review.

  • Of the sample sets obtained during the physical inventory process, one half (1/2) of each set will be sealed and retained by the Petroleum Inspection Company.

  • The Petroleum Inspection Company will provide quality assurance documentation for its laboratory used for the physical inventory process.

  • The Parties shall be deemed to have accepted the accuracy of the gauging and temperature measurements of a tank as recorded by the Petroleum Inspection Company on the gauge ticket (to be mutually developed) (the “Gauge Ticket”) if the Parties’ respective Inventory Committee representatives “sign-off” on the Gauge Ticket.

  • The last tickets used to record Product sales or other Product transactions through the meters will be photocopied and retained by Buyer, Seller, and the Petroleum Inspection Company.

  • The Petroleum Inspection Company report will identify each tank by number, location and description.

  • Inspection/Testing costs for the Petroleum Inspection Company, including, travel, laboratory, and incidental costs (such as bottles, bombs, seals, etc.), shall be shared on a 50/50 basis (i.e., 50% by the Seller and 50% by the Buyer) by the Parties.

  • All gauging, temperature measurment, sampling, testing and net volume calculations will be done by the Petroleum Inspection Company with the participation of Buyer’s and Seller’s Inventory Committee representatives using a mutually agreed upon gauging and sampling schedule by tank (the “Inventory Schedule”).


More Definitions of Petroleum Inspection Company

Petroleum Inspection Company has the meaning set forth in Part I of Schedule 2.3.6.2. “Post-Closing Statement” has the meaning set forth in Section 2.6.3.4(a). “Prepayments” has the meaning set forth in Section 2.1.11. “Prime Rate” means the prime lending rate as reported in The Wall Street Journal from time to time as the base rate on corporate loans. “Prudent Businessman Standard” has the meaning set forth in Section 2.3.6.3. “Purchase Price” has the meaning set forth in Section 2.6.1. “Qualifying Event” has the meaning set forth in Section 6.5.15. “RCRA Corrective Action Permit” means the Oklahoma Department of Environmental Quality Corrective Action Permit for a Closed Hazardous Waste Management Facility (Permit No. OKD058078775-PC). “Real Property Leases” has the meaning set forth in Section 2.1.2. “Refinery” has the meaning set forth in 40 C.F.R. § 80.2. “Release” shall have the meaning set forth in Environmental Laws, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act, as amended, at 42 U.S.C. § 9601(22) and any analogous state Laws. “Remedial Work” means action of any kind to respond to a Release or the presence of Hazardous Substances at, on, in, upon, over, across, under, within or migrating from the real property included in the Assets, including all investigative, site monitoring, restoration, abatement, detoxification, containment, handling, treatment, removal, storage, decontamination, clean-up, transport, disposal or other ameliorative work, corrective action or response action required by (a) any Environmental Law, (b) any lawful order or enforceable request of any federal, state or local agency, or (c) any final judgment, consent decree, settlement or compromise with respect to any Environmental Law, excluding, however, (i) the obtaining, amendment, renewal or maintenance of any Environmental Permits, including permits for any “grandfathered” units, except for Environmental Permits required to implement and complete Remedial Work, and (ii) monetary fines and penalties for violations of Environmental Laws. “Representative” means, with respect to any Party, such Party and its Affiliates and their directors, officers, agents, consultants, partners, members, managers, employees and advisors Schedule 1.1
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Related to Petroleum Inspection Company

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • Geotechnical engineer means a professional engineer registered with the Association of Professional Engineers, Geologists, and Geophysicists of the Northwest Territories and whose principal field of specialization is the design and construction of earthworks in a permafrost environment;

  • Approved Petroleum Engineers means (a) Netherland, Xxxxxx & Associates, Inc., (b) Xxxxx Xxxxx Company Petroleum Consultants, L.P. and (c) any other independent petroleum engineers reasonably acceptable to the Administrative Agent.

  • Approved Petroleum Engineer means (a) Netherland, Xxxxxx & Associates, Inc., (b) Xxxxx Xxxxx Company Petroleum Consultants, L.P., (c) Xxxxxxxxxx Petroleum Consultants, Inc., or (d) any reputable firm of independent petroleum engineers selected by the Borrower and reasonably acceptable to the Administrative Agent.

  • Plant Site (Works, Factory) means the local integration of one or more plants, with any intermediate administrative levels, which are under one operational control, and includes common infrastructure, such as:

  • Environmental Management System means an environmental management system or plan of management to address all environmental risks and to ensure compliance with all Environmental Laws and licences;

  • Production company means a person or entity engaged in the business of making motion picture, television, or radio images for theatrical, commercial, advertising, or education purposes; Reserved

  • Environmental Management Plan or “EMP” means the environmental management plan for the Project, including any update thereto, incorporated in the IEE;

  • Refinery means a facility used to produce motor fuel from crude oil, unfinished oils, natural gas liquids, or other hydrocarbons and from which motor fuel may be removed by pipeline, by marine vessel, or at a rack.

  • Home inspection means the on-site, physical review of the home of an applicant to assure the applicant and the home meets all health and safety requirements within these rules.

  • Environmental Management Framework and “EMF” mean the framework of the Borrower for the management of social and environmental aspects of the Project dated April 24, 2007 and disclosed to the public on even date therewith, as may be amended from time to time with the prior approval of the Bank.

  • Environmental Review means the Federal

  • CBM means Capacity Benefit Margin.

  • Mines means those devices defined in Article 2, Paragraphs 1, 4 and 5 of Protocol II annexed to the Convention on Prohibitions and Restrictions on the Use of Certain Conventional Weapons Which May Be Deemed to Be Excessively Injurious or to Have Indiscriminate Effects of 1980.

  • Environmental Site Assessment means a Phase I environmental report meeting the requirements of the American Society for Testing and Materials, and, if in accordance with customary industry standards a reasonable lender would require it, a Phase II environmental report, each prepared by a licensed third party professional experienced in environmental matters.

  • Mine means to carry on an operation with a view to, or for the purpose of—

  • Site means the place or places where the permanent Works are to be carried out including workshops where the same is being prepared.

  • Structural Engineer means the Engineer appointed or to be appointed from time to time by Promoter for the preparation of the structural design and drawings of the buildings .

  • Title V operating permit means a permit issued under Chapter 3745-77 of the Administrative Code.

  • Site Assessment means an environmental assessment report for the Mortgaged Property prepared at Borrower’s expense by a qualified environmental consultant engaged by Borrower, or by Lender on behalf of Borrower, and approved by Lender, and in a manner reasonably satisfactory to Lender, based upon an investigation relating to and making appropriate inquiries to evaluate the risks associated with Mold and any existence of Hazardous Materials on or about the Mortgaged Property, and the past or present discharge, disposal, release or escape of any such substances, all consistent with the most current version of the ASTM 1527 standard (or any successor standard published by ASTM) and good customary and commercial practice.

  • Transportation Company means any organization which provides its own or its leased vehicles for transportation or which provides freight forwarding or air express services.

  • Geothermal resources shall collectively mean the matter, substances and resources defined in subparagraph 16(a) and 16(b) that are not subject to this Lease but are located on adjacent land or lands in reasonable proximity thereto;

  • Remediation waste management site means a facility where an owner or operator is or will be treating, storing or disposing of hazardous remediation wastes. A remediation waste management site is not a facility that is subject to corrective action under § 264.101 of this regulation, but is subject to corrective action requirements if the site is located in such a facility.

  • Onsite means within the Prescribed Premises boundary.

  • Stormwater management basin means an excavation or embankment and related areas designed to retain stormwater runoff. A stormwater management basin may either be normally dry (that is, a detention basin or infiltration basin), retain water in a permanent pool (a retention basin), or be planted mainly with wetland vegetation (most constructed stormwater wetlands).