Natcos Facility definition
Examples of Natcos Facility in a sentence
The Independent Surveyors' Quantity Certificate setting out the final volume of Petroleum Product dispatched by the Host from the Natcos Facility for the benefit of the Guest shall be final and binding on the Parties, in the absence of manifest error.
As at the Signature Date, the only Line Flush Storage Facilities which are linked to the Natcos Facility are the IVT Facility and the facilities operated by the other coastal oil companies (it being recorded that the Natcos Facility cannot accommodate the Line Flush).
Access to the Natcos Facility is granted on a "first come, first serve" basis with no exclusivity, right of first refusal or any other similar right being afforded to the Guest in terms of this Agreement, except where such allocation would be in contravention of applicable laws or in contravention of national security.
The Parties agree that the Quantity Certificate setting out the final volume of Petroleum Product received at the Natcos Facility shall be final and binding on the Parties, in the absence of manifest error.
Ownership of Petroleum Product will be determined and recorded according to the type and quantity of Petroleum Product in question, and not necessarily by reference to a specific tank at the Natcos Facility.
The Guest shall be obliged to, and warrants to the Host that it will, do or procure the doing of all such things as may be required in order for the Guest's Petroleum Product to be despatched from the Natcos Facility in accordance with the applicable Despatch Plan.
Accordingly, Petroleum Product can only be moved out of the Natcos Facility by the Transnet Pipeline.
Accordingly, neither the Guest nor any third party which owns any Petroleum Product at the Natcos Facility can claim any ownership or other entitlement to the Petroleum Product (or any portion thereof) contained in a particular tank of Petroleum Product.