Throughput Commitment Sample Clauses

Throughput Commitment. Subject to Article 2, the Applicable Refinery Owner commits to deliver to HEP Operating at the location of each Applicable Asset the Minimum Throughput Commitment of Feedstock for each Contract Quarter, and pay the Tolling Fees in exchange for HEP Operating providing the services necessary to process the Feedstock into the Products.
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Throughput Commitment. For each Calendar Quarter during the Term, Customer shall tender or cause to be tendered an average of at least 150,000 Barrels per Day of Product to the Terminal (which shall include any Product delivered through the TransCanada Connection as set forth in Section 8(b) below) for storage and handling and redelivery to Customer in approximately ratable quantities (such average, the “Minimum Quarterly Terminal Commitment”) and Company shall accept, store and redeliver such Product in accordance with the terms of this Schedule. Except as expressly provided in the Agreement in connection with an Outage, a Company Force Majeure, or a Customer Force Majeure, if during any Calendar Quarter, Customer fails to satisfy its Minimum Quarterly Terminal Commitment during such Calendar Quarter, then Customer will pay Company a deficiency payment (each, a “Terminal Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Terminal Deficiency Volume”) multiplied by the Terminal Throughput Charge. Customer shall pay Company the amount of such Terminal Deficiency Payment along with any Terminal Throughput Charge payable hereunder. The dollar amount of any Terminal Deficiency Payment paid by Customer may be applied as a credit against any amounts incurred by Customer and owed to Company with respect to volumes of Product delivered to the Terminal in excess of Customer’s Minimum Quarterly Terminal Commitment (or, if this Schedule expires or is terminated, to volumes delivered to the Terminal in excess of the applicable Minimum Quarterly Terminal Commitment in effect as of the date of such expiration or termination) (such excess volume in any Calendar Quarter during the Term is referred to as the “Terminal Surplus Volume”) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 8(a) shall survive the expiration or termination of this Schedule, if necessary for the application of any Terminal Deficiency Payment against any Terminal Surplus Volume as set forth herein. Company shall provide throughput capacity at the Terminal to Customer in excess of the Minimum Quarterly Terminal Commitment on an “as available” basis, and any use of such excess capacity shall be subject to the applicable Terminal Throughput Charge.
Throughput Commitment. Subject to the terms and conditions of this Agreement, Customer agrees that each day during the Term it will tender for shipment through the Connecting Pipeline from the Origin Point to the Delivery Point, or pay a Deficiency Payment for failure to tender, the Minimum Volume Commitment.
Throughput Commitment. Should there be a throughput commitment set forth in the terms of any Individual Transaction Confirmation under this Agreement and if the Actual Throughput (as defined below) for any applicable Contract Year is less than the Total Volume Throughput Commitment for such Contract Year as set forth in the applicable Individual Transaction Confirmation, Shipper shall pay to Gatherer a True-Up Payment (as defined below) for such Contract Year in accordance with the following. The actual throughput ("Actual Throughput") for any Contract Year(s) shall be the cumulative sum of the total volume throughput of Gas delivered by Shipper and received by Gatherer for gathering hereunder that flowed during said Contract Year plus the cumulative total of Shipper volumes that flowed during the preceding Contract Year that was in excess of the Total Volume Throughput Commitment for that Contract Year. The Total Volume Throughput Commitment ("Total Volume Throughput Commitment") shall be as set forth in the applicable Individual Transaction Confirmation.
Throughput Commitment. Subject to Section 4.2, during the Term, Customer shall deliver to Refiner for refining in the CC Unit an average over each Semi- Annual Period of at least 10,000 B/CD of Gas Oil (the “CC Commitment”). If Customer is not then in default under this Agreement, Customer shall have the first right to use any Excess Capacity in the CC Unit, and may exercise this right by indicating in its Monthly Plan which is provided to Refiner under Section 6.1 the amount of Excess Capacity in the CC Unit that it elects to use in the following Month. The maximum Capacity of the CC Unit for delivered Gas Oil is currently 11,500 B/CD. To the extent Customer does not elect to use Excess Capacity in the CC Unit pursuant to this Agreement, Refiner shall have the right to use such Excess Capacity to refine for itself or third parties. In addition, Refiner shall have the right to enter into contractual commitments of a duration of not more than six months with any third party with respect to Excess Capacity (a “Third Party Agreement”) in the CC Unit (i) with Customer’s consent or (ii) if Customer has failed to pay for the CC Commitment for the previous six consecutive months (excluding failures due to a Force Majeure at the Refinery). To the extent Customer has elected to use some but not all of the Excess Capacity in the CC Unit, and there is insufficient Excess Capacity to satisfy all of Refinery’s commitments therefor, Customer and parties under a Third Party Agreement will receive Excess Capacity on a pro rata basis in proportion to the respective amounts of Excess Capacity to which they are entitled. Any use of Capacity in the CC Unit for Refiner’s own account or for third parties shall be coordinated with Customer so as not to materially interfere with Customer’s right to use Capacity in the CC Unit.

Related to Throughput Commitment

  • Time Commitment The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.

  • Minimum Commitment If for a certain Service a minimum commitment has been determined in the Agreement, the Customer guarantees to respect the minimum commitment described in the Agreement during the entire period of the Agreement. If the Customer does not respect this minimum commitment, the Customer shall pay the compensation mentioned in the Agreement. If no compensation has been mentioned in the Agreement, the Customer has to pay the applicable Charges for the respective Service, or the average of the applicable Charges if different Charges are applied for the respective Service, per missing number of its minimum commitment. Services that are timely cancelled by the Customer or Services for which the Customer has paid a cancellation fee , do not, even not partly, release the Customer from its obligation to respect the minimum commitment . Services cancelled as due to Force Majeure and Services cancelled by Lineas for other reasons than Force Majeure, will be considered as a Services ordered and paid for by the Customer. Services cancelled by the Customer or by Lineas because of holidays do not, even not partly, release the Customer from its obligation to respect its minimum commitment.

  • Available Commitment After giving effect to the proposed Borrowing, the Principal Obligations will not exceed the Available Commitment and the aggregate Principal Obligations will not exceed the Maximum Commitment.

  • Revolving Commitment Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.

  • Reduction of Total Commitment The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.

  • L/C Commitment (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.4(a), agrees to issue Letters of Credit upon the request and for the account of the Borrower (and for the benefit of the Borrower or any Subsidiary of the Borrower) on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall issue any Letter of Credit if, (i) after giving effect to such issuance, (A) the L/C Exposure would exceed the L/C Commitment or (B) the aggregate amount of the Available Revolving Commitments would be less than zero or (C) unless otherwise agreed to by such Issuing Lender, the L/C Exposure with respect to all Letters of Credit issued by such Issuing Lender would exceed such Issuing Lender’s Specified L/C Commitment or (ii) such Issuing Lender shall have received written notice from the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 5.2 shall not have been satisfied. On the Restatement Effective Date, each Existing Letter of Credit shall be deemed to be a Letter of Credit issued hereunder for the account of the Borrower. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date (as it may be extended, so long as the Available Revolving Commitments of all Continuing Lenders would equal or exceed zero following such extension); provided, however, that any Letter of Credit, whether newly requested or an existing Letter of Credit that is extended or automatically renewed, may have an expiration date after the Revolving Termination Date (so long as such expiration date remains in compliance with clause (x) above) so long as the Borrower cash collateralizes such Letter of Credit at 101% of the available face amount of such Letter of Credit on or prior to the date which is five Business Days prior to the Revolving Termination Date and the Administrative Agent and the relevant Issuing Lender providing such Letter of Credit agree to such expiration date at the time such Letter of Credit or extension is requested or at the time such existing Letter of Credit is to be automatically renewed, as applicable; provided further that any Letter of Credit (other than a Letter of Credit to which Section 2.18(c)(ii) applies) with a one-year term may provide for the renewal thereof for additional one-year periods (which shall only extend beyond the date referred to in clause (y) above if the condition described in the first proviso of this sentence is satisfied).

  • Revolver Commitment for any Lender, its obligation to make Revolver Loans and to participate in LC Obligations up to the maximum principal amount shown on Schedule 1.1, or as hereafter determined pursuant to each Assignment and Acceptance to which it is a party. “Revolver Commitments” means the aggregate amount of such commitments of all Lenders.

  • Commitment Percentage With respect to each Lender, the percentage set forth on Schedule 1.1 hereto as such Lender’s percentage of the aggregate Commitments of all of the Lenders, as the same may be changed from time to time in accordance with the terms of this Agreement.

  • Reduction of Revolving Credit Commitment The Borrower shall have the right at any time after the Closing Date upon five (5) days’ prior written notice to the Administrative Agent to permanently reduce (ratably among the Lenders in proportion to their Ratable Shares) the Revolving Credit Commitments, in a minimum amount of $5,000,000 and whole multiples of $1,000,000, or to terminate completely the Revolving Credit Commitments, without penalty or premium except as hereinafter set forth; provided that any such reduction or termination shall be accompanied by prepayment of the Notes, together with outstanding Commitment Fees, and the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 5.10 [Indemnity] hereof) to the extent necessary to cause the aggregate Revolving Facility Usage after giving effect to such prepayments to be equal to or less than the Revolving Credit Commitments as so reduced or terminated. Any notice to reduce the Revolving Credit Commitments under this Section 2.11 shall be irrevocable.

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