Petroleum Products Inventory definition

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) 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(a) attached hereto and as set forth in a detailed calculation certified by Xxxx Energy in the Closing Certificate. “Petroleum Products Inventory Value” “ means (i) the average of the prices for the fungible, marketable petroleum products, including petroleum additives and diesel exhaust fluid, that are usable and salable in the Ordinary Course of Business included in the Petroleum Products Inventory, as reported by OPIS for Pittsburgh, PA low for the day before, the day of and the day following the Closing, in the case of petroleum products, or on Seller’s most recent paid invoice, in the case of petroleum additives and diesel exhaust fluid, and (ii) with respect to the Tank Bottoms included in the Petroleum Products Inventory, the value shall be Zero Dollars ($0). “Plans” has the meaning set forth in Section 3.11(a). “Position Statement” has the meaning set forth in Section 2.7(e)(i). “Pre-Closing Tax Period” means any taxable period ending on or before the Closing Date and the portion of any Straddle Period up to and including the Closing Date. “Purchase Price” means an amount equal to (i) the Base Purchase Price, plus (ii) Closing Cash, if any, plus (iii) the Petroleum Products Inventory Value, plus (iv) Capital Expenditures. “Purchaser” has the meaning set forth in the preamble of this Agreement. “Purchaser Claims” has the meaning set forth in Section 8.2(a). “Purchaser Group” has the meaning set forth in Section 8.4(e). “Purchaser Indemnified Parties” has the meaning set forth in Section 8.2(a). “Purchaser Plans” has the meaning set forth in Section 5.10(d). “Purchaser Related Persons” has the meaning set forth in Section 8.8(a). “Purchaser Transaction Agreements” has the meaning set forth in Section 4.1.
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

  • On the Closing Date, the Port Morris Terminal shall be gauged by an independent third party mutually acceptable to the Parties, at which time the custody of all of the Petroleum Products Inventory owned by Sellers and stored at the Terminal will be transferred to Buyer, and Buyer shall be responsible to Sellers for such Petroleum Products Inventory in Buyer’s custody.

  • Buyer and Seller shall mutually agree upon a final Petroleum Products Inventory to be calculated as of the Closing Date in accordance with Schedule I.

  • Allowance will be given for reasonable telephone calls to the Employee’s Homes.

  • Petroleum Products Inventory Storage/Use Procedures All on-site vehicles and equipment shall be monitored for leaks and receive regular preventative maintenance to reduce the chance of leakage.


More Definitions of Petroleum Products Inventory

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
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(a) attached hereto and as set forth in a detailed calculation certified by Xxxx Energy in the Closing Certificate.
Sample 1
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

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 gasoline, gasoline−alcohol fuel blends, kerosene, fuel oil, burner oil, diesel fuel oil or used motor oil.

  • Finished Goods means completed goods which require no additional processing or manufacturing to be sold to third party customers by the Loan Parties in the ordinary course of business.

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrower’s business.

  • 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.

  • 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.

  • 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

  • Solid film lubricant means a very thin coating consisting of a binder system containing as its chief pigment material one or more of molybdenum disulfide, graphite, polytetrafluoroethylene (PTFE) or other solids that act as a dry lubricant between faying surfaces.

  • 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 provisions in storerooms, refrigerators, pantries and kitchens, beverages in wine cellars and bars, other merchandise intended for sale, fuel, mechanical supplies, stationery, and other 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.

  • 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.

  • 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,