Shell Capacity definition

Shell Capacity means the gross storage capacity of a tank for each respective Product, based upon its dimensions, as set forth in an applicable Terminal Service Order.

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Shell Capacity has the meaning set forth in Section 2

Shell Capacity means the shell capacity of the Facilities as set forth on, and adjusted in accordance with, Exhibit E-2.

Examples of Shell Capacity in a sentence

• The Storage Services Fee shall be calculated using the per Barrel rate set forth on the initial Terminal Service Order executed effective as of the Commencement Date for the then-existing aggregate Shell Capacity of the tanks specified in such initial Terminal Service Order.

• The Parties recognize that the existing Operating Capacity of certain tanks may be less than the Shell Capacity of such Dedicated Tanks, but the Parties acknowledge and agree that the Storage Services Fee shall be set in terms of a dollar-per-Barrel per Month rate based on Shell Capacity in the applicable Terminal Service Order.

• Customer shall pay a Monthly fee (the “Storage Services Fee”) to reserve, on a firm basis, all of the existing aggregate Shell Capacity of certain tanks (the “Dedicated Tanks”) as specified on a Terminal Service Order.

• For the duration of the Force Majeure Period, the Storage Services Fee shall be reduced by an amount equal to the Shell Capacity for each affected Tank, provided that if TRMC is able to continue to store Product in a Tank during the Force Majeure Period, but at a reduced Operating Capacity, the Storage Services Fee shall be reduced in proportion to the amount the effective Operating Capacity is reduced.

• The Storage Services Fee shall be calculated using the per Barrel rate set forth on the Terminal Service Orders executed effective as of the Commencement Date for the then-existing aggregate Shell Capacity of all of the Tanks in the Storage Facility.

• The Parties recognize that the existing Operating Capacity of certain Tanks may be less than the Shell Capacity of such Tanks, but the Parties acknowledge and agree that the Storage Services Fee shall be set in terms of a dollar-per-Barrel per Month rate based on Shell Capacity in the applicable Terminal Service Order.

• Commencing on the Effective Date, the monthly storage fee as set forth in Section 4 of the Agreement will change to *** per Barrel of Shell Capacity (the “Monthly Storage”), for a total of ***, regardless of the actual volume of Crude Oil placed in the facility.

• The Parties recognize that the existing Operating Capacity of certain tanks is less than the Shell Capacity of such Dedicated Tanks, but the Parties acknowledge and agree that the Storage Services Fee shall be set in terms of a dollar-per-Barrel per Month rate based on Shell Capacity in the applicable Terminal Service Order.

• TRMC shall pay a Monthly fee (the “Storage Services Fee”) to reserve, on a firm basis, all of the existing aggregate Shell Capacity of all of the Tanks in the Storage Facility.

• The Parties recognize that the existing Operating Capacity of certain Tanks is less than the Shell Capacity of such Tanks, but the Parties acknowledge and agree that the Storage Services Fee shall be set in terms of a dollar-per-Barrel per Month rate based on Shell Capacity in the applicable Terminal Service Order.

More Definitions of Shell Capacity

Shell Capacity means the gross storage capacity of a Tank, based upon its dimensions, as set forth for each Tank on Schedule B attached hereto. “Shortfall Credit” has the meaning set forth in Section 8(a). “Storage Facility” has the meaning set forth in the Recitals. “Suspension Notice” has the meaning set forth in Section 22(a). “Tanks” mean the five (5) tanks owned by TLO and listed on Schedule B attached hereto, each of which is used for the storage of Products and located at the Storage Facility. “Term” and “Initial Term” each have the meaning set forth in Section 4. “Termination Notice” has the meaning set forth in Section 21(a). “Throughput and Tankage Fees” has the meaning set forth in Section 5(a). “TLO” has the meaning set forth in the Preamble. “TLO Indemnitee” and “TLO Indemnitees” have the meanings set forth in Section 19(b). “TRMC” has the meaning set forth in the Preamble. “TRMC Indemnitee” and “TRMC Indemnitees” have the meanings set forth in Section 19(a). “TRMC Termination Notice” has the meaning set forth in Section 21(b). “URPP Use Fee” has the meaning set forth in Section 5(b). 5 \36164683.6 “Water Pipeline” has the meaning set forth in the Recitals. “Wharf” has the meaning set forth in the Recitals. “Wharf Lease” has the meaning set forth in the Recitals.

Shell Capacity means, each Month, the gross storage capacity of the Tank, based upon its dimensions, as set forth on Schedule A attached hereto and in applicable Storage Facility Service Orders, as such capacity may be adjusted for such Month as provided herein.

Shell Capacity means, in respect of a tank, the shell capacity of that tank indicated in Schedule E of the Supply and Offtake Agreement.