Throughput Fees at the Rail Offloading Facility Sample Clauses

Throughput Fees at the Rail Offloading Facility. (i) The throughput fee initially applicable to throughput of Light Crude at the Rail Offloading Facility shall be $1.00 per barrel (the “Light Crude Throughput Fee”) and the throughput fee initially applicable to throughput of Heavy Crude at the Rail Offloading Facility shall be $2.25 per barrel (the “Heavy Crude Throughput Fee” and, together with the Light Crude Throughput Fee, the “Throughput Fees”). (ii) In accordance with Section 2(f), XXXX shall pay Logistics an amount equal to (A) the Light Crude Throughput Fee multiplied by the Actual Light Crude Throughput plus (B) the Heavy Crude Throughput Fee multiplied by the Actual Heavy Crude Throughput (the sum of such Throughput Fees for all Months in a Contract Quarter, the “Actual Quarterly Throughput Payment”); provided, however, that the Actual Quarterly - 8 - Throughput Payment shall be not less than $1,482,813 initially (prorated for any partial Contract Quarter) (the “Minimum Quarterly Throughput Payment”), which amount was calculated based on the basis of assumed throughput equal to (1) the Minimum Throughput Volume multiplied by (x) the applicable Throughput Fees and (y) 365 days, divided by (2) four. (iii) The Throughput Fees shall be adjusted on July 1 of each Contract Year commencing on July 1, 2015, by an amount equal to the increase or decrease, if any, in the Inflation Index; provided, however, that the Throughput Fees shall not be decreased below the initial Throughput Fees provided in this Section 2(c). If the PPI is no longer published, Logistics and XXXX shall negotiate in good faith to agree upon a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Throughput Fees. If XXXX and Logistics are unable to agree upon a new index, the new index will be determined by arbitration in accordance with Section 17(l) and the same method of adjustment for increases in the new index shall be used to calculate increases in the Throughput Fees. After any adjustment to the Throughput Fees pursuant to this Section 2(c)(iii), the Minimum Quarterly Throughput Payment shall be recalculated as provided in Section 2(c)(ii) on such redetermination dates based on such adjusted Throughput Fees. (iv) During the Term of this Agreement, if new laws or regulations are enacted that require Logistics to make substantial and unanticipated capital expenditures with respect to the ...
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Related to Throughput Fees at the Rail Offloading Facility

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