Common use of Monthly Payment Obligation Clause in Contracts

Monthly Payment Obligation. (a) If in any Month the difference between MTOPQ and quantity of Gas offtaken by Buyer during the Month is positive, such quantity of Gas shall be called “MGNT Quantity”. Buyer shall pay to the Sellers an amount equal to the MGNT Quantity multiplied by arithmetic average of the Sales Gas Price during the Month (“MGNT Amount”) and shall be adjusted by way of a debit note issued along with applicable sales tax liability. The rate of exchange to be applied to convert the MGNT amount calculated in USD to INR shall be as per Clause 10.5. The value arrived at (after the adjustment) would be treated as the actual amount receivable towards the supply of Gas to the Buyer.

Monthly Payment Obligation. (a) If in any Month the difference between MTOPQ and quantity of Gas offtaken by Buyer during the Month is positive, such quantity of Gas shall be called “MGNT Quantity”. Buyer shall pay to the Sellers Seller an amount equal to the MGNT Quantity multiplied by arithmetic average of the Sales Gas Price during the Month (“MGNT Amount”) and shall be adjusted by way of a debit note issued along with applicable sales tax liability. The rate of exchange to be applied to convert the MGNT amount calculated in USD to INR shall be as per Clause 10.5. The value arrived at (after the adjustment) would be treated as the actual amount receivable towards the supply of Gas to the Buyer.