Common use of STORAGE CHARGE Clause in Contracts

STORAGE CHARGE. West Central will make available tanks for storing the Oil generated from the West Central Facility for delivery to REG’s Facility. So long as the inventory of Oil in such tanks (“Oil Inventory”) on the last business day of a calendar month is less than 3.75 million pounds, no storage charge will be assessed to REG for West Central’s storage. Unless waived by West Central, in the event the Oil Inventory on the last business day of a calendar month exceeds 3.75 million pounds, then REG agrees to pay to West Central a storage charge equal to one (1) month’s interest at an annual rate equal to the prime rate (as reported on the last business day of such month by the Wall Street Journal ) on the product of the Chicago Board of Trade “(CBOT”) futures price for crude soy oil on such inventory date plus the then applicable Provision Fee, multiplied by the number of pounds of Oil Inventory in excess of 3.75 million.

STORAGE CHARGE. West Central will make available tanks for storing the Oil generated from the West Central Facility for delivery to REG’s Facility. So long as the inventory of Oil in such tanks (“Oil Inventory”) on the last business day of a calendar month is less than 3.75 million pounds, no storage charge will be assessed to REG for West Central’s storage. Unless waived by West Central, in the event the Oil Inventory on the last business day of a calendar month exceeds 3.75 million pounds, then REG agrees to pay to West Central a storage charge equal to one (1) month’s interest at an annual rate equal to the prime rate (as reported on the last business day of such month by the Wall Street Journal Journal) on the product of the Chicago Board of Trade “(CBOT”) futures price for crude soy oil on such inventory date plus the then applicable Provision Fee, multiplied by the number of pounds of Oil Inventory in excess of 3.75 million.