Common use of Minimum Throughput Commitment Clause in Contracts

Minimum Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 100,000 Barrels per Day of Product to the Terminal for storage and handling and redelivery to Customer in approximately ratable quantities (such average, the “Minimum Quarterly Commitment”) and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Commitment during such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Throughput Charge. Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge payable hereunder. The dollar amount of any Quarterly Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to the Terminal in excess of Customer’s Minimum Quarterly Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the terminal in excess of the applicable Minimum Quarterly Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Quarterly Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein. Company shall provide throughput capacity at the Terminal to Customer in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity will be subject to the Throughput Charge.

Appears in 2 contracts

Samples: Master Terminal Services Agreement (Valero Energy Partners Lp), Master Terminal Services Agreement (Valero Energy Partners Lp)

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Minimum Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 100,000 30,000 Barrels per Day of Product to the Terminal for storage and handling and redelivery to Customer in approximately ratable quantities (such average, the “Minimum Quarterly Commitment”) ), and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Commitment during such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Throughput ChargeCharges. Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge Charges payable hereunder. The dollar amount of any Quarterly Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to the Terminal in excess of Customer’s Minimum Quarterly Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the terminal Terminal in excess of the applicable Minimum Quarterly Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Quarterly Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein. Company shall provide throughput capacity at the Terminal to Customer in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity will be subject to the Throughput ChargeCharges.

Appears in 2 contracts

Samples: Master Terminal Services Agreement (Valero Energy Partners Lp), Master Terminal Services Agreement (Valero Energy Partners Lp)

Minimum Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 100,000 51,100 Barrels per Day of Product to the Terminal for storage and handling and redelivery to Customer at the Truck Rack, in approximately ratable quantities (such average, the “Minimum Quarterly Commitment”) and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Commitment during in such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Throughput Charge. Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge payable hereunder. The dollar amount of any Quarterly Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to across the Terminal Truck Rack in excess of Customer’s Minimum Quarterly Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the terminal Terminal in excess of the applicable Minimum Quarterly Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Quarterly Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein. During the Term, Company shall provide throughput capacity at the Terminal Truck Rack to Customer in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity will be subject to the Throughput Charge.

Appears in 2 contracts

Samples: Master Terminal Services Agreement (Valero Energy Partners Lp), Master Terminal Services Agreement (Valero Energy Partners Lp)

Minimum Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 100,000 30,000 Barrels per Day of Product to the Terminal for storage and handling and redelivery to Customer in approximately ratable quantities (such average, the “Minimum Quarterly Commitment”) ), and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Commitment during such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Throughput ChargeCharges. Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge Charges payable hereunder. The dollar amount of any Quarterly Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to the Terminal in excess of Customer’s Minimum Quarterly Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the terminal Terminal in excess of the applicable Minimum Quarterly Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Quarterly Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein. Company shall provide throughput capacity at the Terminal to Customer in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity will be subject to the Throughput ChargeCharges. 8.

Appears in 1 contract

Samples: Master Terminal Services Agreement

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Minimum Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 100,000 Barrels per Day of Product to the Terminal for storage and handling and redelivery to Customer in approximately ratable quantities (such average, the “Minimum Quarterly Commitment”) and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Commitment during such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Throughput Charge. Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge payable hereunder. The dollar amount of any Quarterly Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to the Terminal in excess of Customer’s Minimum Quarterly Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the terminal in excess of the applicable Minimum Quarterly Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Quarterly Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein. Company shall provide throughput capacity at the Terminal to Customer in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity will be subject to the Throughput Charge. 8.

Appears in 1 contract

Samples: Master Terminal Services Agreement

Minimum Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 100,000 51,100 Barrels per Day of Product to the Terminal for storage and handling and redelivery to Customer at the Truck Rack, in approximately ratable quantities (such average, the “Minimum Quarterly Commitment”) and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Commitment during in such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Throughput Charge. Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge payable hereunder. The dollar amount of any Quarterly Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to across the Terminal Truck Rack in excess of Customer’s Minimum Quarterly Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the terminal Terminal in excess of the applicable Minimum Quarterly Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Quarterly Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein. During the Term, Company shall provide throughput capacity at the Terminal Truck Rack to Customer in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity will be subject to the Throughput Charge. 8.

Appears in 1 contract

Samples: Master Terminal Services Agreement

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