Take or Pay Sample Clauses

Take or Pay. To Seller’s knowledge, Seller is not obligated, under a take-or-pay or similar arrangement, to allow its share of the Hydrocarbons to be sold, without receiving full payments at the time of delivery in an amount that corresponds to its net revenue interest in the Hydrocarbons attributable to any Lease or Well described in Exhibits “A” or “B” (other than with regard to certain obligations relative to Assumed Imbalances or Pipeline Imbalances, as contemplated under Sections 13.5 and 13.6, respectively).

Take or Pay. In the event Lessee enters into a Mineral purchase contract which contains what is commonly referred to as a”take or pay provision” (such provision meaning that the Mineral purchaser agrees to take delivery of a specified minimum volume or quantity of Minerals over a specified term at a specified price or to make minimum periodic payments to the producer for Minerals not taken by the purchaser) and the purchaser under such Mineral purchase contract makes payment to Lessee by virtue of such purchaser’s failure to take delivery of such minimum volume or quantity of Minerals, then Lessor shall be entitled to the Royalty Percentage of all such sums paid to Lessee or producer under the “pay” provisions of such Mineral purchase contract. Such royalty payments shall be due and owing to Lessor within sixty (60) days after the receipt of such payments by Lessee. Any royalty payments made to Lessor under the “pay” obligation of any “take or pay” Mineral contract shall be applied as a credit toward Lessee’s minimum royalty obligation. If the Mineral purchaser “makes up” such Minerals within the period called for in the Mineral contract and Lessee is required to give such purchaser a credit for Minerals previously paid for but not taken, then Lessor shall not be entitled to royalty on such “makeup” Minerals. If Lessee is not producing any quantities of Minerals from the Leased Premises or lands pooled therewith but is receiving payments under the “pay” portion of such “take or pay” Mineral purchase contract provision, such payments shall not relieve Lessee of the duty to make shut-in royalty payments if Lessee desires to continue this Lease, but such “take or pay” royalty payments shall be applied as a credit against any shut-in royalty obligation of the Lessee. Lessor shall be a third-party beneficiary of any Mineral purchase contract and/or transportation agreement entered into between Lessee and any purchaser and/or transporter of Lessor’s Minerals, irrespective of any provision of said contracts to the contrary, and such Mineral purchase contract and/or transportation agreement will expressly so provide. Further, Lessor shall be entitled to the Royalty Percentage of the value of any benefits obtained by or granted to Lessee from any Mineral purchaser and/or transporter for the amendment, modification, extension, alteration, consolidation, transfer, cancellation or settlement of any Mineral purchase contract and/or transportation agreement.

Take or Pay. 9.3.1 In respect of each Contract Year the amount of the Minimum Xxxx Quantity which has not been taken by the Buyer in such Contract Year under this Agreement shall be known as the “Annual Take or Pay Quantity” for such Contract Year. 9.3.2 In respect of any Contract Year for which there arises an Annual Take or Pay Quantity, such quantity shall be reduced by a quantity of Carry Forward Aggregate not exceeding a maximum amount of [***] of the applicable ACQ and: (a) any remaining amount of such Annual Take or Pay Quantity shall be known as the “Net Annual TOP Quantity”; and (b) such use of Carry Forward Aggregate shall be deemed to be a recovery of Carry Forward Aggregate by the Buyer to the extent of such use and the outstanding balance (if any) of Carry Forward Aggregate shall be reduced commensurately. 9.3.3 In respect of any Contract Year for which there arises a Net Annual TOP Quantity, the Buyer shall make payment to the Sellers at the volume weighted arithmetic average price for the relevant Contract Year for any such Net Annual TOP Quantity. 9.3.4 The Net Annual TOP Quantity in respect of such Contract Year together with the Net Annual TOP Quantity in respect of the [***] previous Contract Years not already recovered pursuant to the provisions of Article 9.4 shall be known as “Make-Up Aggregate”.

Take or Pay. (a) If Intel fails to purchase all Binding Forecast Wafers, Intel still shall be obligated to pay the Price for the Binding Forecast Wafers it fails to purchase. (b) If Intel fails to provide a Demand Forecast that satisfies the Minimum Commitment in any period, Intel shall be obligated to pay the Price for the balance of the Minimum Commitment not purchased by Intel (“Foregone Wafers”).

Take or Pay. (a) Subject to Section 3.l(e), to the extent that Intel fails to purchase any Binding Forecast Wafers, Intel shall be obligated to pay Micron an amount equal to the sum of the Binding Forecast Wafers it fails to purchase multiplied by the applicable Final Price per Binding Forecast Wafer as set forth in Schedule 1. (b) To the extent that Intel fails to forecast, subject to Section 3.1(b), a quantity of Qualified Probed Wafers sufficient to meet the Qualified Probed Wafer Commitment in the Ramp Period or any Order Year (the “Foregone Wafer(s)”), Intel shall be obligated to pay Micron the sum of the difference between the Qualified Probed Wafer Commitment for the Ramp Period or Order Year less the quantity set forth in the Qualified Probed Wafer Demand Forecast for the Ramp Period or that Order Year, multiplied by the applicable Final Price per Foregone Wafer as set forth in Schedule 1.

Take or Pay. Seller is not obligated, by virtue of a prepayment arrangement, a “take-or-pay” or other prepayment arrangement, a production payment, or any other arrangement, to deliver any volume of Hydrocarbons, or permit any other person to take any volume of Hydrocarbons produced from or attributable to the Xxxxx or Leases at some future time without then or thereafter receiving full payment therefor.

Take or Pay. 6.1.1 Seller shall deliver and the Buyer shall receive e-Bid RLNG in accordance with this Agreement and the terms as may be set out in the eSPN. Seller and Buyer are aware that e-Bid RLNG under 6.1.2 In respect of the Supply Period under the relevant eSPN, the Buyer shall be obliged to take and pay for or pay for if not taken, a quantity of e-Bid RLNG (expressed and measured in MMBTU) equal to the Take or Pay Quantity. 6.1.3 The “Take or Pay Quantity” in respect of an eSPN shall equal the Contract Quantity (CQ) under such eSPN minus: A. The aggregate of all quantities of e-Bid RLNG that the Buyer refuses to take delivery of/rejects, owing to such quantities not meeting the Specification, during the Supply Period under eSPN; and B. The aggregate of lower of PNDCQ or DCQ of e-Bid RLNG (except as may be included in this Article above, or part thereof), that the Seller could not tender for delivery at the Delivery Point during the Supply Period under such eSPN for reasons other than which are attributable to the actions of the Buyer or due to Force Majeure; and C. The aggregate of all quantities of e-Bid RLNG that the Buyer could not take delivery of at the Delivery Point during the Supply Period under such eSPN due to Force Majeure.

Take or Pay. Seller is not obligated, under a take-or-pay or similar arrangement to produce hydrocarbons, or allow hydrocarbons to be produced, without receiving full payment at the time of delivery in an amount that corresponds to the Net Revenue Interest (as defined in Annex I) in the hydrocarbons attributable to an Oil and Gas Property.

Take or Pay. The purchase of the Committed Quantity is a “take or pay” obligation on the part of the Buyer such that Buyer is absolutely and irrevocably required to accept and pay for the Committed Quantity over the period at the price set forth in Clause 4.2. In the event that Buyer fails to take any or all shipments of delivery of its Committed Quantity in a given year, Seller shall invoice Buyer at the end of the year the ****% of the yearly total committed amount. Buyer shall pay the difference within **** days immediately after the invoice date. Payment of such amount shall be deemed to be liquidated damages for Buyer’s breach of its obligation to purchase the Committed Quantity.

Take or Pay. Pursuant to the Take or Pay Commitment, Glencore will purchase all Aluminum in billet form (“Billet”) produced at the Century North America Facilities during the 2015 and 2016 Contract Years.