Examples of Committed Firm Service in a sentence
Carrier shall have the right to interrupt Receipts and Deliveries of Shipper’s Crude Petroleum, including the right to curtail Receipts and Deliveries under Committed Firm Service pursuant to the terms of the TSAs, (i) for scheduled or unscheduled repairs, maintenance, modifications or improvements to the Joint Tariff Facilities, and/or (ii) by reason of a force majeure event.
Carrier shall have the right to interrupt Receipts and Deliveries of Shipper’s Crude Petroleum, including the right to curtail Receipts and Deliveries under [N] Committed Firm Service pursuant to the terms of the TSAs, (i) for scheduled or unscheduled repairs, maintenance, modifications or improvements to the Joint Tariff Facilities, and/or(ii) by reason of a force majeure event.
The volume elected by Committed Shippers to receive Committed Firm Service in accordance with Rule 27, up to each Committed Shipper’s Committed Volume or Shipper MDQ, as applicable, is exempt from the prorationing procedures set forth in this Rule 31 (“Exempt Volumes”).
The Committed Firm Service Rate paid by Committed Firm Shippers shall be a negotiated rate that is greater than the rate paid by Uncommitted Shippers (the “Uncommitted Rate”).
The rate for Committed Firm Capacity shall be the Committed Firm Service Rate set forth in the Rates Tariff and the TSA.
In any such preliminary allocation process, Committed Capacity will be allocated based upon a modified net present value (“NPV”) methodology.1 Under the modified NPV methodology, Dakota Midstream will allocate capacity first to bids for Committed Firm Service.
N] “ Upside Participation Fee” means a fee, payable by an Anchor Shipper under a Court-approved Assigned TSA, with respect to Committed Firm Service provided during any Month when the average price of West Texas Intermediate crude oil (“WTI”) as traded on the NewY ork Mercantile Exchange (“NYMEX”) and as listed by the U.S. Department of Interior Officeof Natural Resources Revenue (http://www.onrr.gov/Valuation/NYMEX.htm) for such Month (the “Average Crude Price”) exceeds (US) $55.00/barrel.
That precedent agreement was subsequently assigned to Dakota Connection and the contractual arrangements with the Anchor Shipper for Committed Firm Service on the Dakota Connection Pipeline at an agreed- upon rate were finalized.
The proposed Committed Firm Service Rates and respective minimum Committed Quantity are set forth in the table of Committed Service Rates below.
The tentatively proposed Committed Firm Service Rates and respective minimum Committed Quantity are set forth in the table of Committed Service Rates below.