Carrier Force Majeure definition
Examples of Carrier Force Majeure in a sentence
Except as expressly provided in the Agreement for an Outage, a Carrier Force Majeure or a Shipper Force Majeure, if during any Calendar Quarter, Shipper fails to meet its Minimum Quarterly Commitment during such Calendar Quarter, then Shipper will pay Carrier a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Transportation Rate in effect for the relevant Calendar Quarter.
Except as expressly provided in the Agreement for an Outage, a Carrier Force Majeure or a Shipper Force Majeure, if during any Calendar Quarter, Shipper fails to meet its Minimum Quarterly Commitment during such Calendar Quarter, then Shipper will pay Carrier a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Tariff Rate in effect for the relevant Calendar Quarter.
Any Outage shall be treated in the same manner as a Carrier Force Majeure in accordance with Section 14.02.
Except as expressly provided in the Agreement for an Outage, a Carrier Force Majeure, or a Shipper Force Majeure, if during any Calendar Quarter, Shipper fails to meet its Minimum Quarterly Commitment during such Calendar Quarter, then Shipper will pay Carrier a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Tariff Rate in effect for the relevant Calendar Quarter.
The Minimum Quarterly Commitment during the period of the Carrier Force Majeure shall be ratably reduced to reflect the suspension.
If Shipper does not request a reduction in its Monthly Deficient Barrels and continues to make Deficiency Payments to Carrier during the period of Carrier Force Majeure, Shipper shall be entitled to the credit rights provided in Section 5(b) of this Agreement.
Fixed Tolls paid in respect of such Monthly Volumes not yet Delivered shall be accounted for by Carrier as a toll credit held on account in the name of the Shipper, and such toll credit shall only be applied against Fixed Tolls payable by the Shipper in respect of carry-over, Carrier Force Majeure Volumes or Make-up Volumes of Petroleum Delivered by the Carrier to the Shipper.
Commencing on the ninety-first (91st) continuous day and continuing until the Carrier Force Majeure Period ends, the obligation of Shipper to make Monthly Deficiency Payments under this Agreement shall be suspended in proportion to the percentage of Services that are not provided (the volumes for which Shipper's obligation to pay Monthly Deficiency Payments is suspended as aforesaid, the "Carrier Force Majeure Extended Volumes").
Shipper’s termination right under this Section 11.3 shall be subject to its compliance with Section 14.2 in connection with any certificates, approvals, authorizations and permits required by Carrier as a result of the event of Carrier Force Majeure.
The Shipper’s sole right during such extension period shall be to transport the Carrier Force Majeure Volumes at a daily volume equal to the Contract Volume.