Petroleum Inventory definition

Petroleum Inventory means Inventory consisting of refined petroleum products, crude oil, condensate, natural gas liquids, liquefied petroleum gases, asphalt or any blend thereof.

Petroleum Inventory means inventory consisting of crude oil, petroleum, refined petroleum products, byproducts and intermediate feedstocks, and other energy-related commodities, including, without limitation, blend components commonly used in the petroleum industry to improve characteristics of, or meet governmental or customer specifications for, petroleum or refined petroleum products, all of which inventory shall be valued at market.

Petroleum Inventory means all gasoline, diesel and kerosene products of the Business measured in gallons.

Examples of Petroleum Inventory in a sentence

• The amount payable for the Petroleum Inventory will equal Seller's rack price based on Seller's latest invoices for gasoline delivered to the Real Estate.

• The Inventories are in good and merchantable condition and constitute a customary and normal supply and product mix, consistent with Seller's past practice, of saleable Merchandise Inventory and Petroleum Inventory currently sold at normal prices in the ordinary course of business of the Business.

• After the ------------------------------------------- petroleum inventory and in-store inventory are completed, the sum of the amount payable for the Petroleum Inventory and the amount payable for the Store Inventory will be subtracted from the sum of the Estimated Price of Store Inventory and the Estimated Price of Petroleum Inventory set forth in Section 1.

• Therefore, Seller will not collect sales tax on the sale of the Store Inventory or the Petroleum Inventory to Buyer.

• Section 15 provides for the final determination of the amount payable for the Store Inventory and the Petroleum Inventory.

More Definitions of Petroleum Inventory

Petroleum Inventory means saleable gasoline, kerosene and diesel fuel at the Locations as of the Closing. For purposes of determining Petroleum Inventory, “saleable” shall mean conforming to the octane, brand and applicable requirements for sales of fuel from the Fuel Equipment at the Locations.

Petroleum Inventory means crude oil, condensate, natural gas liquids (N.L.'s), liquefied petroleum gases (LPG's) or any blend thereof.

Petroleum Inventory means Inventory consisting of Petroleum Products, which Inventory shall be valued at the Petroleum Inventory Market Price (including any premium or discount to reflect location differentials).

Petroleum Inventory means saleable gasoline, diesel fuel, diesel exhaust fluid and kerosene at the applicable Locations and on the Acquired Rolling Stock all as of the Measurement Time. For purposes of determining Petroleum Inventory, “saleable” means (i) for gasoline fuel, gasoline which conforms to the octane, brand and applicable requirements for sales of motor fuels from the Petroleum Equipment at the Locations or located on the Acquired Rolling Stock and (ii) for diesel fuel and diesel exhaust fluid, diesel fuel and diesel exhaust fluid which meet all applicable federal, state and local government specifications for highway use in effect at the time and place of delivery from the Diesel Equipment at the Locations or located on the Acquired Rolling Stock.

Petroleum Inventory means crude oil, refined products thereof, condensate, natural gas, natural gas liquids, liquefied petroleum gases or any blend thereof.

Petroleum Inventory means saleable gasoline, kerosene, diesel and other fuel/liquid that is available for sale as part of the Business as of the Closing. For purposes of determining Petroleum Inventory, “saleable” means conforming to the octane, brand and applicable requirements for sales of fuel and from tanks that do not contain more than one inch of water.

Petroleum Inventory means Inventory consisting of refined petroleum products, crude oil, condensate, natural gas liquids, liquefied petroleum gases, asphalt or any blend thereof. “Plan” shall mean an “employee benefit plan” as defined in Section 3 of ERISA (other than a Multiemployer Plan) maintained or contributed to by any Credit Party, any of their respective Subsidiaries or any of their respective ERISA Affiliates or any Unrestricted Subsidiaries that are ERISA Affiliates or with respect to which any Credit Party, any of their respective Subsidiaries or any of their respective ERISA Affiliates or any Unrestricted Subsidiaries that are ERISA Affiliates has any obligation to contribute or any liability. “Pledge and Security Agreement” shall have the meaning provided in Section 6.10. “Pledge and Security Agreement Collateral” shall mean all “Collateral” as defined in the Pledge and Security Agreement. “Post Supplier Payment Period” shall mean the period commencing on the date on which a Borrower shall have paid in full all amounts owed for the purchase of Petroleum Inventory (the “Full Payment Date”), the payment for which was supported by a standby Letter of Credit issued specifically for such purpose and ending on the earlier of (a) three Business Days after the Full Payment Date and (b) the