Common use of Excess Boil-Off Clause in Contracts

Excess Boil-Off. 7.6.1 If in relation to any: (a) Cargo delivered to the FSRU; or (b) cargo loaded from the FSRU, the Actual Laytime exceeds the Allowed Laytime, the Operator shall pay to the User a sum to compensate the User for excess Boil Off from the affected LNG Vessel, determined as: H × RBO × LNG Price where: 7.6.2 The Operator shall only be required to compensate the User for the amount in respect of excess Boil Off calculated pursuant to Clause 7.6.1 to the extent that the Operator has received the corresponding amount from the FSRU Owner.

Appears in 4 contracts

Samples: Terminal Use Agreement, Terminal Use Agreement, Terminal Use Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!