API 653 Tank definition
API 653 Tank means (a) each of the tanks listed on Schedule X to this Agreement and (b) any other tank included in the Tankage (as defined in the applicable Transaction Agreement referenced on Schedule IX to this Agreement) that is required to undergo an API 653 inspection within five years after the applicable Closing Date as a result of a failure of such tank.
API 653 Tank means (a) each of the tanks listed on Schedule 1.1(a) and (b) any other tank included in the Transferred Assets that is required, as a result of a failure of such tank, to undergo an API 653 inspection within seven years after the Effective Time.