Working Stock definition

Working Stock means the volume of Crude Petroleum required by the Carrier, at initiating locations where the Carrier owns tankage, to float tank roofs to working levels and to maintain that level and for terminal piping.

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Working Stock means the volume of Light Condensate required by Carrier as linefill for its pipeline, pump stations and terminals for operational and scheduling purposes, as specified from time to time by Carrier.

Working Stock means the volume of Petroleum required to be held by Carrier within the Pipeline System for operational and scheduling purposes as determined by and specified from time to time by Carrier.

Examples of Working Stock in a sentence

As a condition precedent to accepting Tenders for any Crude Petroleum hereunder, ▇▇▇▇▇▇ may require that any Shipper Tendering Crude Petroleum to the ▇▇▇▇▇▇ Facilities provide at no cost to ▇▇▇▇▇▇ a pro rata share of the Working Stock.
For each stream, Shippers may be allowed a tolerance margin on their required pro rata share of Working Stock equal to 1% of the average of a Shipper’s total Tenders to the ▇▇▇▇▇▇ Facilities and such Shipper’s total deliveries to a Delivery Point, but excluding all intraterminal transfers, for such month.
Interterminal transfers of Crude Petroleum involving the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Terminal may be allowed at ▇▇▇▇▇▇’▇ discretion; provided that, Shipper will be responsible for the payment of all charges (including but not limited to equalization adjustments, shrinkage of volumes, Diluent allocation, corrections, adjustments and deductions), provision of Working Stock, indemnities and other obligations in respect of the Crude Petroleum while in the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Terminal.
If Crude Petroleum is Tendered to the ▇▇▇▇▇▇ Facilities in amounts beyond the available capacity of the ▇▇▇▇▇▇ Facilities or applicable immediately downstream pipeline, terminal or other facility or in amounts which would lead to an accumulation of excessive Working Stock, ▇▇▇▇▇▇ may suspend or apportion acceptance of Crude Petroleum while such conditions exist without any claim for damages against ▇▇▇▇▇▇.
Unless otherwise precluded by Applicable Law and subject to operational constraints, Carrier shall return to Shipper substantially all of Shipper’s Working Stock or in-transit batches of Petroleum within a commercially reasonable period of time following the expiration or termination of this Agreement, which Petroleum shall be of substantially the same type and quality as that which was delivered to Carrier.

More Definitions of Working Stock

Working Stock means the volume of Crude Petroleum required by Carrier for the efficient operation of the Pipeline.

Working Stock means the volume of Crude Petroleum required by the Carrier as linefill for operational and scheduling purposes as specified from time to time by the Carrier.

Working Stock means the volume and grade of product required by Carrier for pipeline line fill and, at an Origin Point, locations along the Pipeline, or at the Destination Point where Carrier owns tankage, to float tank roofs to working levels and to maintain such levels and for terminal piping.

Working Stock means the volume of Petroleum required by Carrier for efficient operations and scheduling purposes as specified from time to time by Carrier, subject to relevant provisions of any TSAs, and includes line fill and tank bottoms.

Working Stock means the volume of Crude Oil required by Carrier for operational and scheduling purposes as determined and specified by Carrier from time to time.

Working Stock means the volume of petroleum required by the Carrier at initiating locations and as linefill for operational and scheduling purposes as specified from time to time by the Carrier.

Working Stock means the Crude Petroleum and Diluent volumes required, as determined from time to time by Gibson, to: i) fill the piping associated with the Gibson Facilities; and ii) provide the inventory for operating and scheduling purposes in the tanks associated with the Gibson Facilities.