Liquid trap means sumps, well cellars, and other traps used in association with oil and gas production, gathering, and extraction operations (including gas production plants), for the purpose of collecting oil, water, and other liquids. These liquid traps may temporarily collect liquids for subsequent disposition or reinjection into a production or pipeline stream, or may collect and separate liquids from a gas stream.
Liquid Assets mean Borrower's cash on hand plus Borrower's readily marketable securities.
Vapor tight means equipment that allows no loss of vapors. Compliance with vapor-tight requirements can be determined by checking to ensure that the concentration at a potential leak source is not equal to or greater than 100 percent of the lower explosive limit (LEL) when measured with a combustible gas detector, calibrated with propane, at a distance of 1 inch (2.54 cm) from the source.
Residual disinfectant concentration (“C” in CT cal- culations) means the concentration of disinfectant measured in mg/l in a representative sample of water.
In light liquid service means that the piece of equipment in VOC service either (1) contains a liquid that meets all of the conditions in definition A; or (2) meets the condition specified in definition B: