Actual Monthly Amount definition

Actual Monthly Amount has the meaning given to that term in Clause 27.1.2;

Actual Monthly Amount means an amount determined by multiplying the actual quantity of Product, in MCF, delivered to Buyer at the Delivery Point during the Month, by the Unit Price.

Actual Monthly Amount has the meaning given to that term in Clause 27.1.2; “Alternative Service Provider” has the meaning given to that term in Clause 5.3;

Examples of Actual Monthly Amount in a sentence

• For each Month that the Deficiency Credit is decreased, the Buyer’s Monthly invoice amount will be decreased by the amount that the Actual Monthly Amount is greater than the Minimum Monthly Amount or by the Deficiency Credit balance, whichever is less.

• After a Deficiency Credit balance has been established, the Deficiency Credit balance will be increased each Month by the amount that the Actual Monthly Amount is less than the Minimum Monthly Amount or will be decreased each Month by the amount that the Actual Monthly Amount is greater than the Minimum Monthly Amount.

• When the Actual Monthly Amount is less than the Minimum Monthly Amount, the difference between the Minimum Monthly Amount and the Actual Monthly Amount will be credited to Buyer as a “Deficiency Credit”.

• If a Service Provider commits a breach of Framework KPI number 1 it shall be suspended from participating in the Award Process until such time as the Service Provider has shared details of the Actual Monthly Amount for 3 consecutive months.

More Definitions of Actual Monthly Amount

Actual Monthly Amount means an amount determined by multiplying the actual quantity of Product, in Mcf, delivered to Buyer at the Delivery Point during the Month, by the Unit Price for such Month; provided, however, that if Buyer fails to take 25MMcf on any Day during such Month, the Actual Monthly Amount shall be the sum of the Unit Price multiplied by (i) plus the Unit Price multiplied by (ii), where (i) is the actual quantity of Product delivered to Buyer for each Day during the Month on which Buyer was delivered 25 MMcf or more, and (ii) is 25 MMcf for each Day during the Month on which Buyer was delivered less than 25 MMcf.