Outturn Entitlement Clause Samples

Outturn Entitlement. 7.1 The Client will be entitled to an Outturn by weight of the Client Grain initially received on behalf of the Client; after deduction of the Shrinkage Allowance and Dust (“Outturn Entitlement”). The Client may access the whole or part of the Outturn Entitlement by issuing a GMO. 7.2 When all Client Grain has been Outturned from all Facilities the Company will advise the Client of any variation between the Outturn Entitlement and the tonnage actually outturned (“Variation”). If the Outturn Entitlement has not been completely received by the Client, the Company will, in its absolute discretion, either (a) replace the physical short Outturn Entitlement of the Client, or (b) determine, acting reasonably, the value of the Variation including any freight component base grade quality. 7.3 If the Company determines in accordance with clause 7.2(b), that after the Outturn of all Client Grain of a Season from all Company non-port Facilities for a Grade, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (a) If the actual tonnage Outturned to the Client exceeds the Client’s Outturn Entitlement, the Client must either pay the Company for the excess at the Washout Price or replace the shortfall by using other grades as negotiated and agreed with the Company. (b) If the actual tonnage Outturned to the Client is less than the Client’s Outturn Entitlement, the Company may, at its discretion, either replace the physical Grain shortfall in the Client’s Outturn Entitlement or pay the Client for the deficiency in the Outturn Entitlement at the Washout Price. (c) For the purposes of this clause 7.3, “Washout Price” for the Client Grain, unless otherwise agreed, a spot price will be determined (average of three independent brokers) on the day that the Client is advised of the variation. 7.4 The Company is not required to Outturn Grain if it has received notification from a bona fide third party holding a security Interest over that Client Grain) until; (a) the party holding the security interest has consented to the Outturn; or (b) the Company receives a court order requiring it to Outturn the Grain. 7.5 The Client will indemnify the Company against all losses (including consequential and indirect loss), costs, damages, expenses, charges and surcharges the Company incurs or sustains as a result of a Claim made against the Company by any person holding a security Interest over Client Grain and/or for breach of claus...
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Outturn Entitlement. 7.1 The Client will be entitled to an Outturn by weight of the:
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Outturn Entitlement. 7.1 The Client will be entitled to an Outturn by weight of the Client Grain initially received on behalf of the Client after deduction of the Shrinkage Allowance and Dust (“Outturn Entitlement”). The Client may access the whole or part of the Outtturn Entitlement by issuing a GMO. 7.2 When all Client Grain has been Outturned from the Port Terminal the Company will advise the Client of any variation between the Outturn Entitlement and the tonnage actually outturned (“Variation”). If the Outturn Entitlement has not been completely received by the Client, the Company will, in its absolute discretion, either Emerald Grain Indicative Access Agreement 143/154 Page 12 of 25 (a) replace the physical short Outturn Entitlement of the Client, or
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Outturn Entitlement. 7.1 The Client will be entitled to an Outturn by weight of the: (a) Client Grain initially received on behalf of the Client; or (b) if clause 6.8 (a) applies, Client Grain as stated in the Stock Summary Report, after deduction of the Shrinkage Allowance and Dust (“Outturn Entitlement”). The Client may access the whole or part of the Outtturn Entitlement by issuing a GMO. 7.2 When all Client Grain has been Outturned from all Facilities the Company will advise the Client of any variation between the Outturn Entitlement and the tonnage actually outturned (“Variation”). If the Outturn Entitlement has not been completely received by the Client, the Company will, in its absolute discretion, either (a) replace the physical short Outturn Entitlement of the Client, or (b) determine, acting reasonably, the value of the Variation including any freight component base grade quality. 7.3 If the Company determines in accordance with clause 7.2(b), that: Formatted: Marque Heading 2, Outline numbered + Level: 2 + Numbering Style: 1, 2, 3, … + Start at: 1 + Alignment: Left + Aligned at: 0 cm + Tab after: 1 cm + Indent at: 1 cm, Adjust space between Latin and Asian text, Adjust space between Asian text and numbers 7.3 after the Outturn of all Client Grain of a Season from all Company non-port Facilities for a Grade, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. : (a) For Client Grain, unless otherwise agreed, a Season average price will be calculated based on Season average cash prices posted by the Client and all Other Clients over harvest at the non-port Company Facility. If cash prices are not posted at particular Company Facilities, or are posted with such irregularity that they do not represent the market price (in the opinion of the Company in its sole discretion), then the Company will use the average estimated pool return of three pool providers posted at the Company Facility for the Season of delivery as its financial washout value. (b) If the actual tonnage Outturned to the Client exceeds the Client‟s Outturn Entitlement, the Client must either pay the Company for the excess at the average price calculated under clause 7.3 (a) (Washout Price) or replace the shortfall by using other grades as negotiated and agreed with the Company. (c) If the actual tonnage Outturned to the Client is less than the Client‟s Outturn Entitlement, the Company may, at its discretion, either replace the physical Grain shor...
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Related to Outturn Entitlement

  • Basic entitlement 7.4.2(a) After twelve months continuous service, parents are entitled to a combined total of 52 weeks unpaid parental leave on a shared basis in relation to the birth or adoption of their child. For females, maternity leave may be taken and for males, paternity leave may be taken. Adoption leave may be taken in the case of adoption.

  • Overtime Entitlement (a) An employee will be entitled to compensation for authorized overtime in excess of: (1) the scheduled daily hours; or (2) the maximum daily hours for those employees on flextime; or (3) the agreed averaging period. (b) For the purposes of calculating the hourly rate for overtime, an employee's biweekly rate shall be divided by 70. (c) Overtime shall be compensated in 30-minute increments; however, employees shall not be entitled to any compensation for periods of overtime of less than five minutes per day.

  • Benefit Entitlement When an employee is on a WCB claim all benefits of the Agreement will continue to accrue. However, an employee off work on WCB claim shall receive net wages as defined by (A) above, and benefits equalling but not to exceed their normal entitlement had they not suffered a compensable injury. For the first twenty (20) work days on claim, an employee will accrue paid holidays and vacation credits. Once the claim exceeds twenty (20) work days, paid holidays and vacation credits will not accrue. However, unused vacation credits accrued prior to the claim shall not be lost as a result of this clause.

  • Job Search Entitlement Where an employer has given notice of termination to an employee, an employee must be allowed up to one day’s time off without loss of pay for the purpose of seeking other employment. The time off is to be taken at times that are convenient to the employee after consultation with the employer.

  • Determination of Entitlement (a) Where there has been a written request by Indemnitee for indemnification pursuant to Section 5.01(b), then as soon as is reasonably practicable (but in any event not later than 60 days) after final disposition of the relevant Proceeding, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change of Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification). (b) If entitlement to indemnification is to be determined by Independent Counsel pursuant to Section 5.02(a)(ii), such Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. If entitlement to indemnification is to be determined by Independent Counsel pursuant to Section 5.02(a)(i)(C) (or if Indemnitee requests that such selection be made by the Board), such Independent Counsel shall be selected by the Company in which case the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within 10 days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within 20 days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 5.01(b) hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 5.02(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 6.01(a) of this Agreement, the Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). (c) The Company agrees to pay the reasonable fees and expenses of any Independent Counsel serving under this Agreement.