Inventory Hydrocarbons definition

Inventory Hydrocarbons means all merchantable oil and condensate produced from or attributable to the Leases prior to the Effective Time which have not been sold by Seller and are in storage at the Effective Time.
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Inventory Hydrocarbons means all merchantable oil and condensate (for oil or liquids in storage tanks, being only that oil or liquids physically above the top of the inlet connection into such tanks) produced from or attributable to the Leases prior to the Exercise Effective Time which have not been sold by Optionor and are in storage at the Exercise Effective Time.
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Inventory Hydrocarbons means all merchantable oil and condensate (for oil or liquids in storage tanks, being only that oil or liquids physically above the top of the inlet connection into such tanks) produced from or attributable to the Leases prior to the Effective Time which have not been sold by Seller and are in storage at the Effective Time.
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Examples of Inventory Hydrocarbons in a sentence

  • Notwithstanding the foregoing, in lieu of any adjustment to the Purchase Price for proceeds from the sale of Inventory Hydrocarbons, the Closing Statement and Final Closing Statement shall reflect an upward adjustment to the Purchase Price of Three Hundred Sixty Thousand Six Hundred Five Dollars ($360,605.00).

  • All proceeds from the sale of Hydrocarbons and other income attributable to the Oil and Gas Interests produced prior to the Effective Time (except for Inventory Hydrocarbons), net of all Taxes, royalties, overriding royalties, production payments, net profits obligations, rentals, shut-in payments and similar burdens, shall belong to Seller, and the Closing Statement and Final Closing Statement shall be adjusted appropriately to reflect the same.

  • Buyer shall pay Seller for the Inventory Hydrocarbons as an adjustment to the Purchase Price at Closing, as provided in Section 3.1(A)(ii).

  • The Inventory Hydrocarbons have been gauged and measured as of the Effective Time as set forth on Schedule 1.3A, which the Parties may update prior to Closing.

  • For the avoidance of doubt it is hereby declared that the carrying out of an examination under Section 6(3)(d) of the National Audit Xxx 0000 in relation to METRO or the Council is not a function exercisable under this Agreement.


More Definitions of Inventory Hydrocarbons

Inventory Hydrocarbons has the meaning assigned to it in Section 3.2(a)(ii).
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Inventory Hydrocarbons means, as of the Effective Time, the (a) Inventory Liquid Hydrocarbons, and (b) any other Hydrocarbons produced from the Oil and Gas Interests that are in tanks, pipelines, or vessels located upstream of the custody transfer meter or LACT meter, as appropriate for the subject Oil and Gas Interest.
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Inventory Hydrocarbons has the meaning set forth in Section 4.01(a)(i).
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Inventory Hydrocarbons is defined in Article 1
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Inventory Hydrocarbons means, as of the Effective Date, the merchantable Hydrocarbons produced from the Oil and Gas Properties that are then in pipelines, tanks, or vessels above the pipeline sales connection.
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Inventory Hydrocarbons means all merchantable minerals produced from or attributable to the Assets prior to the Effective Time which have not been sold by Seller or the operator of the Assets involved therein and are in storage at the Effective Time.
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Related to Inventory Hydrocarbons

  • Hydrocarbons means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom.

  • Total hydrocarbons (THC) means the sum of all volatile compounds measurable by a flame ionization detector (FID).

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Hydrocarbon means a compound consisting of hydrogen and carbon, which, when naturally occurring, may also contain other elements such as sulphur;

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • Oil means petroleum in any form including crude oil, fuel oil, sludge, oil refuse and refined products (other than petrochemicals which are subject to the provisions of Annex II of the present Convention) and, without limiting the generality of the foregoing, includes the substances listed in Appendix I to this Annex.

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • plant products means products of plant origin, unprocessed or having undergone simple preparation in so far as these are not plants, set out in Annex IV-A, Part 3 to this Agreement;

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Transferred Inventory shall have the meaning set forth in Section 1.1(c).

  • concentrates means flavoring ingredients and, depending on the product, sweeteners used to prepare syrups or finished beverages;

  • Condensate means hydrocarbon liquid separated from natural gas which condenses due to changes in the temperature or pressure and remains liquid at standard conditions.

  • Excluded Inventory shall have the meaning set forth in Section 2.1(c).

  • Petroleum Substances means petroleum, natural gas, natural gas liquids, related hydrocarbons and any and all other substances, whether liquid, solid or gaseous, whether hydrocarbons or not, produced or producible in association with any of the foregoing.

  • Bulk gasoline plant means a gasoline storage and distribution facility with an average daily throughput of 20,000 gallons (76,000 liters) of gasoline or less on a 30-day rolling average.

  • Obsolete Inventory means items that have expired, are redundant or

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Raw Materials means all raw materials, supplies, components and packaging necessary to manufacture and ship the Product in accordance with the Specifications, as provided in Exhibit A, but not including the API.

  • Concentrate means the product of a process of extraction of metal or a metallic mineral from mineral ore that results in substantial enrichment of the metal or metallic mineral concerned;

  • Inventory Value means with respect to any Inventory of a Loan Party at the time of any determination thereof, the standard cost determined on a first in first out basis and carried on the general ledger or inventory system of such Loan Party stated on a basis consistent with its current and historical accounting practices, in Dollars, determined in accordance with the standard cost method of accounting less, without duplication, (i) any markup on Inventory from an Affiliate and (ii) in the event variances under the standard cost method are expensed, a Reserve reasonably determined by the Agent as appropriate in order to adjust the standard cost of Eligible Inventory to approximate actual cost.

  • Imbalances means over-production or under-production or over-delivery or under-delivery with respect to Hydrocarbons produced from the Properties, regardless of whether the same arise at the wellhead, pipeline, gathering system, transportation system, processing plant, or any other location, including any imbalances under gas balancing or similar agreements, production handling agreements, processing agreements, and/or gathering or transportation agreements.

  • Raw material means any unprocessed material in its raw or natural state that is intended to become part of the components of a cannabis product.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Imbalance means the difference between Deliveries to KUB for a Customer and Redeliveries by KUB to the Customer.