LCO2 definition
Examples of LCO2 in a sentence
If Buyer does not so give the Increase Notice to Seller during the Buyer Exclusive Period, and Seller thereafter desires to sell Carbon Dioxide Gas, LCO2, or Dry Ice from Seller’s Facility to any person or entity, other than Buyer, prior to selling to such other person or entity, Seller shall notify Buyer thereof and of the amount offered and the purchase price therefor (“Offered Price”).
The quantity of Carbon Dioxide Gas used by Buyer to manufacture LCO2 and shipped by truck or into a tank equipped with load cells shall be determined by Buyer by weighing the LCO2 produced from such Carbon Dioxide Gas on State of Georgia certified scales.
Beginning with the month that follows the Purchase Commencement Date, Seller shall invoice Buyer monthly for the number of Tons of Carbon Dioxide Gas, as measured in accordance with Section 10, which was provided to Buyer’s Plant through the Carbon Dioxide Gas Pipeline and which was converted into LCO2 and shipped from Buyer’s Plant, during the month preceding the invoice date.
Following Buyer giving the Increase Notice to Seller and continuing through the Term, (i) the Minimum Volume for the remainder of the Term shall be seven hundred fifty (750) Tons per Day of Carbon Dioxide Gas, (ii) Seller shall not sell Carbon Dioxide Gas, LCO2, or Dry Ice from Seller’s Facility to any person or entity, other than Buyer, and (iii) the Minimum Take shall be increased to one hundred forty thousand (140,000) Tons of Carbon Dioxide Gas per Contract Year.
This Heel Adjustment reflects the amount of LCO2 that remains in the tank of the railcar and cannot be pumped off.
Seller shall obtain all permits which are required by applicable laws, ordinances, rules, and regulations regarding emissions resulting from the production of Carbon Dioxide Gas and LCO2 at Seller’s Facility and Buyer’s Plant.
The quantity of Carbon Dioxide Gas used by Buyer to manufacture LCO2 and shipped by tank railcars shall be determined by using the designated standard volume of liquid product containment capacity of the railcar, as designated by the railcar manufacturer, when filled to the ninety-five percent (95%) try cock designation less a heel adjustment factor of three and four tenths percent (3.4%) (“Heel Adjustment”).
At the end of the first Contract Year, and at the end of each succeeding Contract Year, the price per Ton of Carbon Dioxide Gas shall be adjusted by the actual percentage change in Buyer’s selling price of LCO2 to all of Buyer’s customers in the Pricing Region, excluding sales to Buyer and Buyer’s affiliates, sales where customers pick up LCO2 at one of Seller’s locations, F.O.B. customers, and sales made in connection with rail shipment.
Through this MoU, POSCO will develop new steel materials and relevant technology for storage tanks, which are core technologies for large size LCO2 carriers.
If, within thirty (30) days of Buyer’s receipt of such notice, Buyer notifies Seller that Buyer would like to purchase all or a portion of any such Carbon Dioxide Gas, LCO2, or Dry Ice, Seller shall sell the same to Buyer at the Offered Price and, other than the price for such additional Carbon Dioxide Gas, LCO2, or Dry Ice, all terms of this Agreement shall apply to such purchase.