Refinery Assets definition

Refinery Assets means refineries and related assets that accept crude oil or feedstock or ship product pursuant to a Borrower Operating Agreement.

Refinery Assets means substantially all of the assets of TARC immediately prior to the Transaction Closing Date.

Refinery Assets means all of the items described and identified in Section 2.1.1.

Examples of Refinery Assets in a sentence

• Subject to Sections 2.2, 3.1.8, 4.1.11 and 7.2.1 and the Technology Agreement, all rights and obligations of the Sellers under Contracts relating exclusively to the ownership or operation of the Refinery Assets or the Refinery Business as currently operated by any one or more of the Sellers including those Contracts set forth in Schedule 2.1.1.4 (collectively, the “Assigned Refinery Contracts”).

• Subject to Sections 2.2 and 7.2.1, all Permits in favor of the Sellers from any federal, state or local regulatory agencies which are necessary to and used exclusively in connection with the ownership of the Refinery Assets or the operation of the Refinery Business as currently operated by the Sellers, including those Permits identified in Schedules 14.1.4.1 and 14.1.7.1 under the headings “Refinery Permits”.

More Definitions of Refinery Assets

Refinery Assets is hereby added to the Original Indenture to read in its entirety as follows:

Refinery Assets has the meaning set forth in Section 2.2.

Refinery Assets means property, plant and equipment used or to be used in the business of gathering, wholesale marketing, refining, distilling, wholesale distributing, terminalling, treating, processing, storing or transporting oil, gas or other hydrocarbons or related products, and other assets that are reasonably related thereto.

Refinery Assets means the petroleum refinery facilities owned by Borrowers or their Restricted Subsidiaries located in Coffeyville, Kansas and Phillipsburg, Kansas and related assets, including any associated crude oil gathering assets and pipelines.

Refinery Assets means the Wood River Refinery and the Xxxxxx Refinery.

Refinery Assets is hereby added to the Intercompany Loan Agreement to read as follows:

Refinery Assets all real property, fixtures and Equipment owned by Calumet Montana and located at or necessary to the operation of the refinery located in Great Falls, Montana and Black Eagle, Montana and operated by Calumet Montana, including such property listed on Schedule 1.1I hereto; provided that for the avoidance of doubt, in no event shall any “Refinery Assets” ever be deemed to consist of or include any metal or other element, composite or alloy used as, or part of, a catalyst in the operation of the refinery assets of any Consolidated Party. “Refinery Asset Borrowing Base Component” – at any time, an amount equal to the lesser of (a) $99,550,000 multiplied by the Refinery Asset Multiplier in effect at such time and (b) 50% of the Value of the Refinery Assets at such time; provided that, (x) the Refinery Asset Borrowing Base Component shall automatically be excluded as ineligible for inclusion in the Aggregate Borrowing Base and reduced to $0 upon any Disposition of all or any part of the Refinery Assets (other than Dispositions effected in accordance with Section 9.2.5 (h)), and (y) the Refinery Asset Borrowing Base Component may at any time be permanently reduced to $0 by Borrowers if (i) immediately before and after giving effect to such reduction, no Overadvance shall exist and (ii) Borrower delivers to Agent at least five Business Days prior to the date of reduction (or such earlier date at Agent shall agree), written notice of such reduction and an updated Borrowing Base Certificate prepared as of the close of business of the immediately preceding month after giving pro forma effect to such reduction.