Common use of Initial Inventory Clause in Contracts

Initial Inventory. (a) The “Initial Inventory” consists of the Feedstock and Products Inventory which are purchased on Buyer’s behalf from Valero pursuant to the ISA that are identified as “Crude Oil” and “Feedstocks” on Part II to Exhibit A of the ISA, including Tank Heels and the Hess VGO, but excludes any “Crude Oil” or “Feedstocks” located (i) in the Hess VGO Terminal - Baltimore or (ii) downstream of the outlet flange of the Storage Facilities. The Initial Inventory specifically excludes the hydrocarbon products identified as “Distillate,” “Gasoline,” “Intermediates,” “LPGS,” “Lube Plant,” “Residual” and “Other” on Part II to Exhibit A of the ISA.