Monthly Nomination Procedure Sample Clauses
The Monthly Nomination Procedure clause establishes the process by which parties must specify their requirements or commitments for a particular product or service on a monthly basis. Typically, this involves one party submitting a forecast or nomination of quantities to be delivered or received for the upcoming month, often by a set deadline, and the other party confirming or adjusting these nominations. This clause ensures both parties have clear expectations and can plan their operations accordingly, reducing the risk of misunderstandings or supply disruptions.
Monthly Nomination Procedure. For each Month, Shipper shall submit nomination(s) via LMM’s Nomination System of the number of Dth of Shipper’s Gas that Shipper desires LMM to deliver at the Delivery Point(s). The total of such nomination(s) shall not exceed the MDQ unless LMM otherwise consents in writing.
Monthly Nomination Procedure. The Shippers shall cause the operator of the Dedicated Reserves to submit in writing to Gatherer no later than the first day of each Month Shippers' best estimate (referred to herein as "Shippers' Daily Nominated Quality") of their daily requirements for such Month. Shippers' Daily Nominated Quantity shall be stated in MMBtu's, shall designate quantities at the Point of Receipt and Point of Delivery, and shall reflect any imbalance (or Shippers' best estimate of any imbalance), make-up quantities, scheduled daily variations, the Btu content per cubic foot of Gas, and, if applicable, any Condensate or liquefiable hydrocarbons delivered to Gatherer. Unless modified by Shippers as described below, Shippers' Daily Nominated Quantity shall be effective for each day of the applicable Month. Nominations to commence service on any day other than the first day of any Month or to modify Shippers' Daily Nominated Quantity shall be submitted in writing by the operator of the Dedicated Reserves on behalf of Shippers and received by Gatherer no later than the business day immediately preceding the day that such service is requested to commence or that such modification is to be effective.