Examples of Binding Nomination in a sentence
At 12:01 a.m. on the third business day following the notification to Shippers, this adjusted nomination shall be considered a Binding Nomination, or if a Shipper does not change or submit a reduced nomination, then its initial nomination shall be considered its Binding Nomination.
Upon notification to a Shipper by the Carrier that additional space has been allocated, the Shipper will have twenty-four hours to accept the additional space allocation by notifying the Carrier of the Shippers intent to accept that space and submitting an Allocated Binding Nomination for the additional space.
At 12:01am on the third business day following the day notification was made to Shippers, this adjusted Nomination shall be considered a Binding Nomination, or if a Shipper does not change or submit a reduced Nomination, then its initial Nomination shall be considered its Binding Nomination.
If a Shipper tenders less than eighty-five percent (85%) of its Binding Nomination, then Shipper shall be invoiced for its delivered volumes for that period, plus a charge equal to: [Eighty-five percent (85%) of Prorated Binding Nomination less The actual volumes delivered] times The applicable current tariff rate.
If a Shipper tenders a volume greater or equal to eighty-five percent (85%) of its Prorated Binding Nomination, then such a Shipper shall be invoiced based on its delivered volumes.