Refinery Land definition

Refinery Land means the tract (or parcel) of land described in Schedule 1.01F, together with easements, appurtenances and other hereditaments appurtenant to the Refinery Land and all the estates and rights of Seller in and to said Refinery Land, subject to Permitted Encumbrances.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Refinery Land means the tracts or parcels of land, and interests in land, owned or leased by Premcor Refining and on which the Refinery is located, as described in Section 1.1(a) of the Disclosure Schedules.

Examples of Refinery Land in a sentence

• The Refinery Land is also encumbered by the terms set forth on Schedule 1.01D.

• Sellers shall pay for the basic premium for coverage under the Title Policy in amount equal to the value of the Refinery Land covered thereby, as reflected on the county property tax rolls.

• For purposes of this paragraph, the term “Qualifying Facility” shall mean the combined-cycle cogeneration facility located on the Refinery Land, comprised of several generating units, which was self-recertified as a QF on April 29, 2004 in FERC Docket No. QF92-17-002.

• Refinery Property: collectively, the Refinery Land and all structures, equipment, amenities and other improvements, thereon, including without limitation, the fluid catalytic cracking unit.

• Buyer currently leases a portion of the Land (the "Refinery Land") from Seller pursuant to that certain Amended and Restated Ground Lease dated July 31, 1987 between Industrial Asphalt, as landlord, and Huntway Refining Company, a California limited partnership, as tenant (the "Refinery Lease").

• The Refinery Land is also encumbered by the items set forth on Schedule 1.01E.

• Seller shall cooperate with Buyer and Buyer's authorized representa- tives in respect of any examination, search or survey hereunder and, to the extent available, deliver to Buyer all existing title insurance policies, list of deeds and leaseholds, tax bills and surveys relating to the Refinery Land, the Leased Property and the appurtenances thereto.

• Buyer may procure commitments or policies from a title insurance company mutually agreeable to Seller and Buyer (the “Title Company”) to provide owner’s title insurance policies with respect to the Refinery Land; provided, however, that Buyer’s ability or inability to obtain title insurance on such real property shall not cause there to be an adjustment to the Purchase Price; provided, however, the foregoing shall not be deemed to mitigate Seller’s representations and warranties set forth in Section 5.11.

• Without limiting the generality of the foregoing, Buyer acknowledges that (i) Buyer and/or its affiliate currently leases the Refinery Land from Seller, and has occupied and been in possession of the Refinery Land prior to the date hereof pursuant to the Refinery Lease, and (ii) Buyer and/or its affiliate is the sublessee of Seller under the Railroad Leases.

• There are no pending or threatened condemnation or eminent domain proceedings or contemplated sales in lieu thereof, involving a partial or total taking of any of the Refinery Land.