Common use of REFERENCE FINAL INVENTORY Clause in Contracts

REFERENCE FINAL INVENTORY. The Shipper's Inventory Level at the end of the period used to calculate the Reference Send-Out Ratio for Month M (Reference Final Inventory) is a positive quantity of energy equal to: QD x ETAM+1 / ( ETAM+1 + NJM – ETAM ) where: QD is the Energy Content of the last Unloading scheduled by the Shipper for Month M ETAM is the scheduled Arrival Date of the Shipper's last Unloading for Month M ETAM+1 is the scheduled Arrival Date of the Shipper's first Unloading for Month M+1 NJM is the number of days in Month M The QD and ETAM values are based on the Shipper's Monthly Schedule Request whereas the ETAM+1 value is derived from the Shipper's Annual Schedule. If the Shipper has not scheduled any Unloadings for Month M, the Reference Final Inventory value shall be equal to zero (0). If the Shipper has not scheduled any Unloadings for Month M+1, the ETAM+1 value shall be equal to the number of days in Month M+1.