Ex Tank definition
Ex Tank means the delivery of Product by Seller to Buyer in bulk from the storage tank designated by Seller.
Ex Tank means the delivery of the Special Product by the Seller to the Buyer in bulk from the storage tank identified by the Seller in the relevant Sales Confirmation.
Ex Tank means the delivery of crude oil by the Seller to the Buyer in bulk from the storage tank designated by the Seller.
More Definitions of Ex Tank
Ex Tank means the delivery of the Product by Seller to Buyer in bulk from the storage tank designated by Seller by an appropriate transport, such as rail tank car. Ex-Tank and Incoterms shall be collectively referred as “Delivery Term.” For Ex-Tank deliveries, the risk of loss and title to the Products shall pass to Buyer as the Product passes the outlet flange of Seller’s storage tank from which the Product is being delivered. For other method of deliveries under the Incoterms, the risk of loss and title to the Products shall pass to Buyer where the risk of loss pass under the applicable Incoterms of each Order. Buyer hereby grants Seller a security interest in all Products purchased hereunder and the proceeds therefrom to secure Buyer’s payment obligations under the Contract. ▇▇▇▇▇ acknowledges that the security interest granted herein is a purchase money security interest under the law of the State of Texas or any other jurisdiction. At Seller’s option, Seller may file a financing statement for such security interest and Buyer shall execute any such statements or other documentation necessary to perfect Seller’s security interest in such Products.