Common use of Reimbursement of Operating Expenses Clause in Contracts

Reimbursement of Operating Expenses. (i) At the end of the first four (4) complete Contract Quarters following the Closing Date, El Dorado Logistics shall calculate the aggregate operating expenses incurred in the operation of the El Dorado Assets during that twelve-month period (but such calculation shall not include extraordinary and non-recurring items of expense that are not reasonably expected to recur in future periods during the Term). In the event that such aggregate operating expenses exceed the Assumed OPEX, (A) Frontier El Dorado shall reimburse El Dorado Logistics for such operating expenses incurred in excess of the Assumed OPEX, and (B) El Dorado Logistics shall increase the Tankage Base Tariff by the amount necessary to increase the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed portion of such aggregate operating expenses in excess of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Logistics shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.

Reimbursement of Operating Expenses. (i) At the end of the first four complete (4) complete Contract Quarters following the Closing Date, El Dorado Cheyenne Logistics shall calculate the aggregate operating expenses incurred in the operation of the El Dorado Cheyenne Assets during that twelve-month period (but such calculation shall not include extraordinary and non-recurring items of expense that are not reasonably expected to recur in future periods during the Term). In the event that such aggregate operating expenses exceed the Assumed OPEX, (A) Frontier El Dorado Cheyenne shall reimburse El Dorado Cheyenne Logistics for such operating expenses incurred in excess of the Assumed OPEX, and (B) El Dorado Cheyenne Logistics shall increase the Tankage Base Tariff by the amount necessary to increase the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed portion of such aggregate operating expenses in excess of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Cheyenne Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Cheyenne Logistics shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.

Reimbursement of Operating Expenses. (i) At the end of the first four (4) complete Contract Quarters following the Closing Date, El Dorado Logistics HEP Lovington shall calculate the its aggregate operating expenses incurred in the operation of the El Dorado Assets during that twelve-month period Loading Rack (but such calculation shall not include extraordinary and non-recurring items of expense that are not reasonably expected to recur in future periods during the Term). In the event that such aggregate operating expenses exceed the Assumed OPEX, (Ai) Frontier El Dorado Navajo shall reimburse El Dorado Logistics HEP Lovington for such operating expenses incurred in excess of the Assumed OPEX, and (Bii) El Dorado Logistics HEP Lovington shall increase the Tankage Base Loading Rack Tariff by the amount necessary to increase the Minimum Tankage Loading Rack Revenue Commitment by an amount equal to the unreimbursed portion of such aggregate operating expenses in excess of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics HEP Lovington shall decrease the Tankage Base Loading Rack Tariff by the amount necessary to decrease the Minimum Tankage Loading Rack Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Logistics HEP Lovington shall increase the Tankage Base Loading Rack Tariff by an additional amount necessary to increase the Minimum Tankage Loading Rack Revenue Commitment by the OPEX Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV II reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.

Reimbursement of Operating Expenses. (i) At the end of the first four (4) complete Contract Quarters following the Closing Date, El Dorado Logistics shall calculate the aggregate operating expenses incurred in the operation of the El Dorado Assets during that twelve-month period (but such calculation shall not include extraordinary and non-recurring items of expense that are not reasonably expected to recur in future periods during the Term). In the event that such aggregate operating expenses exceed the Assumed OPEX, (A) Frontier El Dorado shall reimburse El Dorado Logistics for such operating expenses incurred in excess of the Assumed OPEX, and (B) El Dorado Logistics shall increase the Tankage Base Tariff by the amount necessary to increase the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed portion of such aggregate operating expenses in excess of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an SECOND AMENDED AND RESTATED PIPELINE DELIVERY, TANKAGE AND LOADING RACK THROUGHPUT AGREEMENT (EL DORADO) amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Logistics shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX. No operating expenses related solely to the New Tank shall be considered when calculating the OPEX Recovery Amount.

Reimbursement of Operating Expenses. (i) At the end of the first four complete (4) complete Contract Quarters following the Closing Date, El Dorado Cheyenne Logistics shall calculate the aggregate operating expenses incurred in the operation of the El Dorado Cheyenne Assets during that twelve-month period (but such calculation shall not include extraordinary and non-recurring items of expense that are not reasonably expected to recur in future periods during the Term). In the event that such aggregate operating expenses exceed the Assumed OPEX, (A) Frontier El Dorado Cheyenne shall reimburse El Dorado Cheyenne Logistics for such operating expenses incurred in excess of the Assumed OPEX, and (B) El Dorado Cheyenne Logistics shall increase the Tankage Base Tariff by the amount necessary to increase the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed portion of such aggregate operating expenses in excess Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne) of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Cheyenne Logistics shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Cheyenne Logistics shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.

Reimbursement of Operating Expenses. (i) At the end of the first four (4) complete Contract Quarters following the Closing DateQuarters, El Dorado Logistics HEP Tulsa shall calculate the its aggregate operating expenses incurred in the operation of the El Dorado Assets during that twelve-month period (but such calculation shall not include extraordinary Pipelines, Tankage and non-recurring items of expense that are not reasonably expected Loading Racks pursuant to recur in future periods during the Term)this Agreement. In the event that such aggregate operating expenses exceed the Assumed OPEX, (Ai) Frontier El Dorado Xxxxx Tulsa shall reimburse El Dorado Logistics HEP Tulsa for such operating expenses incurred in excess of the Assumed OPEX, and (Bii) El Dorado Logistics HEP Tulsa shall increase the Tankage Base Tariff by the amount necessary to increase the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed portion of such aggregate operating expenses in excess of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II IV reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics HEP Tulsa shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II IV Pipelines, Tankage and Loading Rack Throughput Agreement (Tulsa East) reflecting such aggregate operating expenses as the new Assumed OPEX. In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, El Dorado Logistics HEP Tulsa shall increase the Tankage Base Tariff by an additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall execute an amended, modified, revised or updated Schedule IV reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.