Operational Imbalances Sample Clauses

Operational Imbalances. JPM CCC and Purchaser recognize that due to the normal operation of one or more of the Transporters’ pipeline systems and/or storage facilities, certain Operational Imbalances may arise from time to time with respect to Oil sold and delivered hereunder, due to, among other things, a Transporter’s batch scheduling processes, variations in rates of the flow of Oil, Oil transit time, inaccuracies in the measurement and allocation of Oil, and other physical reasons. Notwithstanding any other term or provision in this Agreement to the contrary, to the extent any such Operational Imbalance occurs with respect to any Transaction during any Delivery Month and causes either JPM CCC or Purchaser to be unable to satisfy all or any part of its delivery or purchase obligation for such Transaction, such Party shall not be deemed to be in default hereunder with respect to its delivery or purchase obligation for such Transaction and the shortfall or excess quantity of Oil (as the case may be) (the “Imbalance Quantity”) shall be carried forward to the following Delivery Month or Delivery Months, as applicable, and settled in cash or physically settled by delivery or redelivery as soon as possible as agreed by the Parties. JPM CCC and Purchaser shall take all necessary steps to account for and settle any such Imbalance Quantity in a commercially reasonable manner and shall adjust future nominations and deliveries of Oil in accordance with the foregoing provisions. If an imbalance has been settled through the Enbridge Pipeline auto balancing procedure, then the quantity of the imbalance so settled will be flowed through directly by JPM CCC to Purchaser, such that any quantity sold to Enbridge Pipeline shall be deducted from such delivery obligation and any quantity purchased from Enbridge Pipeline will be added to such delivery obligation, and the gains or losses incurred by JPM CCC (calculated (i) with respect to quantities sold to Enbridge Pipeline, as the difference between the Contract Value for the affected quantity, except that the date on which such amount would otherwise be due, and the price discounted, using LIBOR interest rates, to such re-determined date, shall each be determined by JPM CCC in a commercially reasonable manner, and the amount received by JPM CCC for the quantity it was required to sell to Enbridge Pipeline in accordance with such auto balancing, and (ii) with respect to quantities purchased from Enbridge Pipeline, as the price paid to Enbridge Pip...
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Operational Imbalances. MLC and PESRM recognize that due to the normal operation of one or more pipeline systems, storage facilities, dock facilities and other loading and unloading facilities and the like, certain operational imbalances (each, an “Operational Imbalance”) may arise from time to time with respect to Hydrocarbons to be sold and delivered under this Agreement due to, among other things, variations in rates of the flow of such Hydrocarbons, transit times, inaccuracies in the measurement and allocation of such Hydrocarbons and other physical reasons. To the extent any such Operational Imbalance occurs and causes either Party to be unable to satisfy all or any part of its delivery or purchase obligations with respect to a PESRM Transaction, such Party shall not be deemed to be in default hereunder with respect to its delivery or purchase obligation for such PESRM Transaction and the shortfall or excess quantity of Hydrocarbon, as applicable (the “Imbalance Quantity”), shall be carried forward to the following delivery month or delivery months, as applicable, and settled in cash or physically settled by delivery or redelivery as soon as possible as agreed by the Parties. MLC and PESRM shall take all necessary steps to account for and settle any such Imbalance Quantity in a commercially reasonable manner and shall adjust future nominations and deliveries of Hydrocarbon in accordance with the foregoing provisions.
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Operational Imbalances. The Parties intend that the MMBtu of Gas actually delivered and received each day at each Interconnection Point will equal the confirmed scheduled nominations of the Parties to be delivered or received therefrom. Any variance between the actual physical flow of Gas at an Interconnection Point each day and the confirmed scheduled nominations of receipts and deliveries for that Interconnection Point for such day is an “Operational Imbalance”, which Operational Imbalance is the responsibility of the Parties to eliminate pursuant to this Agreement.
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Operational Imbalances. Operator and Customer recognize and agree that from time to time and when circumstances may require, Operator shall have the right to withdraw and utilize Customer's Gas for operational purposes without notice to Customer, provided that (i) such withdrawals shall not affect the Parties' rights and obligations under this Agreement, (ii) absent an event of Force Majeure, Operator shall remain liable to meet the daily delivery obligations, up to the MDWQ, according to the terms of the applicable Confirmation, and (iii) Operator shall, as soon as practicable and at its sole cost, risk and expense, reinject into the Storage Facility for Customer's account a quantity of Gas equal to any quantities withdrawn according to the terms of this Section 2.4. article 12 RATES Customer agrees to pay (i) the fee for the reservation of storage capacity to store the Working Gas set forth in the Confirmation (the “Storage Fee”), plus (ii) the fee for injection of Working Gas set forth in the Confirmation (the “Injection Fee”), plus (iii) the fee for withdrawal of Working Gas set forth in the Confirmation (the “Withdrawal Fee”). Operator may at any time adjust the above referenced fees in whatever manner is necessary to implement discounts or other fee adjustments. article 13 related transactions and end of term matters 14 Related Transactions. Customer shall be responsible for all matters arising from or ancillary to the purchase and sale of Gas to be stored on its behalf in the Storage Facility and for the transportation of such Gas to the Receipt Point(s) and from the Delivery Point(s), including, without limitation, securing and maintaining all necessary transportation services with Transporting Pipelines, complying with all reporting requirements and payment obligations arising in respect of Gas sales proceeds, paying or delivering all royalties and other third party interests, securing and maintaining all required permits and authorizations and paying all taxes, levies and charges associated with its purchase hereunder of storage services or its nominating from time‑to‑time for injection and withdrawal of Gas from the Storage Facility.
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Related to Operational Imbalances

  • Imbalances The parties hereto recognize that with respect to Section 2.01, on any Day, receipts of gas by Union and deliveries of gas by Union may not always be exactly equal, but each party shall cooperate with the other in order to balance as nearly as possible the quantities transacted on a daily basis, and any imbalances arising shall be allocated to the Facilitating Agreements and shall be subject to the respective terms and charges contained therein, and shall be resolved in a timely manner.

  • Gas Imbalances As of the Closing Date, except as set forth on Schedule 7.24 or on the most recent certificate delivered pursuant to Section 8.07(c), on a net basis there are no gas imbalances, take or pay or other prepayments with respect to any of the Obligors’ Oil and Gas Properties which would require any such Obligors to deliver, in the aggregate, five percent (5%) or more of the monthly production of Hydrocarbons produced from their Oil and Gas Properties at some future time without then or thereafter receiving fall payment therefor.

  • Disaster Recovery and Business Continuity The Parties shall comply with the provisions of Schedule 5 (Disaster Recovery and Business Continuity).

  • Interconnection Facilities 4.1.1 The Interconnection Customer shall pay for the cost of the Interconnection Facilities itemized in Attachment 2 of this Agreement. The NYISO, in consultation with the Connecting Transmission Owner, shall provide a best estimate cost, including overheads, for the purchase and construction of its Interconnection Facilities and provide a detailed itemization of such costs. Costs associated with Interconnection Facilities may be shared with other entities that may benefit from such facilities by agreement of the Interconnection Customer, such other entities, the NYISO, and the Connecting Transmission Owner. 4.1.2 The Interconnection Customer shall be responsible for its share of all reasonable expenses, including overheads, associated with (1) owning, operating, maintaining, repairing, and replacing its own Interconnection Facilities, and

  • Interconnection Customer’s Interconnection Facilities The Interconnection Customer shall design, procure, construct, install, own and/or control the Interconnection Customer’s Interconnection Facilities described in Appendix A at its sole expense.

  • Participating TO’s Interconnection Facilities The Participating TO shall design, procure, construct, install, own and/or control the Participating TO’s Interconnection Facilities described in Appendix A at the sole expense of the Interconnection Customer. Unless the Participating TO elects to fund the capital for the Participating TO’s Interconnection Facilities, they shall be solely funded by the Interconnection Customer.

  • Trunk Group Connections and Ordering 5.2.1 For both One-Way and Two-Way Interconnection Trunks, if Onvoy wishes to use a technically feasible interface other than a DS1 or a DS3 facility at the POI, the Parties shall negotiate reasonable terms and conditions (including, without limitation, rates and implementation timeframes) for such arrangement; and, if the Parties cannot agree to such terms and conditions (including, without limitation, rates and implementation timeframes), either Party may utilize the Agreement’s dispute resolution procedures. 5.2.2 When One-Way or Two-Way Interconnection Trunks are provisioned using a DS3 interface facility, if Onvoy orders the multiplexed DS3 facilities to a Frontier Central Office that is not designated in the NECA 4 Tariff as the appropriate Intermediate Hub location (i.e., the Intermediate Hub location in the appropriate Tandem subtending area based on the LERG), and the provision of such facilities to the subject Central Office is technically feasible, the Parties shall negotiate in good faith reasonable terms and conditions (including, without limitation, rates and implementation timeframes) for such arrangement; and, if the Parties cannot agree to such terms and conditions (including, without limitation, rates and implementation timeframes), either Party may utilize the Agreement’s dispute resolution procedures. 5.2.3 Each Party will identify its Carrier Identification Code, a three or four digit numeric code obtained from Telcordia, to the other Party when ordering a trunk group. 5.2.4 For multi-frequency (MF) signaling each Party will out pulse ten (10) digits to the other Party, unless the Parties mutually agree otherwise. 5.2.5 Each Party will use commercially reasonable efforts to monitor trunk groups under its control and to augment those groups using generally accepted trunk- engineering standards so as to not exceed blocking objectives. Each Party agrees to use modular trunk-engineering techniques for trunks subject to this Attachment.

  • Verizon OSS Facilities Any gateways, interfaces, databases, facilities, equipment, software, or systems, used by Verizon to provide Verizon OSS Services to ICG.

  • Credits and Prorations (a) The following shall be apportioned with respect to the Property as of 12:01 a.m., on the day of Closing, as if Purchaser were vested with title to the Property during the entire day upon which Closing occurs: (i) rents, if any, as and when collected (the term “rents” as used in this Agreement includes all payments due and payable by tenants under the Leases); (ii) taxes (including personal property taxes on the Personal Property) and assessments levied against the Property; (iii) payments under the Operating Agreements; (iv) gas, electricity and other utility charges for which Seller is liable, if any, such charges to be apportioned at Closing on the basis of the most recent meter reading occurring prior to Closing; and (v) any other operating expenses or other items pertaining to the Property which are customarily prorated between a purchaser and a seller in the area in which the Property is located. (b) Notwithstanding anything contained in the foregoing provisions: (i) At Closing, (A) Seller shall, at Seller’s option, either deliver to Purchaser any security deposits actually held by Seller pursuant to the Leases or credit to the account of Purchaser the amount of such security deposits (to the extent such security deposits are not applied against delinquent rents or otherwise as provided in the Leases), and (B) Purchaser shall credit to the account of Seller all refundable cash or other deposits posted with utility companies serving the Property, or, at Seller’s option, Seller shall be entitled to receive and retain such refundable cash and deposits. In the event any security deposits shall have been deposited with Seller in a form other than cash (e.g. letter of credit), Seller shall satisfy its obligations hereunder with respect to such security deposit by delivering to Purchaser an assignment of such security deposit to Purchaser with written instructions to the issuer of such deposits to transfer the same to Purchaser, and appropriate instruments of transfer or assignment. (ii) Any taxes paid at or prior to Closing shall be prorated based upon the amounts actually paid. If taxes and assessments for the current year have not been paid before Closing, Seller shall be charged at Closing an amount equal to that portion of such taxes and assessments which relates to the period before Closing and Purchaser shall pay the taxes and assessments prior to their becoming delinquent. Any such apportionment made with respect to a tax year for which the tax rate or assessed valuation, or both, have not yet been fixed shall be based upon the tax rate and/or assessed valuation last fixed. To the extent that the actual taxes and assessments for the current year differ from the amount apportioned at Closing, the parties shall make all necessary adjustments by appropriate payments between themselves following Closing. (iii) Charges referred to in Section 4.5(a) hereof which are payable by any tenant to a third party shall not be apportioned hereunder, and Purchaser shall accept title subject to any of such charges unpaid and Purchaser shall look solely to the tenant responsible therefor for the payment of the same.

  • Delivery Point The delivery point is the point of delivery of the Power Product to the CAISO Controlled Grid (the “Delivery Point”). Seller shall provide and convey to Buyer the Power Product from the Generating Facility at the Delivery Point. Title to and risk of loss related to the Power Product transfer from Seller to Buyer at the Delivery Point.

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