Banked Gas Account definition

Banked Gas Account means an account used to track differences between the gas delivered by a direct purchase Customer and the measured consumption at the associated Point(s) of Consumption.
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Banked Gas Account means the account which captures the volumetric variances between deliveries by a gas vendor on behalf of a customer and actual consumption by that customer;
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Banked Gas Account has the meaning given to such term in Section 3.1 of this Agreement.
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Examples of Banked Gas Account in a sentence

  • Except as provided in Section 3.4, Subsections 4.2.1 and 4.2.2 and Section 7.7, at any particular time a Customer shall have title to, and only to, Gas Delivered in excess of the Gas Taken during the term of the relevant Pool to the extent of the Customer’s pro rata share of the credit balance, if any, at such time in the Banked Gas Account of the relevant Pool.

  • Title to any gas that reduces or eliminates the debit balance in the Banked Gas Account of the Customer shall pass from the Customer to the Company at the end of the day as of which such debit balance is so reduced or eliminated.

  • The projected February Banked Gas Account (BGA) balance should be greater than or equal to the February Checkpoint Quantity.

  • Except as aforesaid, at any particular time the Customer shall have title to, and only to, gas delivered by or for the Customer to the Point of Acceptance and not delivered to the Point of Delivery to the extent of the credit balance, if any, at such time in the Banked Gas Account of the Customer.

  • The Agent and each Customer acknowledge and agree that there shall be established for each Pool an account to record the volumes of Gas Delivered and Gas Taken in respect of such Pool (each, a “Banked Gas Account”), and that the receipt and delivery information of each of the various Customers who, and the various Terminal Location(s) which, are associated with the relevant Pool shall be aggregated for the purposes of determining the balance of the Banked Gas Account of such Pool.

  • The Banked Gas Account (BGA) will be used to accumulate the daily differences between the total quantities of gas received by CCK from the Customer, and the total quantities of gas redelivered by CCK to the Customer (and when applicable the Principal(s)).

  • In no event shall any Party be excused from any of its financial responsibilities or obligations under this Agreement, including in respect of any Banked Gas Account, or the settlement thereof.

  • The actual Banked Gas Account (BGA) balance at the end of each contract term should be as close to zero as possible.