Petroleum Products Inventory definition

Petroleum Products Inventory means (i) Xxxx Energy’s physical inventory of fungible, marketable petroleum products, including petroleum additives and diesel exhaust fluid, held for its own account that are usable and salable in the Ordinary Course of Business (as such term is defined in Schedule 1.1(a)) and (ii) Tank Bottoms (as such term is defined in Schedule 1.1(a)) owned by Xxxx Energy. Physical inventory of such petroleum products, including petroleum additives and diesel exhaust fluid, shall be determined in the manner specified in Schedule 1.1
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Petroleum Products Inventory means (i) Coen Energy’s physical inventory of fungible, marketable petroleum products, including petroleum additives and diesel exhaust fluid, held for its own account that are usable and salable in the Ordinary Course of Business (as such term is defined in Schedule 1.1(a)) and (ii) Tank Bottoms (as such term is defined in Schedule 1.1(a)) owned by Coen Energy. Physical inventory of such petroleum products, including petroleum additives and diesel exhaust fluid, shall be determined in the manner specified in Schedule 1.1(a) attached hereto and as set forth in a detailed calculation certified by Coen Energy in the Closing Certificate.
Sample 1
Petroleum Products Inventory means (i) the physical inventory of fungible, marketable petroleum products that are usable and salable in the Ordinary Course of Business and included as part of the Purchased Assets, the amounts of which shall be determined in accordance with Schedule I, and (ii) tank bottoms, the amounts of which shall be determined in accordance with Schedule I.
Sample 1

Examples of Petroleum Products Inventory in a sentence

  • All Inventory and Petroleum Products Inventory, whether or not reflected in the Financial Reports, consists of a quality usable and salable in the ordinary course of business, except for obsolete or damaged items that have been written off or written down to fair market value or for which adequate reserves have been established.

  • The Minimum Petroleum Products Inventory Requirements of the Company and its Subsidiaries on a Consolidated basis is 2,300,000 barrels as of the date hereof.

  • Xxxx Energy shall have delivered to the Purchaser a certified copy of the calculation of the Petroleum Products Inventory and the Petroleum Products Inventory Value in a form acceptable to Purchaser (the “Closing Certificate”).

  • The volume of product, specifications of the product and Tank Bottoms and calculation of final Petroleum Products Inventory will be determined in accordance with the procedures set forth on Schedule 1.1(a).

  • The Company and its Subsidiaries may maintain Open Positions relating to product inventory requirements that do not exceed 1,000,000 barrels plus the Minimum Petroleum Products Inventory Requirements at any time.

  • The Minimum Petroleum Products Inventory Requirements of the Company and its Subsidiaries on a Consolidated basis is 2,000,000 barrels as of the date hereof.

  • All Inventory and Petroleum Products Inventory, is owned by the Companies free and clear of all Liens (other than Permitted Liens), and no Inventory or Petroleum Products Inventory, is held on a consignment basis.

  • The date of the Inventory Statement prepared for each Contract Operator Premises pursuant to Section 3.2 (Refined Petroleum Products Inventory Count) shall be determined as of the time Buyer assumes the operation of such premises on the Conversion Date.

  • On the Closing Date, the custody of all of the Petroleum Products Inventory stored at the Terminals will be transferred to Buyer.

  • These value estimates were made using unescalated prices of $61.18 per barrel of oil, $34.44 per barrel of NGLs and $3.86 per Mcf of natural gas, adjusted for price differentials, for the estimated life of the respective properties.


More Definitions of Petroleum Products Inventory

Petroleum Products Inventory means the Seller Petroleum Products Inventory and the Third Party Inventory. “Petroleum Products Inventory Value” means (i) the average of the prices for the fungible, marketable petroleum products, including ethanol and petroleum additives, that are usable and salable in the Ordinary Course of Business included in the Seller Petroleum Products Inventory, as reported by Xxxxx’x as New York Harbor Barge Mean for the day before, the day of and the day following the Closing, in the case of petroleum products and ethanol, or on Carbo’s most recent paid invoice, in the case of petroleum additives not reported in Xxxxx’x, and (ii) with respect to the Tank Bottoms included in the Seller Petroleum Products Inventory, the value shall be Zero Dollars ($0). “Pre-Closing Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any taxable period beginning before and ending after the Closing Date, the portion of such taxable period ending on and including the Closing Date. “Principal” means Xxxx Xxxxxxxxxx. “Proprietary Information” means all information concerning the Business that a reasonable person familiar with the Business and the industry in which it operates would consider to be of a confidential or proprietary nature, regardless of form, including, without limitation, (A) any information, technical data, content, or know-how relating to business plans, or opportunities, business strategies, or projects under consideration; (B) customer lists and the identity of prospective customers; (C) the pricing of products and services and (D) financial and employment information. “Purchase Price” has the meaning set forth in Section 2.05. “Purchased Assets” has the meaning set forth in Section 2.01. “Qualified Benefit Plan” has the meaning set forth in Section 4.18(c). “Reconciliation Statement” has the meaning set forth in Section 2.09. “Release” means any actual or threatened release, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, abandonment, disposing or allowing to escape or migrate into or through the environment (including, without limitation, ambient air (indoor or outdoor), surface water, groundwater, land surface or subsurface strata or within any building, structure, facility or fixture).
Sample 1
Petroleum Products Inventory means (i) the physical inventory of fungible, marketable petroleum products that are usable and salable in the Ordinary Course of Business and included as part of the Purchased Assets, the amounts of which shall be determined in accordance with Schedule I, and(ii) tank bottoms, the amounts of which shall be determined in accordance with Schedule I.
Sample 1

Related to Petroleum Products Inventory

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Petroleum product means crude oil, petroleum, refined petroleum products, byproducts and intermediate feed stocks, 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.

  • Product Inventory means all inventory of the Product owned by Seller or its Affiliates as of the Closing, including raw materials, work-in-process, bulk form drug and finished Product.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Finished Goods means units of a manufactured product awaiting sale.

  • Eligible Finished Goods Inventory means all Finished Goods Inventory that is Eligible Inventory.

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Finished Products means any one or more of the following petroleum oils, or a mixture or combination of these oils, to be used without further processing except blending by mechanical means:

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • Products means information resources technologies that are, or are related to, EIR.

  • Finished Product means a cannabis product in its final form to be sold at a retail premises.

  • Raw Materials means all raw materials, supplies, components and packaging necessary to manufacture and ship the Product in accordance with the Specifications, as provided in Exhibit A, but not including the API.

  • Manufactured good means a good brought to the construction site for incorporation into the building or work that has been--

  • Excluded Products means the items described on the applicable restricted products per country, any other applicable Program Policy, or any other information made available to you by LINIO.

  • Tobacco products means cigars, cigarettes, cheroots, stogies, periques, granulated, plug cut, crimp cut, ready rubbed, and other smoking tobacco, snuff, snuff flour, moist snuff, cavendish, ping and twist tobacco, fine-cut and other chewing tobaccos, shorts, refuse scraps, clippings, cuttings and sweepings of tobacco, and other kinds and forms of tobacco, prepared in such manner as to be suitable for chewing or smoking in a pipe or otherwise, or both for chewing and smoking.

  • Obsolete Inventory means items that have expired, are redundant or

  • Manufactured end product means any end product in product and service codes (PSCs) 1000-9999, except—

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • plant products means products of plant origin, unprocessed or having undergone simple preparation in so far as these are not plants, set out in Annex IV-A, Part 3 to this Agreement;

  • Product means any deliverable under the Contract, which may include commodities, services, technology or software.

  • Seller Products means all products and services that are being manufactured or performed by Seller at any time, other than Logic Business Products that are being manufactured or performed by Seller as of the Closing Date.

  • shipped includes removal from the work sites by ship or any other means;

  • Locally manufactured goods means goods whose value, either in whole or in part, is derived from growing, producing, processing, assembling, or manufacturing activities that occur within a city-based manufacturer's facility located within the city.

  • Excluded Inventory means any of the following inventory of goods, merchandise, or other inventory of Seller located at the Leased Premises: (a) all items in the Fresh Departments;

  • Cannabis products means cannabis that has undergone a process whereby the plant material has been transformed into a concentrate, including, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other ingredients.

  • Hemp products means all products made from industrial hemp,