Central Receipt Point definition
Central Receipt Point or “CRP” means inlet flange of Carrier’s facilities at the receipt points located along its System for the purpose of receiving Crude Oil and equipped with (i) automated communication equipment to allow for remote monitoring and control of System pumps and a
Central Receipt Point or “CRPs” means inlet flange of Monarch’s facilities at the receipt points located along the Gathering System for the purpose of receiving Shipper’s Crude Oil, and any other points mutually agreed upon in the future at which Monarch will receive Shipper’s Crude Oil. Each CRP shall be equipped with (i) automated communication equipment to allow for remote monitoring and control of Gathering System pumps at each such location and (ii) a LACT Unit. The CRPs are described on Exhibit F.
Central Receipt Point or “CRP” means centralized points such as a multiple well pad drilling site, a centralized, multi-well tank battery location or a group of leases where production from multiple ▇▇▇▇▇ is aggregated and delivered to Gatherer.
Examples of Central Receipt Point in a sentence
BUYER must give SELLER thirty (30) Days written notice that BUYER has determined purchasing of the Gas made available by SELLER at the Central Receipt Point has become uneconomic and must advise SELLER of what action BUYER will take.
Removal of a Central Receipt Point constitutes a release of dedication of the then existing Well(s) behind that Central Receipt Point.
If at any time during the term of this Agreement BUYER’s purchasing of SELLER’s Gas from any Central Receipt Point becomes uneconomic, as determined in the sole discretion and judgment of BUYER, BUYER may (i) suspend receipt of Gas at that Central Receipt Point, (ii) terminate this Agreement or (iii) modify Exhibit “B” to remove that Central Receipt Point.