Monthly Imbalances. 12.7.1 At the end of each Service Month, remaining Shipper imbalances shall be cashed out. To the extent Shipper owes natural gas volumes to Company (deliveries exceeded volumes received by Company), Xxxxxxx will purchase said volumes from Company at the percentage of the applicable cash-out price described below. To the extent Company owes natural gas volumes to Shipper (volumes received exceeded volumes delivered by Company), Company will purchase said volumes from Shipper at the applicable percentage of the cash-out price described below. Overage Underage Imbalance Level The Company Pays Shipper the Following Percentage of the Cash-Out Price Shipper Pays the Company the Following Percentage of the Cash- Out Price From 0% to 5% 100% 100% From 5% to 10% 80% 120% From 10% to 15% 70% 130% From 15% to 20% 60% 140% Greater than 20% 50% 150%
12.7.2 In the event of an “Overage,” the “Cash Out Price” shall be the “Cash-out Index” specified in the Agreement. In the event of an “Underage,” the “Cash Out Price” shall be “Cash-out Index” plus an “Adder” as specified in the Agreement.
Monthly Imbalances. 12.7.1 At the end of each Service Month, remaining Shipper imbalances shall be cashed out. To the extent Shipper owes natural gas volumes to Company (deliveries exceeded volumes received by Company), Xxxxxxx will purchase said volumes from Company at the percentage of the applicable cash-out price described below. To the extent Company owes natural gas volumes to Shipper (volumes received exceeded volumes delivered by Company), Company will purchase said volumes from Shipper at the applicable percentage of the cash-out price described below. Overage Underage Imbalance Level The Company Pays Shipper the Following Percentage of the Cash-Out Price From 0% to 5% 100% 100% From 5% to 10% 80% 120% From 10% to 15% 70% 130% From 15% to 20% 60% 140% Greater than 20% 50% 150%
12.7.2 In the event of an “Overage,” the “Cash Out Price” shall be the lower of the “Cash-out Index” specified in the Agreement or Company’s applicable weighted average cost of gas for the month. In the event of an “Underage,” the “Cash Out Price” shall be the higher of the “Cash-out Index” specified in the Agreement or Company's applicable weighted average cost of gas for the month.
Monthly Imbalances. The aggregate volumes of Crude Oil sold by Premcor to MSCG at the Origin Point and purchased by Premcor at the Delivery Point during a particular calendar month may differ due to pipeline scheduling and the length of time it takes to transport a pipeline shipment from the Origin Point to the Delivery Point.
(a) If in a particular month MSCG purchases a greater volume of Crude Oil at the Origin Point than is sold and delivered to Premcor at the Delivery Point, than the volume of Crude Oil underdelivered during such month shall be delivered to Premcor in the following month, and the price of such shipment(s) shall be determined on a First-In, First-Out basis at the price applicable to the original Delivery Month. Premcor shall be liable for one month of interest at the Interest Rate on all volumes of Crude Oil purchased by MSCG from Premcor at the Origin Point in a particular month and sold by Premcor to MSCG in the following month.
(b) If in a particular month MSCG purchases from Premcor a lesser volume of Crude Oil at the Origin Point than is sold and delivered to Premcor at the Delivery Point, MSCG shall credit Premcor with one month of interest at the Interest Rate on the volume of such imbalance.
