Capacity and Minimum Quarterly Throughput Commitments Sample Clauses

Capacity and Minimum Quarterly Throughput Commitments. (a) Holdings shall provide storage services with respect to, and shall maintain for the use of Company approximately 3,500,000 Barrels of storage capacity at the Xxxxxxx Xxxxx Terminal, subject to reduction for periodic maintenance (the “Capacity Commitment”), and Company shall pay a Monthly fee equal to the “Terminaling Fee” determined in accordance with Exhibit A multiplied by the Capacity Commitment. (b) During each Calendar Quarter, Company shall deliver, and accept delivery into a pipeline, at the Xxxxxxx Xxxxx Terminal at least a combined average of 190,000 Barrels per Day of Crude Oil, in approximately ratable quantities (such average, the “Minimum Quarterly Throughput Commitment”). Throughput up to 10,500,000 Barrels per Calendar Quarter is included in the Capacity Commitment; for each Barrel of Crude Oil in excess of the Capacity Commitment, Company shall pay to Holdings an amount equal to the “Activity Fee” determined in accordance with Exhibit A. (c) If Company fails to meet its Minimum Quarterly Throughput Commitment during any Calendar Quarter, then Company will pay Holdings a deficiency payment (each, a “Throughput Deficiency Payment”) equal to the volume of the deficiency multiplied by the “Activity Fee” determined in accordance with Exhibit A. For purposes of this calculation, “deficiency” means the amount by which actual throughput is less than the Minimum Quarterly Throughput Commitment but greater than 10,500,000 barrels. TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). (d) The dollar amount of any Throughput Deficiency Payment paid by Company may be applied as a credit against any amounts incurred by Company and owed to Holdings with respect to volumes of Crude Oil throughput at the Xxxxxxx Xxxxx Terminal in excess of Company’s Minimum Quarterly Throughput Commitment (or, if this Agreement expires or is terminated, to volumes that would have been in excess of Company’s Minimum Quarterly Throughput Commitment if this Agreement were still in effect) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 3.02(d) shall survive the expiration or termination of this Agreement. (e) Holdings shall provide throughput services in addition to Company’s Minimum...
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Related to Capacity and Minimum Quarterly Throughput Commitments

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

  • 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 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.

  • Time Commitment The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.

  • Dollar Limits Per Service Agreement Cost to diagnose, repair and/or replace - Per covered appliance $3,000

  • Minimum Commitment If for a certain Service a minimum commitment has been determined in the Agreement, the Customer guarantees to respect the minimum commitment described in the Agreement during the entire period of the Agreement. If the Customer does not respect this minimum commitment, the Customer shall pay the compensation mentioned in the Agreement. If no compensation has been mentioned in the Agreement, the Customer has to pay the applicable Charges for the respective Service, or the average of the applicable Charges if different Charges are applied for the respective Service, per missing number of its minimum commitment. Services that are timely cancelled by the Customer or Services for which the Customer has paid a cancellation fee , do not, even not partly, release the Customer from its obligation to respect the minimum commitment . Services cancelled as due to Force Majeure and Services cancelled by Lineas for other reasons than Force Majeure, will be considered as a Services ordered and paid for by the Customer. Services cancelled by the Customer or by Lineas because of holidays do not, even not partly, release the Customer from its obligation to respect its minimum commitment.

  • Service Level Commitment IBM provides the following service level commitment (“SLA”) for the Cloud Service, after IBM makes the Cloud Service available to you.

  • MINIMUM ORDER QUANTITY The State makes no commitment to purchase any minimum or maximum quantity, or dollar volume of products from the selected suppliers. Utilization of this agreement will be on an as needed basis by State Agencies and/or Cooperative Participants, Cities, Counties, Schools K-12, Colleges and Universities. The State will award to multiple suppliers; however, the State reserves the right to purchase like and similar products from other suppliers as necessary to meet operational requirements.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Minimum Revenue Borrower and its Subsidiaries shall have Revenue from sales, marketing or distribution of the Product and related services (for each respective measured period, the “Minimum Required Revenue”): (a) during the twenty-four month period beginning on January 1, 2015, of at least $45,000,000; (b) during the twenty-four month period beginning on January 1, 2016, of at least $80,000,000; (c) during the twenty-four month period beginning on January 1, 2017, of at least $110,000,000; and (d) during the twenty-four month period beginning on January 1, 2018, of at least $120,000,000; and (e) during the twenty-four month period beginning on January 1, 2019, of at least $120,000,000.

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