Common use of Excess Receipts Clause in Contracts

Excess Receipts. When the actual quantity of Gas received at a Point(s) of Receipt, less Fuel and Loss, exceeds the confirmed Delivery Nomination, the excess quantity of Gas, hereinafter referred to as “Excess Receipts”, shall be sold by Shipper and purchased by Gatherer at a purchase price equal to eighty percent (80%) of the lowest daily price posted for Houston Ship Channel, as reported in Gas Daily, published by The MxXxxx-Xxxx Companies, during the Month in which the imbalance occurred, less the applicable location differential and transport fuel. In the event Gas Daily ceases to be published or fails to report the necessary index price, Gatherer shall notify Shipper of the substitute index price to be used.

Excess Receipts. When the actual quantity of Gas received at a Point(s) of Receipt, less Fuel and Loss, exceeds the confirmed Delivery Nomination, the excess quantity of Gas, hereinafter referred to as “Excess Receipts”, shall be sold by Shipper and purchased by Gatherer at a purchase price equal to eighty percent (80%) of the lowest daily price posted for Houston Ship Channelprice, as reported in Gas DailyDaily Waha, published by The MxXxxx-Xxxx Companies, during the Month in which the imbalance occurred, less the applicable location differential and transport fuel. In the event Gas Daily Waha ceases to be published or fails to report the necessary index price, Gatherer shall notify Shipper of the substitute index price to be used.