Identifiable Losses definition

Identifiable Losses. Means the losses of crude oil that can be located in a specific point of the pipeline and that are attributable to determined events, such as breakdowns, spillages, thefts or Justified Events.
View Source
Identifiable Losses as defined in Exhibit B hereto.
View Source
Identifiable Losses means the aggregate of Losses and Litigation Expenses.
View Source

Examples of Identifiable Losses in a sentence

  • The Non – Identifiable Losses are allocated proportionally to the Deliveries in the Initial Pumping Station or Plant of the current Calendar Month.

  • The withdrawals of Crude Oil may have a quality different from that of the deliveries and the quantities will take into account the Identifiable Losses, the Non – Identifiable Losses, the Line Fill and the variation of inventories.

  • The Identifiable Losses are allocated proportionally to the Deliveries in the Initial Pumping Station or Plant of the preceding Calendar Month.

  • Identifiable Losses will be calculated on a monthly basis by the Transported in a way that the monthly calculation reflects the real losses occurred during each Operation Month.

  • Two (2) types of losses are considered: Identifiable Losses and Non – Identifiable Losses, defined in the Second Clause “Definitions” of this Manual.

  • CENIT’S Transportation Systems consider three (3) possible loss points: ▪ Initial Pumping Station or Plant ▪ Pipeline ▪ Final Station or Terminal Identifiable Losses and Non – Identifiable Losses can occur in each point.

  • The Identifiable Losses and No – Identifiable Losses will be distributed among the Senders according to the provisions of Clause 20 of this Manual.

  • DC- Crude Oil Transportation Agreement - 009 - 2013 83 ▪ The Identifiable Losses are distributed as a proportion of the dispatches made from the Initial Pumping Station or Plant in the preceding Calendar Month.

  • In the event such Threshold is exceeded, then, Buyer shall be liable to indemnify Seller for all Indemnifiable Losses incurred by them for which Claims have been asserted prior to the expiration of the Survival Period applicable thereto, not only for Identifiable Losses in excess of the Threshold, but also for the first $50,000.00 of Identifiable Losses, subject to the Buyer Indemnification Ceiling provided for hereinafter.

  • In the event such Threshold is exceeded, then, Seller shall be liable to indemnify Buyer for all Indemnifiable Losses incurred by them for which Claims have been asserted prior to the expiration of the Survival Period applicable thereto, not only for Identifiable Losses in excess of the Threshold, but also for the first $50,000.00 of Identifiable Losses, subject to the Seller Indemnification Ceiling provided for hereinafter.


More Definitions of Identifiable Losses

Identifiable Losses. Loss of Products that can be traced to a specific point on the Polyduct and that can be attributed to specific events such as fractures, spills, force majeure or act of nature.
View Source