Common use of Product Storage Clause in Contracts

Product Storage. For and in consideration of the rates and fees to be paid by Suburban to Plains as provided herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Plains hereby agrees to lease storage space at its underground storage facility situated in ▇▇▇▇▇▇, South Carolina, for the storage of up to the applicable Lease Volume. Upon the Closing of the Transaction, Plains represents and warrants that it has full right, power and authority to extend and deliver the storage services described in this Agreement. Each of the parties hereto represents and warrants that it has full power and authority to make, enter into and perform its obligations under this Agreement.