Inactive Systems Sample Clauses
The 'Inactive Systems' clause defines the treatment and management of systems or components that are not currently operational or in use within a contractual relationship. Typically, this clause outlines the responsibilities for maintaining, decommissioning, or reactivating such systems, and may specify notification requirements or timelines for addressing inactivity. Its core practical function is to ensure clarity regarding the status and handling of inactive systems, thereby preventing disputes or misunderstandings about maintenance obligations, liability, or future use.
Inactive Systems. Meter readings shall be obtained on all inactive metered systems (tank truck rack, rail car rack and pipeline) in advance of the Hydrocarbon Inventory Transfer Times. The IIC will secure these systems by sealing same and/or inserting meter tickets in these meters to ensure that no Product is moved through these systems during the physical inventory process. The last tickets used to record Product sales, incoming receipts, Product shipments and other Product movements will be photocopied and retained by ▇▇▇▇, PRC and the IIC.
Inactive Systems. Meter readings shall be obtained on all inactive metered systems (tank truck rack, rail car rack and pipeline) in advance of the Inventory Transfer Time. The Petroleum Inspection Company will secure these systems by sealing the same and inserting meter tickets in these meters to ensure that no Product is moved through these systems during the physical inventory process and the Petroleum Inspection Company report will clearly identify the date and time. The last tickets used to record Product sales, incoming receipts, Product shipments, and other Product movements will be legibly photocopied and retained by Buyer, Seller, and the Petroleum Inspection Company.
Inactive Systems. Meter readings shall be obtained on all inactive metered systems (tank truck rack and rail car rack) in advance of the Inventory Transfer Time. The Inspection Company will secure these systems by sealing same to ensure that no liquid Products are moved through these systems during the physical inventory process. The non-resetable total amount of product movements as indicated from the flow computers will be provided to and retained by Buyer, Seller and the Inspection Company.