Common use of OVER LIFTING Clause in Contracts

OVER LIFTING. Seller reserves the right, after notice to Buyer (“Overlift Notice”), to impose an “Overlift Charge” per gallon for each gallon of Product, as specified above, purchased by Buyer that exceeds the applicable Monthly Gallons set forth above. For the month on which Buyer lifts Product during a period in which Seller’s Overlift Notice is in effect (“Lifting Month”), the “Over Lifting Volume” of Product by supply location shall be determined by subtracting the applicable Monthly Gallons by the Over Lifting Volume for the month period in which Seller’s Overlift Notice is in effect. For purpose of calculating the Overlift Charge, the applicable Over Lifting Volume shall be rounded up to the next number divisible by 10,000. Alternatively, if specified in the Overlift Notice or the Price above, Seller may impose the Overlift Charge on a daily basis or weekly basis as specified, meaning that the Overlift Charge must be paid for each gallon of Product purchased by Buyer that exceeds: 1) a daily ratable volume after a specified day or 2) a weekly ratable volume after a specified week. Buyer agrees to pay the Overlift Charge, if imposed by Seller. The Overlift Charge shall be in addition to the purchase price for the products and any other charges, fees or amounts owed by Buyer under the Agreement.