Volume Losses. (a) With respect only to the Anchorage, Boise, Xxxxxx, Stockton and Vancouver Terminals, TLO shall bear the risk of any actual volume losses of each Product to the extent that such losses exceed 0.25% of the volumes of such Product received at the Terminal, to be pro rated among all Terminal users, during any Month during the Term. Volumes and losses of each Product shall be determined and accounted for as of the end of each Month. To the extent that actual losses of any Product are less than 0.25% during any particular Month, Tesoro shall repurchase from TLO the difference between the actual loss and the 0.25% allowance at a price per barrel for that Product as reported by the Oil Price Information Service (“OPIS”) using the monthly average OPIS unbranded contract rack posting for that Product during the Month in which the volume difference was accounted for. All such sales shall be “AS IS”, “WHERE IS”, without any warranty, express or implied, including warranties of merchantability, fitness or title, all of which are expressly excluded. If volume losses of any Product exceed 0.25% during any particular Month, TLO shall pay Tesoro for the difference between the actual loss and the 0.25% allowance at a price per barrel for that Product as reported by OPIS using the monthly average OPIS unbranded contract rack posting for that Product during the Month in which the volume difference was accounted for. Deliveries on Saturday, Sunday or Federal holidays shall be excluded from the calculation for the applicable Month.
Volume Losses. TLO shall have no obligation to measure volume gains and losses and shall have no liability whatsoever for normal course physical losses that may result from the storage of the Products at the Tanks and the transportation of the Products through the Pipelines, except if such losses are caused by the gross negligence or willful misconduct of TLO, as further described in Section 18 herein. TRMC will bear any volume losses that may result from the storage or transportation of the Products at the Storage Facility and through the Pipelines, respectively.
Volume Losses. From the date hereof for a period of six (6) Months, the Parties agree to adopt the applicable measurement and volume loss control practices in effect as of the date hereof. The Parties agree to renegotiate the applicable measurement and volume loss control practices at the end of the six (6) Month period, with the intent for the tolerance percentage of volume loss to be at the industry standard.
Volume Losses. MPL shall have no obligation to measure volume gains and losses and shall have no liability whatsoever for physical Losses that may result from the storage of Crude Petroleum and Product at the Tank Farm. MPC will bear any volume Losses that may result from the storage of Crude Petroleum and Product at the Tank Farm.
Volume Losses. From the date hereof for a period of six (6) Months, the Parties agree to adopt the applicable measurement and volume loss control practices of BP Plc at the Terminals as of the date hereof. The Parties agree to renegotiate the applicable measurement and volume loss control practices at the end of the six (6) Month period.
Volume Losses. WRT shall bear the risk of loss for Products volumes throughput by WRT at a Product Terminal to the extent that such losses exceed 0.20% of the Products volumes throughput by WRT at such Product Terminal. Volumes and losses of Products volumes shall be determined and accounted for as of the end of each Month. If volume losses of any Products exceed 0.20% during any particular Month, WRT shall pay WNR for the difference between the actual loss and the 0.20% allowance at a price per barrel for crude oil equal to such Month’s calendar day average for NYMEX WTI less $8.00 per barrel and for all Products other than crude oil equal to the Oil Price Information Service Gulf Coast monthly average for such Product.
Volume Losses. Except as set forth in the applicable Tariff, Carrier shall have no liability whatsoever to Shipper for any loss of, damage to or downgrading of Shipper’s Product, unless and to the extent such loss or damage results from Carrier’s gross negligence or willful misconduct. In no event shall Carrier be liable for more than the replacement of lost or damaged Product or, at its option, payment of the replacement cost of any lost or damaged Product. Notwithstanding the foregoing, in the event the Pipeline becomes equipped to measure volume gains and losses through the installation of custody transfer meters and Carrier begins to accept third-party petroleum products or other commodities for transportation on the Pipeline, Carrier shall establish an appropriate loss allowance and allocate gains and losses among Shipper and the third-party customers in accordance with standard industry practices.
Volume Losses. Company shall have no liability whatsoever to Customer for any loss of, damage to or downgrading of Customer’s Product, unless and to the extent such loss or damage results from Company’s gross negligence or willful misconduct. In no event shall Company be liable for more than the replacement of lost or damaged Product or, at its option, payment of the replacement cost of any lost or damaged Product. Notwithstanding the foregoing, in the event the Terminal becomes equipped to measure volume gains and losses through the installation of custody transfer meters and Company begins to accept third-party Products for storage and handling at and redelivery from the Terminal, Company shall establish an appropriate loss allowance and allocate gains and losses among Customer and the third party customers in accordance with standard industry practices.
Volume Losses. Delek-Big Xxxxx shall use commercially reasonable efforts to minimize volume losses of Product at the Terminal. Title to the Products tendered by or on behalf of Delek Refining for terminalling or storage hereunder will remain with Delek Refining at all times. Delek Refining shall, during each month, (i) be entitled to all volumetric gains in the Terminal and (ii) be responsible for all volumetric losses in the Terminal up to a maximum of 0.25%. If volume losses of any Product exceed 0.25% during any particular month, Delek-Big Xxxxx shall pay Delek Refining for the difference between the actual loss and the 0.25% allowance at a price per barrel for that Product as reported by the Oil Price Information Service (“OPIS”) using the monthly average OPIS unbranded contract rack posting for that Product during the month in which the volume difference was accounted for.
Volume Losses. Operator shall have no obligation to measure volume gains or losses of Products in the normal course of transportation, and shall have no liability to Customer for physical losses of Products, except for losses resulting from gross negligence, willful misconduct or breach of this Agreement by Operator or its employees, agents or contractors. Following the Commencement Date, the Parties agree to negotiate in good faith to incorporate appropriate market volume loss provisions.
