Deficiency Payments. (a) As soon as practicable following the end of each calendar month under this Agreement, the Logistics Entity shall deliver to the Refining Entity a written notice (the “Deficiency Notice”) detailing any failure of the Refining Entity to meet its obligations under Section 2(a), Section 2(b)(i), Section 2(b)(ii), Section 2(c), Section 2(d), Section 2(i), Section 2(k), Section 2(l) or Section 8(c) of this Agreement. The Deficiency Notice shall (i) specify in reasonable detail the nature of any deficiency and (ii) specify the approximate dollar amount that the Logistics Entity believes would have been paid by the Refining Entity to the Logistics Entity if the Refining Entity had complied with its obligations under Section 2(a), Section 2(b)(i), Section 2(b)(ii), Section 2(c), Section 2(d), Section 2(h), Section 2(i), Section 2(k), Section 2(l) and Section 8(c) of this Agreement (the “Deficiency Payment”). The Refining Entity shall pay the Deficiency Payment to the Logistics Entity upon the later of: (i) ten (10) days after its receipt of the Deficiency Notice and (ii) thirty (30) days following the end of the calendar month during which the Deficiency Notice was delivered.
(b) If the Refining Entity disagrees with the Deficiency Notice, then, following the payment of the undisputed portion of the Deficiency Payment to the Logistics Entity, a senior officer of the Refining Entity and a senior officer of the Logistics Entity shall meet or communicate by telephone at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary and shall negotiate in good faith to attempt to resolve any differences that they may have with respect to matters specified in the Deficiency Notice. If such differences are not resolved within thirty (30) days following the payment of any Deficiency Payment, the Refining Entity and the Logistics Entity shall, within forty-five (45) days following the payment of such Deficiency Payment, submit any and all matters which remain in dispute and which were properly included in the Deficiency Notice to arbitration in accordance with Section 13. During the 60-day period following the receipt of the Deficiency Notice, the Refining Entity shall have the right to inspect and audit the working papers of the Logistics Entity relating to such Deficiency Payment.
(c) If it is determined by arbitration in accordance with Section 13 that the Refining Entity was required to make any or all of the disputed portion of the...
Deficiency Payments. (a) As soon as practicable following the end of each calendar month under this Agreement, Delek Marketing shall deliver to Delek Refining a written notice (the “Deficiency Notice”) detailing any failure of Delek Refining to meet its obligations under Section 6.1, Section 6.4, Section 6.5 or Section 6.6 of this Agreement. The Deficiency Notice shall (i) specify in reasonable detail the nature of any deficiency and (ii) specify the approximate dollar amount that Delek Marketing believes would have been paid by Delek Refining to Delek Marketing if Delek Refining had complied with its obligations under Section 6.1, Section 6.4, Section 6.5 and Section 6.6 of this Agreement (the “Deficiency Payment”). Delek Refining shall pay the Deficiency Payment to Delek Marketing upon the later of: (i) ten (10) days after its receipt of the Deficiency Notice and (ii) thirty (30) days following the end of the calendar month during which the Deficiency Notice was delivered.
(b) If Delek Refining disagrees with the Deficiency Notice, then, following the payment of the undisputed portion of the Deficiency Payment to Delek Marketing, a senior officer of Delek Refining and a senior officer of Delek Marketing shall meet or communicate by telephone at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary and shall negotiate in good faith to attempt to resolve any differences that they may have with respect to matters specified in the Deficiency Notice. If such differences are not resolved within thirty (30) days following the payment of any Deficiency Payment, Delek Refining and Delek Marketing shall, within forty-five (45) days following the payment of such Deficiency Payment, submit any and all matters which remain in dispute and which were properly included in the Deficiency Notice to arbitration in accordance with Section 11.2. During the 60-day period following the receipt of the Deficiency Notice, Delek Refining shall have the right to inspect and audit the working papers of Delek Marketing relating to such Deficiency Payment.
(c) If it is determined by arbitration in accordance with Section 11.2 that Delek Refining was required to make any or all of the disputed portion of the Deficiency Payment, Delek Refining shall promptly pay to Delek Marketing such amount, together with interest thereon from the date provided in the last sentence of Section 6.9(a) at the Prime Rate, in immediately available funds.
Deficiency Payments. Notwithstanding anything to the contrary contained in this Section 2.04 or in any other provision in this Agreement, if, on any day prior to the Collection Date, a Facility Deficiency shall have occurred, then the Borrower shall remit to the respective Lenders no later than the close of business of such Lender on such day (or if such day is not a Business Day, no later than the close of business of such Lender on the next succeeding Business Day), (i) so long as no Termination Event or Event of Default shall have occurred and be continuing, the amount required to eliminate any Facility Deficiency or (ii) if any Termination Event or Event of Default shall have occurred and is continuing, the entire outstanding Facility Amount, first to the Class A Notes until paid in full, and then to the Class B Notes until paid in full.
Deficiency Payments. If Xerox shall not have deposited into the Payment Account the amount required to be paid by it pursuant to any of Section 2.17(b), Article V or Section 6.04 or Section 6.05 of the Sale and Contribution Agreement in respect of any Financing Contract, then Borrower shall, within one (1) Business Day after such payment was required to be paid into the Payment Account pursuant to the Sale and Contribution Agreement, deposit into the Payment Account an amount equal to the excess of the aggregate amount which would have been distributed to any of the Controlled Accounts in accordance with the terms of the Allocation Agreement and Payment Account Agreement if Xerox had made the required deposit over the amount, if any, deposited by Xerox into the Payment Account.
Deficiency Payments. On the day the Trustee receives a Deficit Interest Related Payment from the Contract Administrator, the Trustee shall establish a Special Record Date and pay the same to the Certificateholders entitled thereto in accordance with their respective Percentage Interests. On the day the Trustee receives a Deficiency Payment, other than a Deficit Interest Related Payment, from the Contract Administrator, the Trustee shall pay the same to the Certificateholders entitled thereto in accordance with their respective Percentage Interests.
Deficiency Payments. Except as provided in Section 5.2(d), if a Quarterly Deficiency Volume exists as of the end of any Quarter, then Shipper shall pay to Carrier an amount equal to the product of (i) the Quarterly Deficiency Volume for such Quarter and (ii) the Throughput Fee in effect for such Quarter (such product being the “Deficiency Payment”). Any Deficiency Payment due by Shipper hereunder shall be paid by Shipper as provided in Article 6.
Deficiency Payments. DB1/ 133359858.1 Notwithstanding anything to the contrary in Article 10 of the Agreement, HFRM and HEP Operating agree that deficiency payments with respect to the Xxxxxxxx Assets will be credited against any payments owed by HFRM in the following four Contract Quarters in excess of the Minimum Commitment for such Calendar Quarters; provided, however, that HFRM will not receive credit for any deficiency payment in any of the following four Contract Quarters until it has met the Minimum Commitment in the succeeding Contract Quarter.
Deficiency Payments. Subject to Section 4 hereof, if, for any reason, ------------------- Shipper fails to fully perform its Throughput Obligation (as such Throughput Obligations may be reduced in accordance with Section 2 above), Shipper shall pay Carrier a Deficiency Payment (in cash) in an amount equal to the applicable rate multiplied times the difference between: (a) the Throughput Obligation (as applicable); and (b) the volume of Crude actually transported for Shipper on the Qualifying Movement during such the Annual Term when the deficiency occurred. This deficiency payment, if any, shall be made to Carrier not later than thirty (30) days following Shipper's receipt of Carrier's invoice. Shipper shall also pay interest at the lower of: (i) the maximum lawful interest rate; or (ii) the rate equivalent to One Hundred Ten Percent (110%) of the prime rate (as announced from time to time by Citibank N.A. of New York, New York on 90-day loans to substantial and responsible commercial borrowers) on all amounts due and payable by Shipper hereunder which are not paid when due, such interest calculated from the due date of such payment until payment thereof.
Deficiency Payments. 7 UNLOADING AND BLENDING SERVICES AGREEMENT (ARTESIA)
