Petroleum Products Inventory Value definition

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).
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Petroleum Products Inventory Value means (i) the average of the prices for the fungible, marketable petroleum products that are usable and salable in the Ordinary Course of Business included in the Petroleum Products Inventory, as reported in Platt’s for the day before, the day of and the day following the Closing, and (ii) with respect to the tank bottoms included in the Petroleum Products Inventory, the value determined in accordance with Schedule I.
Sample 1
Petroleum Products Inventory Value means (i) the average of the prices for the fungible, marketable petroleum products that are usable and salable in the Ordinary Course of Business included in the Petroleum Products Inventory, as reported in Xxxxx’x for the day before, the day of and the day following the Closing, and (ii) with respect to the tank bottoms included in the Petroleum Products Inventory, the value determined in accordance with Schedule I.
Sample 1

Examples of Petroleum Products Inventory Value in a sentence

  • 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 aggregate purchase price for the Purchased Assets shall be (i) Fifty Six Million Dollars ($56,000,000), plus (ii) the Petroleum Products Inventory Value, plus (iii) the Severance Payments, plus (iv) the assumption of the Assumed Liabilities.


More Definitions of Petroleum Products Inventory Value

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 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 Value

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

  • 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.

  • 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.

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

  • 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.

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Baseline concentration means that ambient concentration level that exists in the baseline area at the time of the applicable minor source baseline date. A baseline concentration is deter- mined for each pollutant for which a minor source baseline date is estab- lished and shall include:

  • ex-works price means the price paid for the product ex works to the manufacturer in the EU or in a SADC EPA State in whose undertaking the last working or processing is carried out, provided the price includes the value of all the materials used, minus any internal taxes paid which are, or may be, repaid when the product obtained is exported;

  • 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.

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

  • 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.