Regasification Flow Rate Warranty Compensation Sample Clauses

Regasification Flow Rate Warranty Compensation. Charterer is to be compensated by a reduction (*****) of the Daily Hire in the event of any interruption, failure or malfunctioning of the Vessel or its equipment which results in a failure to deliver the required daily volume of regasified LNG (in accordance with the Nomination Procedures); provided that there shall be no such reduction in Hire to the extent that (i) there is insufficient LNG on board the Vessel (other than due to excess Boil-Off or due to any fault or negligent act or omission by Owner), (ii) Charterer’s Facility is unable to receive regasified LNG or (iii) any request for delivery of regasified LNG was not made by Charterer in accordance with the Nomination Procedures. Daily Hire shall be reduced in accordance with the below *****.

Regasification Flow Rate Warranty Compensation if during any Nomination Period falling in the Warranty Liability Period (each a “FRD Nomination Period”), when required by the Company in accordance with the Nomination Procedure to deliver Regasified LNG at a rate not exceeding the Guaranteed Regasification Flow Rate, the FSRU fails for reasons other than a Company Risk Event or Force Majeure to deliver Regasified LNG (when discharged at a temperature of at least 65 degrees Fahrenheit at the Delivery Point) at an average rate at least equivalent to 98% of that rate over the FRD Nomination Period when the pressure at the Delivery Point is no more than 1140 psi(g) and the Downstream Pipeline is otherwise capable of receiving that Regasified LNG, Owner shall pay to Company for that FRD Nomination Period an amount equivalent to: ***** where: ***** is that amount payable in respect of that FRD Nomination Period; and ***** is the aggregate of the Capital Element and Operating and Maintenance Element for that FRD Nomination Period; and ***** is the percentage reduction in ***** calculated as follows: ***** SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). ***** is the volume (expressed In MMscf) of Regasified LNG delivered into the Downstream Pipeline from the FSRU in that period, discharged at a temperature of at least 65 degrees Fahrenheit at the Delivery Point (or Regasified LNG discharged at such lesser temperature that the relevant downstream offtaker accepts); and ***** is the volume (expressed in MMscf) of Regasifled LNG that would have been delivered into the Downstream Pipeline in that period had Regasified LNG been delivered at rate equivalent to 98 per cent. of the average rate required to meet the lesser of (i) Company’s Nomination in accordance with the Nomination Procedure and (ii) the quantity of LNG had Company’s Nomination not exceeded the Maximum Tested Regasification Flow Rate, in each case when the pressure at the Delivery Point is no more than 1140 psi(g) and the Downstream Pipeline is otherwise capable of receiving that Regasified LNG.