Prepaid Transportation Credits Sample Clauses

Prepaid Transportation Credits. (i) If Daily Volume Commitment is 20,000 bpd or more, then any Deficiency Payments made by Shipper to Carrier under the provisions of this Section 5.2 shall constitute prepayment for services hereunder (a “Prepaid Transportation Credit”) that may be carried forward for twelve (12) months; provided, however, such twelve (12) month period shall be extended on a month for month basis for every month that Shipper nominates volume in excess of its Monthly Volume Commitment but is unable to ship such excess volume as a result of the proration policy set forth in the Rules and Regulations. (ii) If this Agreement has Terminated other than for termination pursuant to the provisions of Section 2.2(a), Section 2.2(c), or a Shipper default pursuant to Article 15 hereof, then any available Prepaid Transportation Credit shall carry forward in accordance with the periods set forth above. (iii) Prepaid Transportation Credits may be utilized solely against shipments of Crude Oil in excess of the Quarterly Volume Commitment, which are accepted for transportation by Carrier subject to available space and in accordance with the then-effective proration policy under the Rules and Regulations, and shall be applied against the transportation charges for such volumes at the rates set forth in this Agreement.
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Related to Prepaid Transportation Credits

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