Designated Assignment. For a period from and including the Commencement Date to the Expiration Date (the “Designation Period”), the Company hereby assigns to ▇. ▇▇▇▇ all of the Company’s rights to use, hold Crude Oil and Products in, and transport Crude Oil and Products through, the Storage Facilities pursuant to this Agreement, subject to additional terms and conditions of this Section 28. During the Designation Period, the Partnership Parties shall note in their records and account separately for ▇. ▇▇▇▇’▇ ownership of Crude Oil and Products held in or transported through the Pipelines and Storage Facilities (collectively, the “▇. ▇▇▇▇ Materials”) until such time as ▇. ▇▇▇▇ shall notify the Partnership Parties in writing that ownership in such ▇. ▇▇▇▇ Materials has been transferred from ▇. ▇▇▇▇ to the Company, it being the intention that the Partnership Parties shall not be required to recognize any other transfers of ownership of any ▇. ▇▇▇▇ Materials (other than transfers from ▇. ▇▇▇▇ to the Company) unless such transfer and recognition are agreed to in writing by the Partnership Parties in their reasonable discretion. The Company shall act as ▇. ▇▇▇▇’▇ sole agent for all purposes of this Agreement, and the Partnership Parties shall be entitled to follow the Company’s instructions with respect to all ▇. ▇▇▇▇ Materials that are transported, stored or handled by the Partnership Parties pursuant to this Agreement unless and until the Partnership Parties are notified by ▇. ▇▇▇▇ in writing that the Company is no longer authorized to act as ▇. ▇▇▇▇’▇ agent, in which case the Partnership Parties shall thereafter follow the instructions of ▇. ▇▇▇▇ (or such other agent as ▇. ▇▇▇▇ may appoint) with respect to all ▇. ▇▇▇▇ Materials that are transported, stored or handled by the Partnership Parties pursuant to this Agreement. All volumes shipped by ▇. ▇▇▇▇ will be taken into account in the determination of whether the Company has satisfied its Minimum Throughput Commitment.
Appears in 4 contracts
Sources: Pipelines and Storage Facilities Agreement, Pipelines and Storage Facilities Agreement (Delek US Holdings, Inc.), Pipelines and Storage Facilities Agreement (Delek Logistics Partners, LP)
Designated Assignment. For a period from and including the Commencement Date to the Expiration Date (the “Designation Period”), the Company hereby assigns to ▇. ▇▇▇▇ all of the Company’s rights to use, hold Crude Oil and the Products in, and transport Crude Oil and the Products through, the Storage Facilities Terminal pursuant to this Agreement, subject to additional terms and conditions of this Section 28. During the Designation Period, the Partnership Parties Operator shall note in their its records and account separately for ▇. ▇▇▇▇’▇ ownership of Crude Oil and the Products held in or transported through the Pipelines and Storage Facilities Terminal (collectively, the “▇. ▇▇▇▇ MaterialsProducts”) until such time as ▇. ▇▇▇▇ shall notify the Partnership Parties Operator in writing that ownership in such ▇. ▇▇▇▇ Materials Products has been transferred from ▇. ▇▇▇▇ to the Company, it being the intention that the Partnership Parties Operator shall not be required to recognize any other transfers of ownership of any ▇. ▇▇▇▇ Materials Products (other than transfers from ▇. ▇▇▇▇ to the Company) unless such transfer and recognition are agreed to in writing by the Partnership Parties Operator in their its reasonable discretion. The Company shall act as ▇. ▇▇▇▇’▇ sole agent for all purposes of this Agreement, and the Partnership Parties Operator shall be entitled to follow the Company’s instructions with respect to all ▇. ▇▇▇▇ Materials Products that are transported, stored or handled by the Partnership Parties Operator pursuant to this Agreement unless and until the Partnership Parties are Operator is notified by ▇. ▇▇▇▇ in writing that the Company is no longer authorized to act as ▇. ▇▇▇▇’▇ agent, in which case the Partnership Parties Operator shall thereafter follow the instructions of ▇. ▇▇▇▇ (or such other agent as ▇. ▇▇▇▇ may appoint) with respect to all ▇. ▇▇▇▇ Materials Products that are transported, stored or handled by the Partnership Parties Operator pursuant to this Agreement. All volumes shipped throughput by ▇. ▇▇▇▇ will be taken into account in the determination of whether the Company has satisfied its Minimum Throughput Commitment.
Appears in 2 contracts
Sources: Terminalling Services Agreement (Delek Logistics Partners, LP), Terminalling Services Agreement (Delek Logistics Partners, LP)