Seller will design, construct, pay for and own both the Production Facility and the Storage Facility. The land rights for the Production Facility and Storage Facility will be purchased and owned by Seller [......]. Notwithstanding the foregoing, after repayment in full of all of the Advance, Seller may sell and lease back the Production Facility, the Storage Facility and the land rights for the Production Facility and Storage Facility. The specifications of the Production Facility and the Storage Facility are set forth in Appendix 7 and Appendix 8, respectively. Each of the Production Facility and the Storage Facility will be the exclusive property of Seller and, provided that Seller complies with Section 1(e) and 10(b), may be used by Seller for the manufacture and storage of other goods. If the capacity of the Storage Facility becomes inadequate, Seller will have no obligation to increase such capacity beyond the Storage Facility specifications detailed in Appendix 8 attached hereto.
Seller shall operate a storage facility located in Santa Teresa, New Mexico (the Storage Yard), with a maximum storage capacity of [ ] Components.
Storage and Transportation Activities shall mean the compression, transportation, storage, or transmission of natural gas, including constructing, owning, maintaining, and operating gathering systems, pipelines, storage facilities and other assets related thereto.
Seller shall deliver the finished Components to the Storage Yard in shipping fixtures provided by Buyer that are capable of appropriately transporting the Components from the Production Facility to the Storage Yard. Buyer shall provide shipping fixtures to the Storage Yard. Seller shall be responsible for transfer of the shipping fixtures to the Production Facility for the loading and transportation of the blades to the Storage Yard. Seller shall be responsible for the proper care of the shipping fixtures, and all unloading of trailers at the Storage Yard. All damages or losses at the Storage Yard, including without limitation, the Components shall be borne by Seller, and Seller shall be responsible for insuring against risk of loss or damage at the Storage Yard.. The parties understand that Seller shall have no obligation to provide any storage of finished Components at the Production Facility.
“Initial Gas Storage Year” means the Gas Storage Year commencing the April 1 immediately preceding the Closing Date.
Are underground storage tanks (USTs), aboveground storage tanks (ASTs), or associated pipelines used for the storage of petroleum products, chemicals, or liquid wastes present on site (lease renewals) or required for planned operations (new tenants)? Yes ☐ No☐
“SST II” means SmartStop Self Storage REIT, Inc. (formerly known as Strategic Storage Trust II, Inc.), a Maryland corporation.
Initial Contributed Entities means # Stagecoach Pipeline & Storage Company, LLC, a New York limited liability company, # Arlington Storage Company, LLC, a Delaware limited liability company, # Crestwood Gas Marketing LLC, a Delaware limited liability company, and # Crestwood Storage Inc., a Delaware corporation.
On or prior to the Substitute Storage Space Commencement Date, Tenant shall deliver to Landlord possession of the Storage Space vacant and broom clean, free of all occupancies and encumbrances and otherwise in accordance with the terms, covenants and conditions of the Lease as if the Substitute Storage Space Commencement Date were the Expiration Date. Landlord acknowledges that Landlord has inspected the Storage Space and is fully familiar with the condition thereof and agrees to accept the surrender thereof at the Substitute Storage Space Commencement Date in its then as-is condition.
Annual Volume and Additional Supply delivered to Groundwater Storage shall be subject to the Groundwater Storage and Recovery Payments described in Section 7.3 and one time Unit Volume Payments. The delivery of Tejon Water from Groundwater Storage to Pastoria shall not be subject to any additional Unit Volume Payments.
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