ANNUAL VOLUME SHORTFALL Sample Clauses

ANNUAL VOLUME SHORTFALL. At the end of each Fiscal Quarter of a Contract Year in respect of which a Production Notice or a Revision Notice indicates that the volume of Chips produced from a Minimum Volume Facility that TimberWest will deliver to FCCL under this Agreement in such Contract Year will be less than the applicable Minimum Annual Volume (taking into account Section 4.11) for such Contract Year, or at the end of any other Fiscal Quarter in which: (a) TimberWest fails to meet its production estimates for Chips in respect of the applicable Minimum Volume Facility set out in the most recent Production or Revision Notice; and (b) on the basis of TimberWest meeting its estimates of production for the remainder of the Contract Year as set out in such Notice, TimberWest will deliver to FCCL less than the applicable Minimum Annual Volume for such Contract Year, TimberWest will, within 20 Business Days after the end of such Fiscal Quarter deliver to FCCL either: (c) a notice (a "Shortfall Notice") confirming that TimberWest reasonably anticipates that TimberWest will deliver to FCCL less than such Minimum Annual Volume for such Contract Year and confirming the extent of the anticipated volume shortfall (the "Volume Shortfall") for such Contract Year and including, at TimberWest's option, a statement as to how TimberWest proposes to make up such Volume Shortfall, including any source from which, and price at which, Chips meeting the conditions described in Subsection 4.4(b) are available for outright purchase by FCCL; or (d) a notice (a "Make-Up Notice") confirming that TimberWest reasonably anticipates that a Volume Shortfall will not arise in respect of such Contract Year, failing which, TimberWest will be deemed to have delivered a Shortfall Notice and the extent of the Volume Shortfall will be determined by applying the estimates described in Subsection 4.2(b).
Sample 1
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ANNUAL VOLUME SHORTFALL. At the end of each Fiscal Quarter of a Contract Year in respect of which a Production Notice or a Revision Notice indicates that the volume of Chips that Riverside will deliver to Crown under this Agreement in such Contract Year will be less than the Minimum Annual Volume for such Contract Year, or at the end of any other Fiscal Quarter in which
Sample 1

Related to ANNUAL VOLUME SHORTFALL

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Minimum Interest Charge If the interest charge for all balances on your Credit Card account is less than $1.00, we will charge you the Minimum Interest Charge shown on page 1. This charge is in lieu of any interest charge.

  • Annual Payment During each calendar year, an employee may choose to receive payment for up to twenty (20) hours of accrued vacation leave or compensatory time. Request for payment may be made in November or December of each year. Such payment shall be made during the month of November or December and will be granted only if the employee has taken at least forty (40) hours of vacation/compensatory time during the calendar year. Such payment shall be at the base hourly rate only, no add-ons.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Over-Allowance Amount On the Cost Proposal Delivery Date and, in any event, prior to the commencement of the construction of the Tenant Improvements, Tenant shall deliver to Landlord cash in an amount (the “Over-Allowance Amount”) equal to the difference between (i) the amount of the Cost Proposal and (ii) the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the Cost Proposal Delivery Date). The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. If, after the Cost Proposal Date, any revisions, changes, or substitutions shall be made to the Construction Drawings or the Tenant Improvements as a result of requests made by Tenant or as otherwise specified in Section 5.01(h) below, any additional costs which arise in connection with such revisions, changes or substitutions shall be paid by Tenant to Landlord immediately upon Landlord’s request as an addition to the Over-Allowance Amount and, in any event, prior to the commencement of the construction of the revisions, changes or substitutions. Promptly following completion of construction of the Tenant Improvements and payment of all costs incurred in connection therewith, Landlord shall prepare and deliver to Tenant a reasonably detailed reconciliation of (i) the total cost of the Tenant Improvements, including all Tenant Improvement Allowance Items, and (ii) the total amount of the Tenant Improvement Allowance and the Over-Allowance Amount payments previously made by Tenant pursuant to the foregoing provisions of this Section. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements exceeds the amount of the Tenant Improvement Allowance plus all Over-Allowance Amount previously paid by Tenant, Tenant shall pay the amount of such shortfall to Landlord within thirty (30) days after receipt of such reconciliation. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements is less than the amount of the Tenant Improvement Allowance plus all Over-Allowance Amounts previously paid by Tenant, Landlord shall pay the amount of such overage to Tenant at the time that Landlord delivers such reconciliation to Tenant.

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