Common use of Calculation of Volume Shortfalls Clause in Contracts

Calculation of Volume Shortfalls. Subject to the provisions of Sections 9.5 and 9.6, if in any Contract Year that Shipper fails to meet the Annual Volume Commitment (a “Volume Shortfall”), Shipper shall elect in writing to either: (i) remit a payment to Gatherer calculated by multiplying the Volume Shortfall for the applicable Contract Year by the Gathering Fee then in effect during the corresponding Contract Year (the “Volume Shortfall Payment”); or (ii) pay an amount of money, divided into twelve (12) equal monthly installments, equal to the Volume Shortfall Payment plus interest at a rate that is the greater of: (X) [***], or (Y) [***] plus the difference between: (i) the 10 Year Note Yield on the last Business Day of the applicable Contract Year; less (ii) the 10 Year Note Yield as of the Effective Date. Gatherer shall calculate the Volume Shortfall and Volume Shortfall Payment, if any, within sixty (60) days after the expiration of Contract Year in which the shortfall occurred, and the results shall be promptly provided in writing to Shipper. Shipper shall remit the Volume Shortfall Payment or first Volume Shortfall Payment monthly installment, if any, within thirty (30) days of receipt of the invoice containing the Volume Shortfall Payment calculation. Subsequent Volume Shortfall and Volume Shortfall Payment calculations and payments shall be made in the same manner upon expiration of each successive Contract Year.

Calculation of Volume Shortfalls. The Contract Year 1 Volume Commitment shall commence on the Effective Date and shall run through the first anniversary of the Effective Date. Subject to the provisions of Sections 9.5 and 9.6, if in any Contract Year that Shipper fails to meet the Annual Volume Commitment (a “Volume Shortfall”), Shipper shall elect in writing to either: (i) remit a payment to Gatherer calculated by multiplying the Volume Shortfall for the applicable Contract Year by the Gathering Fee then in effect during the corresponding Contract Year (the “Volume Shortfall Payment”); or (ii) pay an amount of money, divided into twelve (12) equal monthly installments, equal to the Volume Shortfall Payment plus interest at a rate that is the greater of: (X) [***], or (Y) [***] plus the difference between: (i) the 10 Year Note Yield on the last Business Day of the applicable Contract Year; less (ii) the 10 Year Note Yield as of the Effective Date. Gatherer shall calculate the Volume Shortfall and Volume Shortfall Payment, if any, within sixty (60) days after the expiration of Contract Year in which the shortfall occurred, and the results shall be promptly provided in writing to Shipper. Shipper shall remit the Volume Shortfall Payment or first Volume Shortfall Payment monthly installment, if any, within thirty (30) days of receipt of the invoice containing the Volume Shortfall Payment calculation. Subsequent Volume Shortfall and Volume Shortfall Payment calculations and payments shall be made in the same manner upon expiration of each successive Contract Year.

Calculation of Volume Shortfalls. The Volume Commitment shall commence on the Effective Date and shall continue until the [***] anniversary of such date. Subject to the provisions of Sections 9.5 and 9.68.5 below, if in if, during any Contract Calendar Year that Shipper fails to meet the Annual Volume Commitment with respect Gas delivered either by Shipper or [***] (a “Volume Shortfall”)) for such year on an aggregate basis, Shipper shall elect in writing to either: (i) remit a payment to Gatherer calculated by multiplying the Volume Shortfall for the applicable Contract Calendar Year by the total Gathering Fee Fees described in Section 7.1(a)(i) then in effect applicable to Shipper (even if the shortfall occurs with respect to Gas delivered by [***]) during the corresponding Contract Calendar Year (the “Volume Shortfall Payment”); or (ii) pay an amount of money, divided into twelve (12) equal monthly installments, equal to the Volume Shortfall Payment plus interest at a rate that is the greater of: (X) [***], or (Y) [***] plus the difference between: (i) the 10 Year Note Yield on the last Business Day of the applicable Contract Year; less (ii) the 10 Year Note Yield as of the Effective Date. Gatherer shall calculate the Volume Shortfall and Volume Shortfall Payment, if any, within sixty (60) days after the expiration of Contract Calendar Year in which the shortfall occurred, and the results shall be promptly provided in writing to Shipper. Subject to the terms and conditions of this Agreement, Shipper shall remit the Volume Shortfall Payment or first Volume Shortfall Payment monthly installmentPayment, if any, within thirty (30) days of receipt of the invoice containing the Volume Shortfall Payment calculation. Subsequent Volume Shortfall and Volume Shortfall Payment calculations and payments shall be made in the same manner upon expiration of each successive Contract Calendar Year. If at any time [***] fails to meet the Volume Commitment, as applicable with respect to [***], Shipper reserves the right to replace the Volume Shortfall with Excess Volumes delivered by Shipper at the Gathering Fee then in effect applicable to Shipper. *** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.