residuum definition
residuum means the fraction of bitumen that remains after the light ends have been distilled;
residuum means the colloidal material separated from lighter Used Oil fractions through the processing of Used Oil by a Unit. The bottoms recovered from the further processing of First Phase Material may be combined with (and thus become part of) the Residuum.
residuum means the colloidal material separated from lighter Used Oil fractions through the processing of Used Oil by the Unit. The bottoms recovered from the further processing of First Phase Material may be combined with (and thus become part of) the Residuum. (b) "First Phase Material" shall mean the hydrocarbon material other than Residuum which results from the solvent extraction processing of Used Oil through the use of the Unit. (c) "Base Oil" shall mean the base oil recovered by the Unit from Used Oil. Base Oil is derived from the distillation of First Phase Material. Such distillation process can segregate the Base Oil from the Gasoline and Diesel fractions and the bottoms. (d) "Diesel" shall mean the fraction commonly referred to as diesel that is recovered by the Unit from Used Oil. Diesel can be derived from the distillation of First Phase Material. (e) "Gasoline" shall mean the fraction commonly referred to as gasoline that is recovered by the Unit from Used Oil. Gasoline can be derived from the flashing of First Phase Material. (f) "Finished Products" shall mean all commercially marketable products produced as a result of processing Used Oil by any process, equipment or apparatus of the Unit. Finished Products include, but are not necessarily limited to, First Phase Material, Diesel, Gasoline, Base Oil, and Residuum. Finished Products other than First Phase Material, Diesel, Gasoline, Base Oil, and Residuum, are sometimes referred to in this Agreement as "other Finished Products."