Shortfall Gas Sample Clauses

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Shortfall Gas. Shortfall Gas is any quantity of Natural Gas not made available by SELLER at Delivery Point(s) in respect of any Day of Delivery Period for reasons other than Force Majeure and/or Agreed Repairs. Such Shortfall Gas shall be determined by adding up the daily underdeliveries which occurred under this GSFA during the Month of Delivery concerned, calculated as the difference (if positive) between: a) the delivery obligation according to the Article 4.1 (DCQ), or the daily quantity, if any, requested by the dispatching center of BUYER in accordance with Article 7 below, whichever is the lower, and b) the daily quantity of Natural Gas made available by SELLER under this GSFA.
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Shortfall Gas. 17.1.1 With effect from the later of the Commencement Date and October 1, 2013, if the Sellers fail in respect of any Hour to deliver the quantity of Specification Gas Properly Nominated for delivery for any reason other than the Buyer’s failure to take Specification Gas otherwise properly tendered for delivery in accordance with this Agreement, such amount will be “Shortfall Gas”, provided however that (**). 17.1.2 Notwithstanding the above, for the purposes of calculating Shortfall Gas, a Proper Nomination in respect of any Hour shall not include any quantity of Specification Gas: (a) which exceeds the quantity taken by the Buyer in respect of the immediately preceding Hour (other than by reason of Sellers’ failure to tender for delivery Properly Nominated Gas in such preceding Hour) by more than: (i) (**) MMBTU if the quantity taken by the Buyer in the preceding Hour was equal to or lower than (**) MMBTU; (ii) (**) MMBTU if the quantity taken by the Buyer in the preceding Hour was higher than (**) MMBTU (**) or (**) MMBTU if the quantity taken by the Buyer in the preceding Hour was higher than (**) MMBTU (**). (b) (**); (c) which exceeds zero (0) during the first three (3) Hours after a Cold Start (**); or (d) which exceeds (**) during the first (**) Hours after any Hour in which the Buyer and others nominated a total quantity of less than (**) MMBTU for delivery from the Reservoir to the Delivery Point or from the fourth Hour after such Hour quantities which exceeds the rates as set out in Article 17.1.2(a) above. 17.1.3 If any correction of quantities delivered in any Hour is made under the provisions of Article 15, then the actual amount of any Shortfall Gas accrued shall be adjusted when the corrected amounts are available under the provisions of Article 15 and the appropriate adjustments shall be made for the purposes of Article 17.2. 17.1.4 In order to avoid any doubt, Shortfall Gas shall not include any quantity for which the Sellers are relieved from liability in accordance with Article 16. 17.1.5 It is agreed that the provisions of Article 17.1 shall not apply in circumstances where in any Hour, the quantity of Gas delivered by the Sellers in respect of that Hour, is within the (**). 17.1.6 In respect of each Day and each Week, if the aggregate quantity of Gas delivered by the Sellers in respect of such periods, is not within the (**), respectively, then the extent to which the aggregate delivery falls short of the aggregate Proper Nominations ...
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Shortfall Gas. If for any reason other than Force Majeure, the SELLER makes available to the BUYER at the Delivery Point in respect of any Day within the Delivery Period a quantity of Natural Gas which is less than the delivery obligation according to the Article 4.1 (DCQ), then a quantity equal to the difference between the delivery obligation (DCQ) and the quantity actually delivered at the Delivery Point shall be categorized as a Shortfall Gas.
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Shortfall Gas. 17.1.1 With effect from the Commencement Date, if the Sellers fail in respect of any Day and/or Month to make available for delivery the quantity of Specification Gas Properly Nominated for delivery, for any reason other than the Buyer’s failure for any reason to take Specification Gas otherwise properly tendered for delivery in accordance with this Agreement, in excess of the Daily Delivery Tolerance and/or the [***], such amount will be “Shortfall Gas” and that part of the Shortfall Gas which (i) does not exceed [***] of the Proper Nomination in respect of that Day; or (ii) is deemed as Shortfall Gas on a monthly basis in respect of the aggregate Proper Nominations made during a certain Month; shall be referred to herein as “First Shortfall Gas” and that part of the Shortfall Gas which exceeds [***] of the Proper Nomination in respect of that Day shall be referred to herein as “Second Shortfall Gas”. 17.1.2 In order to avoid any doubt, Shortfall Gas shall not include any quantity for which the Sellers are relieved from liability in accordance with Article 16 and any Permitted Delivery Reduction pursuant to Article 2.6.5.
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Shortfall Gas. Shortfall Gas is any quantity of Natural Gas not made available by SELLER at Delivery Point in respect of any Day of Delivery Period for reasons other than Force Majeure. Such Shortfall Gas shall be determined by adding up the daily underdeliveries which occurred under this GSA during the Delivery Period concerned, calculated as the difference (if positive) between: a) the delivery obligation according to the Article 4.1 (DCQ), or the daily quantity, if any, requested by the dispatching center of BUYER in accordance with Article 7 below, whichever is the lower, and b) the daily quantity of Natural Gas made available by SELLER under this GSA.
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Shortfall Gas. 17.1.1 With effect from the later of the Commencement Date and October 1, 2013, if the Sellers fail in respect of any Hour to deliver the quantity of Specification Gas Properly Nominated for delivery for any reason other than the Buyer's failure to take Specification Gas otherwise properly tendered for delivery in accordance with this Agreement, such amount will be "Shortfall Gas", provided however that (**). 17.1.2 Notwithstanding the above, for the purposes of calculating Shortfall Gas, a Proper Nomination in respect of any Hour shall not include any quantity of Specification Gas:
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Shortfall Gas. 5.2.1 Shortfall Gas is any quantity of Natural Gas not made available by the SELLER during a Month for reasons other than Force Majeure. Such Shortfall Gas shall be determined by adding up the daily under deliveries which occurred under this GSA during the Month concerned, calculated as the difference (if positive) between: a) the Daily Delivery Obligation of the SELLER under this GSA as per the Article 4.1 (MaxDCQ), or the daily quantity, if any, requested by the BUYER in accordance with the Article 5.1 above, whichever is the lower, and b) the daily quantity of Natural Gas made available by the SELLER under this GSA. If the quantity calculated as stated in this subsection is lower than 1 % of the MaxDCQ, then such difference shall not be considered as a Shortfall Gas and the provisions of the Article 5.2.2 shall not apply. 5.2.2 Shortfall Gas shall be calculated daily and a quantity of Natural Gas first delivered on and/or after the Day on which the deficiency occurred equal to the Shortfall Gas shall be priced at the applicable Contract Price reduced by a discount of  8 %. if the Delivery Period is 1.10.2016-31.12.2016
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Related to Shortfall Gas

  • Shortfalls (i) If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class A Shortfall”. Interest shall accrue on the Class A Shortfall at the Class A Note Rate.

  • Shortfall If, on any date, the Outstanding Advances shall exceed the Maximum Advance Amount (such excess, the "Shortfall Amount"), then the Customer shall on such date prepay the Outstanding Advances in an amount equal to such Shortfall Amount.

  • Allocation of Realized Losses Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and, thereafter, if any such Realized Losses are on a Discount Mortgage Loan, to the Class A-P Certificates in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non-Discount Mortgage Loans will be allocated among all the Senior Certificates (other than the Class A-V Certificates and Class A-P Certificates) in the case of the principal portion of such loss on a pro rata basis and among all of the Senior Certificates (other than the Class A-P Certificates) in the case of the interest portion of such loss on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on Non-Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. The principal portion of such Realized Losses on the Discount Mortgage Loans will be allocated to the Class A-P Certificates in an amount equal to the Discount Fraction thereof and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non- Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a "pro rata basis" among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Subordinate Certificates then outstanding with the Lowest Priority shall be made by operation of the definition of "Certificate Principal Balance" and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount of Accrued Certificate Interest and by operation of the definition of "Accrued Certificate Interest" and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby; provided that if any Subclasses of the Class A-V Certificates have been issued pursuant to Section 5.01(c), such Realized Losses and other losses allocated to the Class A-V Certificates shall be allocated among such Subclasses in proportion to the respective amounts of Accrued Certificate Interest payable on such Distribution Date that would have resulted absent such reductions.

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.

  • Excess Finance Charge Collections Any amounts remaining in the Cap Proceeds Account, the Collection Account and the Payment Reserve Account, to the extent of any Available Series 1998-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xii) of the Agreement, shall be treated as Excess Finance Charge Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Securityholders of other Series to the extent of shortfalls, if any, in amounts payable to such Securityholders from Finance Charge Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then on each Business Day other than the Default Recognition Date, to pay to the Transferor to be treated as "Transferor Retained Finance Charge Collections," and, on each Default Recognition Date, to pay any remaining Excess Finance Charge Collections to the Transferor. Notwithstanding the foregoing, if on any Default Recognition Date the sum of the amount of Available Series 1998-3 Finance Charge Collections (including, all amounts on deposit in the Payment Reserve Account) and Transferor Retained Finance Charge Collections is less than the Series Default Amount for such Default Recognition Date, the Servicer shall apply amounts deposited in the Accumulation Period Reserve Account pursuant to subsection 4.9(a)(xi) of the Agreement and the Spread Account pursuant to subsection 4.9(a)(viii) of the Agreement during the then current Monthly Period in accordance with subsection 4.9(a)(iii) of the Agreement to the extent of such shortfall.