Common use of Quarterly Payment Obligation Clause in Contracts

Quarterly Payment Obligation. (a) If in any Quarter the difference between QTOPQ and quantity of Gas offtaken by Buyer during the Quarter is positive, such quantity of Gas shall be called “QGNT Quantity”. Buyer shall pay to the Sellers an amount equal to the QGNT Quantity multiplied by arithmetic average of the Sales Gas Price during the Quarter (“QGNT 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 QGNT 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. (b) If during a Quarter, the Buyer has offtaken Gas quantities equal to or greater than QTOPQ, then no QGNT Amount will be charged to the Buyer.

Quarterly Payment Obligation. (a) If in any Quarter the difference between QTOPQ and quantity of Gas offtaken by Buyer during the Quarter is positive, such quantity of Gas shall be called “QGNT Quantity”. Buyer shall pay to the Sellers Seller an amount equal to the QGNT Quantity multiplied by arithmetic average of the Sales Gas Price during the Quarter (“QGNT 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 QGNT 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. (b) If during a Quarter, the Buyer has offtaken Gas quantities equal to or greater than QTOPQ, then no QGNT Amount will be charged to the Buyer.