Exxon Guam Terminal definition

Exxon Guam Terminal means all of Exxon’s assets relating to its petroleum storage and distribution terminal in the Territory of Guam, including all assets, tangible and intangible, that are used to operate the terminal for the storage and distribution of petroleum products, including, but not limited to, all real estate, storage tanks, loading and unloading facilities, licenses, permits and contracts pertaining to the terminal facilities, offices, buildings, warehouses, equipment, machinery, fixtures, tools, spare parts, and all other property used in Terminaling; the non-exclusive right to use all patents, know-how, and other intellectual property used by Exxon in the operation of the terminal; and the rights of Exxon in any agreement with Shell Guam, Inc., relating to terminaling in Guam; provided, however, that “Exxon Guam Terminal” shall include, at the option of the acquirer, those assets used by Exxon to operate its LPG business. “Exxon Guam Terminal” does not include Exxon’s proprietary trade names and trademarks or, except as provided above, patents, know-how, and other intellectual property. In the event that Respondents are unable to satisfy all conditions necessary to divest any intangible asset, Respondents shall: (1) with respect to permits, licenses or other rights granted by governmental authorities (other than patents), provide such assistance as the acquirer may reasonably request in the acquirer’s efforts to obtain comparable permits, licenses or rights, and (2) with respect to other intangible assets (including patents), substitute equivalent assets, subject to Commission approval. A substituted asset will not be deemed to be equivalent unless it enables the terminal to perform the same function at the same or less cost.
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Related to Exxon Guam Terminal

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