Shortfall Payments. If, during any Contract Quarter, the Company throughputs aggregate volumes less than the Minimum Throughput Commitment, as adjusted pursuant to Section 6.2, for such Contract Quarter (a “Shortfall”), then (in addition to Terminaling Service Fee) the Company shall pay the Operator an amount (a “Shortfall Payment”) equal to the Terminaling Service Fee multiplied by the difference between (a) the Minimum Throughput Commitment and (b) the volume of Products actually delivered to the Terminal by the Company during the applicable Contract Quarter. The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Throughput Commitment and the payment by the Company of the Shortfall Payment shall relieve the Company of any obligation to meet such Minimum Throughput Commitment for the relevant Contract Quarter. The Parties further acknowledge and agree that there shall not be any carry-over of volumes in excess of the Minimum Throughput Commitment to any subsequent Contract Quarter.
Shortfall Payments. “Minimum Throughput Commitment” means the aggregate Stipulated Volume (on a Monthly average basis) in bpd as set forth for all Terminals on Schedule A attached hereto; provided however, that the Minimum Throughput Commitment during the Month in which the Commencement Date occurs shall be prorated in accordance with the ratio of the number of days including and following the Commencement Date in such Month to the total number of days in such Month. If during any Month during the Term, TRMC throughputs aggregate volumes greater than the Minimum Throughput Commitment, then TRMC shall pay TLO an amount equal to the weighted average of the amounts for each Terminal the volumes throughput by TRMC in excess of the Stipulated Volume for such Terminal multiplied by the Terminalling Service Fee paid by TRMC for that Terminal (the “Excess Amount”). If, during any Month during the Term, TRMC throughputs aggregate volumes less than the Minimum Throughput Commitment for such Month, then TRMC shall pay TLO an amount (a “Shortfall Payment”) for any shortfall. Shortfall Payments shall be equal to the weighted average of the amounts for each Terminal of the Terminalling Service Fee paid by TRMC during that Month and the monthly shortfall at that Terminal. The dollar amount of any Shortfall Payment paid by TRMC shall be posted as a credit to TRMC’s account and may be applied against any Excess Amounts owed by TRMC during any of the succeeding three (3) Months. For informational purposes only, attached as Exhibit 2 hereto is a sample calculation demonstrating the Shortfall Payment and its application. Credits will be applied in the order in which such credits accrue and any remaining portion of the credit that is not used by TRMC during the succeeding three (3) Months shall expire (e.g., a credit that accrues in January will be available in February, March and April, will expire at the end of April, and must be applied prior to applying any credit which accrues in February).
Shortfall Payments. If, during any Month during the Term, Customer throughputs aggregate volumes less than a Minimum Throughput Commitment for such Month, then Customer shall pay TLO an amount (a “Shortfall Payment”) for any shortfall. Shortfall Payments shall be equal to the amount determined by taking the difference between (i) the applicable Minimum Throughput Commitment multiplied by the Terminal Service Fee and (ii) the applicable actual volumes throughput by Customer multiplied by the Terminal Service Fee. The dollar amount of any Shortfall Payment paid by Customer shall be posted as a credit to Customer’s account and may be applied against any Excess Amounts owed by Customer during any of the succeeding three (3) Months. Credits will be applied in the order in which such credits accrue and any remaining portion of the credit that is not used by Customer during the succeeding three (3) Months shall expire (e.g., a credit that accrues in January will be available in February, March and April, will expire at the end of April, and must be applied prior to applying any credit which accrues in February).
Shortfall Payments. If, during any Month during the Term, Customer throughputs aggregate volumes at a Terminal less than the Terminal Minimum Throughput Commitment for the particular Terminal for such Month, then Customer shall pay TLO an amount (a “Shortfall Payment”) for any shortfall. Shortfall Payments shall be equal to the amount determined by taking the difference between (i) the Terminal Minimum Throughput Commitment for the particular Terminal multiplied by the Terminalling Service Fee for the particular Terminal and (ii) the actual volumes throughput by Customer at the particular Terminal multiplied by the Terminalling Service Fee for the particular Terminal. The dollar amount of any Shortfall Payment paid by Customer shall be posted as a credit to Customer’s account and may be applied against any Terminal Excess Amounts owed by Customer during any of the succeeding three (3) Months. Credits will be applied in the order in which such credits accrue and any remaining portion of the credit that is not used by Customer during the succeeding three (3) Months shall expire (e.g., a credit that accrues in January will be available in February, March and April, will expire at the end of April, and must be applied prior to applying any credit which accrues in February).
Shortfall Payments. If, during any Month during the Term, Customer throughputs aggregate rail volumes at the respective Terminal that are less than the Rail Minimum Commitment for such Month, then Customer shall pay Provider an amount (a “Rail Shortfall Payment”) for any shortfall. Rail Shortfall Payments shall be equal to the amount determined by taking the difference between (i) the Rail Minimum Commitment multiplied by the Rail Loading Services Fee and (ii) the actual rail volumes throughput by Customer at the respective Terminal multiplied by the Rail Loading Services Fee. The dollar amount of any Rail Shortfall Payment paid by Customer shall be posted as a credit to Customer’s account and may be applied against any Rail Excess Amounts owed by Customer during any of the succeeding three (3) Months. Credits will be applied in the order in which such credits accrue and any remaining portion of the credit that is not used by Customer during the succeeding three (3) Months shall expire (e.g., a credit that accrues in January will be available in February, March and April, will expire at the end of April, and must be applied prior to applying any credit which accrues in February).
Shortfall Payments. (a) If, during any Contract Quarter during the Term, Delek Refining makes less than the Minimum Volume Commitment available to Delek Marketing, Delek Refining shall pay Delek Marketing an amount for such shortfall (a “Shortfall Payment”), if any, equal to the Services Base Fee multiplied by the difference between (i) the Minimum Volume Commitment and (ii) the aggregate volume of Refinery Products sold by Delek Refining during the applicable Contract Quarter. The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Volume Commitment and the payment by Delek Refining of the Shortfall Payment shall relieve Delek Refining of any obligation to meet such Minimum Volume Commitment for the relevant Contract Quarter. The Parties further acknowledge and agree that there shall not be any carry-over of volumes in excess of the Minimum Volume Commitment to any subsequent Contract Quarter.
(b) If refining operations at the Refinery are suspended for any reason (including refinery turnaround operations and other scheduled maintenance), then Delek Refining shall remain liable for Shortfall Payments and the Services Profit Share under this Agreement for the duration of the suspension, unless and until this Agreement is terminated as provided in Section 3.2. Delek Refining shall provide at least thirty (30) days’ prior written notice of any suspension of operations at the Refinery due to a planned turnaround or scheduled maintenance, provided that Delek Refining shall not have any liability for any failure to notify, or delay in notifying, Delek Marketing of any such suspension except to the extent Delek Marketing has been materially damaged by such failure or delay.
Shortfall Payments. If on any Shortfall Date (as defined in the Standby Purchase Agreement) Softbank ECH fails to make a Shortfall Payment (as defined in the Standby Purchase Agreement) when due for any reason, then Softbank shall make such Shortfall Payment in accordance with Section 3 of the Standby Purchase Agreement by paying, within two (2) business days of such Shortfall Date, the Shortfall Payment amount otherwise required to be paid by Softbank ECH in accordance with the Standby Purchase Agreement with respect to the Revenue Commitment (as defined in the Standby Purchase Agreement) in question.
Shortfall Payments. The rates for Shortfall Payments shall be as follows:
(i) The River Shortfall Payment for all of 2009 shall be $[...***...] per Ton. For 2010-2014, the River Shortfall Payment shall be increased or reduced in accordance with the adjustment provisions set forth in Attachment J.
(ii) The Terminaling Shortfall Payment for all of 2009 shall be $[...***...] per Ton. For 2010-2014, the Terminaling Shortfall Payment shall be increased or reduced in accordance with the adjustment provisions set forth in Attachment J.
(iii) The Ocean Shortfall Payment for all of 2009 shall be $[...***...] per Ton. For 2010-2014, the Ocean Shortfall Payment shall be increased or reduced in accordance with the adjustment provisions set forth in Attachment J. United’s right to Shortfall Payments under this paragraph shall be United’s sole and exclusive remedy for Tampa Electric’s failure to provide to United the quantity of Cargo set forth in Section 2.2.1.
Shortfall Payments. If, for any Contract Quarter, Actual Shipments for such Contract Quarter on any Pipeline, the Rail Racks, the Product Racks, or at the Xxxxxx Terminal are less than the applicable Minimum Throughput Commitment, then Customer shall pay Owner an amount (a “Shortfall Payment”) equal to the difference between (a) the applicable Minimum Throughput Commitment multiplied by the applicable Throughput Fee and (b) the aggregate Throughput Fees for such Contract Quarter payable for Actual Shipments with respect to the Pipelines, the Rail Racks, the Product Racks, or the Xxxxxx Terminal, as applicable. For purposes of calculating the Shortfall Payment with respect to any Pipeline, all Actual Shipments on any other Pipeline (or on the Rail Racks, the Product Racks, or the Xxxxxx Terminal, as applicable) for such Contract Quarter shall be disregarded. The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the applicable Minimum Throughput Commitments and the payment of the Shortfall Payment shall relieve Customer of any obligation to meet such Minimum Throughput Commitments for the relevant Contract Quarter. The Parties further acknowledge and agree that there shall not be any carry-over of volumes in excess of the Minimum Throughput Commitments to any subsequent Contract Quarter.
Shortfall Payments. If, during any Contract Quarter of a calendar year, the Company throughputs aggregate volumes less than the Minimum Throughput Commitment, as adjusted pursuant to Section 6.2, for such Contract Quarter (a “Shortfall”), then (in addition to Terminaling Service Fee) the Company shall, subject to the next sentence, pay the Operator an amount (a “Shortfall Payment”) equal to the Terminaling Service Fee multiplied by the difference between (a) the Minimum Throughput Commitment and (b) the volume of Products actually delivered to the Terminal by the Company during the applicable Contract Quarter. The Company will be only obligated to pay Operator a Shortfall Payment for the Contract Quarter to the extent that (A) (i) the aggregate year-to-date Shortfall Payments in such calendar year (the “Double Loop Aggregate Shortfall Payment”), plus (ii) the aggregate year-to-date West Ladder Rack Shortfall Payments (as defined in the West Ladder Rack Agreement) in such calendar year (the “West Ladder Aggregate Shortfall Payments”, and together with the Double Loop Shortfall Payments, collectively, the “Aggregate Shortfall Payment”) exceeds (B) the sum of (i) the aggregate year-to-date Excess Throughput in such calendar year under this Agreement multiplied by the Excess Throughput Fee (the “Double Loop Aggregate Excess Throughput Fees”), plus (ii) the aggregate year-to-date Excess Throughput in such calendar year under the West Ladder Agreement multiplied by the West Ladder Excess Throughput Fee (the “West Ladder Aggregate Excess Throughput Fees”, and together with the Double Loop Aggregate Excess Throughput Fees, collectively, the “Aggregate Excess Throughput Fees”). By way of example (and assuming for the sake of simplicity Contract Quarters of 90 days), if in the first Contract Quarter of 2018 (x) a Shortfall Payment is due under this Agreement in the amount of $154,800 ($1.72 multiplied by 1,000 barrels per day multiplied by 90 days) and (y) during such quarter the Company has paid under the West Ladder Agreement Aggregate Excess Throughput Fees of $225,000 ($0.25 multiplied by 10,000 barrels per day multiplied by 90 days), the Company shall not be obligated to make a Shortfall Payment under this Agreement (with a credit of $70,200 carrying forward to be applied in the event of a Shortfall payment becoming due in the subsequent Contract Quarters). If, in the second Contract Quarter of 2018, (x) the Double Loop Aggregate Shortfall Payment is $309,600 ($1.72 multiplied by ...
