VOLUME OBLIGATION Sample Clauses

VOLUME OBLIGATION. Commencing on the date that Seller notifies Buyer in writing that Seller is prepared, pursuant to the terms of this Delivered Gas Purchase Contract, to deliver gas to Buyer at the discharge side of Seller's plant and facilities located in the NW1/4 NW1/4 NE1/4 of Section 34, Township 34 North, Range 2 West, Toole County, Montana, (Delivery Point), the volume of gas which Buyer shall be obligated to take and pay for, or pay for if available and not taken, and which Seller shall be obligated to have available for delivery, shall be the Daily Contract Quantity (DCQ). Until such time as Seller has available for delivery to Buyer in excess of ten million (10,000,000) cubic feet of gas per day, the DCQ shall be eighty percent (80%) of the daily volume available for delivery by Seller, whether or not taken by Buyer. However, at such time as the DCQ so computed equals or exceeds eight million (8,000,000) cubic feet per day, the DCQ shall be one million (1,000,000) cubic feet per day for each five billion five hundred million (5,500,000,000) cubic feet of Recoverable Gas Reserves as defined herein. The parties have agreed that, at the date of inception of Buyer's obligation to take or pay for gas under the terms of this Contract, and until initial delivery of gas to Buyer, the DCQ shall equal one million two hundred thousand (1,200,000) cubic feet of gas per day.
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VOLUME OBLIGATION. Commencing with the initial delivery of gas hereunder, the volume of gas which Buyer shall be obligated to take and pay for, or pay for if available and not taken, shall be the daily contract quantity (DCQ). The DCQ shall equal one million (1,000,000) cubic feet for each 7.3 Bcf (7,300,000,000 cubic feet) of recoverable gas reserves, with a minimum DCQ of two million (2,000,000) cubic feet per day, subject to Seller having available for delivery 150 percent of the DCQ.
Sample 1

Related to VOLUME OBLIGATION

  • One Obligation The Loans, LC Obligations and other Obligations shall constitute one general obligation of Borrowers and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s Lien upon all Collateral; provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

  • Performance Obligation 11.1 Interconnection Customer's Interconnection Facilities 11.2 Participating TO's Interconnection Facilities 11.3 Network Upgrades and Distribution Upgrades

  • MAXIMUM OBLIGATION A. The Total Maximum Obligation of County for services provided in accordance with this Contract, and the separate Maximum Obligations for each period under this Contract, are as specified in the Referenced Contract Provisions of this Contract, except as allowed for in Subparagraph B. below. B. Administrator may amend the Maximum Obligation by an amount not to exceed ten percent (10%) of Period One funding for this Contract.

  • Purchase Obligation An obligation of the Company to repurchase Mortgage Loans under the circumstances and in the manner provided in Section 2.07 or Section 2.08.

  • Absolute Obligation Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Note at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company. This Note ranks pari passu with all other Notes now or hereafter issued under the terms set forth herein.

  • Performance Obligations The Purchaser shall have performed in all respects all obligations required to be performed by it under this Agreement at or prior to the Closing.

  • Valid Obligation Notes issued on the registration of transfer or exchange of Notes will be the valid obligations of the Issuer, evidencing the same debt, and have the same benefits under this Indenture as the Notes surrendered for registration of transfer or exchange.

  • Joint Obligation If there be more than one Tenant the obligations hereunder imposed upon Tenants shall be joint and several.

  • Insurance Obligation During the Term of this Master Contract, Contractor shall possess and maintain in full force and effect, at Contractor’s sole expense, the following insurance coverages:

  • Swap Obligations Neither the Company nor any of its Subsidiaries has incurred any outstanding obligations under any Swap Contracts, other than Permitted Swap Obligations. The Company has undertaken its own independent assessment of its consolidated assets, liabilities and commitments and has considered appropriate means of mitigating and managing risks associated with such matters and has not relied on any swap counterparty or any Affiliate of any swap counterparty in determining whether to enter into any Swap Contract.

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