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

Examples of Refinery Assets in a sentence

• AND WHEREAS the Parties have agreed to negotiate the terms upon which they will form the FCCL Oil Sands Partnership to own and operate the Oil Sands Assets, and the US Refinery LLC to own and operate the Refinery Assets, as more particularly described in this Agreement.

• Schedule 7.1(a)(ii) lists each individual who is employed by Sunoco or its Affiliates and is not physically located at the Refinery, but has been designated by Sunoco as primarily serving the Refinery or as having skills which could reasonably support the operation of the Refinery Assets by NewCo or its Affiliates, including certain support services senior managers designated by TCG within twenty days of the execution of this Agreement, each referenced herein as a “Support Services Senior Manager”.

• There are no experimental data on the product itself related to toxicological properties.

• Upon liquidation or dissolution, the EnCana (US) Subscription Note will accelerate and the property of the US Refinery LLC (which includes amounts paid under the EnCana (US) Subscription Note) shall be distributed to the Members on an undivided basis in accordance with Treasury Regulations paragraph 1.704-1(b)(2)(ii) and the former Members shall use all commercially reasonable efforts to negotiate a joint operating agreement to govern the ownership and operation of the Refinery Assets.

• All material Taxes owed with respect to any of the Refinery Assets or the Refinery Business that are or have become due have been paid in full.

More Definitions of Refinery Assets

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

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, pipelines and Pipeline.

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

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.

Refinery Assets means the refineries and related assets of Valero or its Affiliates commonly referred to as the McKee, Three Rivers and Ardmore refineries.