Duncan Terminal definition

Duncan Terminal means Owner’s light Products distribution terminal located in Stephens County, Oklahoma, including all storage, loading and unloading facilities, all piping and other equipment within the tank berms, and other furniture, fixtures, equipment, and tangible personal property owned or used by Owner in the ownership, operation, and maintenance thereof and all future modifications or additions thereto.
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Duncan Terminal means the light products distribution terminal located in Stephens County, Oklahoma, owned and operated by the Sellers, including all storage tanks set forth on Schedule 1.1(c)(i), loading and unloading facilities, all piping and other equipment, and other furniture, fixtures, equipment, and tangible personal property owned or used by the Sellers in the ownership, operation, and maintenance thereof.
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Examples of Duncan Terminal in a sentence

  • Owner, as lessee, leases the land on which the Duncan Terminal is located (the “Leased Property”), which remains subject to a lease agreement, which lease agreement may be amended or revised from time to time (the “Lease”).

  • If for any reason the term of the Lease shall terminate prior to the expiration or termination of the Term, the provisions of this Agreement related to throughput and storage at the Duncan Terminal shall automatically terminate, and Owner shall not be liable to Customer by reason thereof unless said termination shall have been caused by the default of Owner under the Lease, and said Owner’s default was not as a result of a Customer default hereunder.

  • Customer may throughput volumes in excess of the Duncan Terminal Minimum Throughput Capacity, up to the then-available capacity of the Duncan Terminal, as determined by Owner at any time.

  • In the event that either (a) the Duncan Lease or, if such lease is no longer applicable with respect to the Duncan Terminal, the successor lease, is unable to be assigned to the Buyer on or before the Closing Date or (b) the Buyer reasonably determines that the terms of the Duncan Lease are unacceptable to the Buyer, then the Sellers or the Buyer shall have the right, exercisable by written notice to the other Parties prior to the Closing Date, to exclude the Duncan Terminal from the Transferred Assets.

  • For purposes of calculating the Shortfall Payment with respect to any Pipeline, all Actual Shipments on any other Pipeline (or on the Rail Racks, the Product Racks, or the Duncan Terminal, as applicable) for such Contract Quarter shall be disregarded.

  • Magellan Connector — pipelines that originate at the Duncan Terminal and connect to the Magellan Pipeline B-1 SCHEDULE C PRODUCTS Feedstocks: 1.

  • The claim is made primarily against the first defendant, Bank Frick, which is a Liechtenstein bank which received funds from NCB and accepted a pledge over those funds in circumstances which will appear.

  • If any Party exercises the right provided in the immediately preceding sentence, (i) the Purchase Price shall be reduced by $8,000,000, (ii) the term “Excluded Assets” shall be deemed to include the Duncan Terminal, (iii) no Consent with respect to the assignment of the Duncan Lease shall be required to be delivered at the Closing and (iv) the Storage and Throughput Agreement shall not include the Duncan Terminal or any fees and obligations related thereto.

  • During each Contract Quarter during the Term, Customer shall throughput at least the applicable Duncan Terminal Minimum Throughput Commitment at the Duncan Terminal and Owner shall make available to Customer throughput capacity at the Duncan Terminal at all times equal to the Duncan Terminal Minimum Throughput Capacity.

  • Allocation of throughput capacity for separate Materials at the Duncan Terminal shall be in accordance with current practices, or as otherwise may be mutually agreed among the Parties from time to time.

Related to Duncan Terminal

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