FIRM MINIMUM ANNUAL VOLUME Sample Clauses

FIRM MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Firm Minimum Annual Volume (“AFMAV”) as determined in the formula below. This AFMAV will not be less than the minimum quantity required to qualify for firm service in the M4 Rate Schedule. The firm quantity not consumed in any Contract Year (the "Firm Deficiency Volume" or “FDV”) shall be as determined in the formula below. AFMAV = FMAV x [(U - DF) / U] FDV = AFMAV - (FV - F) Where: FMAV = Firm Minimum Annual Volume (as identified in Schedule 1) U = number of days in the Contract Year DF = number of days of Force Majeure in the Contract Year FV = total firm volume taken in the Contract Year F = volumes delivered to the Points of Consumption during Force Majeure The payment required for the FDV shall be calculated by multiplying FDV by the MAV Delivery charge specified in the M4 Rate Schedule as of the last day of the Contract Year. This payment would only apply if the FDV was greater than zero.
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FIRM MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Firm Minimum Annual Volume (“AFMAV”) as determined in the formula below. The firm quantity not consumed in any Contract Year (the "Firm Deficiency Volume" or “FDV”) shall be as determined in the formula below. AFMAV = FMAV x [(U - DF) / U]] FDV = AFMAV - (FV - F) Where: FMAV = Firm Minimum Annual Volume (as identified in Schedule 1) U = number of days in the Contract Year DF = number of days of Force Majeure in the Contract Year FV = total firm volume taken in the Contract Year F = volumes delivered to the Points of Consumption during Force Majeure The payment required for the FDV shall be calculated by multiplying FDV by the Monthly Firm Delivery Commodity Charge as of the last day of the Contract Year. This payment would only apply if the FDV was greater than zero.
Sample 1Sample 2
FIRM MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Firm Minimum Annual Volume (“AFMAV”) as determined in the formula below. The firm quantity not consumed in any Contract Year (the "Firm Deficiency Volume" or “FDV”) shall be as determined in the formula below. Where: AFMAV = FMAV x [(U - DF) / U]] FDV = AFMAV - (FV - F) And: DF = number of days of Force Majeure in the Contract Year The payment required for the FDV shall be calculated by multiplying FDV by the Monthly Firm Delivery Commodity Charge as of the last day of the Contract Year. This payment would only apply if the FDV was greater than zero.
Sample 1
FIRM MINIMUM ANNUAL VOLUME. In each Contract Year, the Customer shall consume or, in any event, pay for the Adjusted Firm Minimum Annual Volume (“AFMAV”) as determined in the formula below. The firm quantity not consumed in any Contract Year (the "Firm Deficiency Volume" or “FDV”) shall be as determined in the formula below. Where: AFMAV = FMAV x [(U - DF) / U]] FDV = AFMAV - (FV - F) And: The payment required for the FDV shall be calculated by multiplying FDV by the Monthly Firm Delivery Commodity Charge as of the last day of the Contract Year. This payment would only apply if the FDV was greater than zero.
Sample 1

Related to FIRM MINIMUM ANNUAL VOLUME

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

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

  • 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.

  • 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.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Minimum Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

  • 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.

  • Minimum Age (a) Members must be at least 14 years of age. (b) If you are under the age of 18 years, prior to being accepted as a Member, you must: Membership Agreement); and

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