Fees & Costs Calculation Clause Samples

Fees & Costs Calculation. At the end of each Month, TLO will calculate the total fees and costs that TRMC incurred for offloading and throughput of Barrels at the Anacortes Rail Unloading Facility during such Month, as follows: (i) the MTVF; plus (ii) the Excess Throughput Volume Fees attributable to such Month; less (iii) any applicable Shortfall Credits to TRMC, but not to exceed the Excess Throughput Volume Fees for such Month; less (iv) the Deemed Credit Amount, if applicable; plus (v) any surcharges, reimbursements or pass-through costs for such Month pursuant to Section 7. (d) Invoices. TLO will invoice TRMC Monthly, providing its calculations of all applicable items set forth above. All amounts set forth above shall be due and payable no later than ten (10) days after TRMC’s receipt of TLO’s invoice. The invoiced amount shall be for the items described above and other charges during the prior Month. Any past due payments owed by either Party shall accrue interest, payable on demand, at the lesser of (i) the rate of interest announced publicly by JPMorgan Chase Bank, in New York, New York, as JPMorgan Chase Bank’s prime rate (which Parties acknowledge and agree is announced by such bank and used by the Parties for reference purposes only and may not represent the lowest or best rate available to any of the customers of such bank or the Parties), plus four percent (4%), and (ii) the highest rate of interest (if any) permitted by Applicable Law, from the due date of the payment through the actual date of payment.