Refinery Procured Renewable Product Barrels Sample Clauses

Refinery Procured Renewable Product Barrels. No later than the fifteenth (15th) day of the month preceding a Delivery Month, the Company shall inform Macquarie whether the Company has purchased or intends to purchase any Renewable Product that is being procured under a Refinery Renewable Product Contract for delivery during such Delivery Month (“Refinery Procured Renewable Product Barrels”). In connection with each such quantity of Refinery Procured Renewable Product Barrels, the Company shall provide to Macquarie a trade ticket stating the quantity, grade and delivery terms of such Refinery Procured Renewable Product Barrels expected to be delivered to the Refinery Renewable Product Storage Tanks or such other Included Renewable Product Location designated by the Company during such Delivery Month and, provided no Default or Event of Default with respect to the Company has occurred and is then continuing, such quantity satisfies the approved grade, and such quantity does not exceed the maximum inventory level for such Renewable Products set forth on Schedule D, Macquarie shall purchase such quantity from the Company on a “FOB” destination basis at Current Month Pricing Benchmark(s), subject to the calculation of the Monthly True-Up Amounts as provided for on Schedule C-2, and title and risk of loss for such quantity shall pass to Macquarie as and when it passes the Renewable Product Intake Point free and clear of all Liens. If any change occurs in the quantity, grade or delivery terms of the Refinery Procured Renewable Product Barrels that the Company expects to procure for delivery during such month, the Company shall promptly advise Macquarie of such change. The Parties acknowledge that the consideration due from Macquarie to the Company for any Refinery Procured Renewable Product Barrels shall be paid for in accordance with Article 10. 8.2
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