Examples of Committed Purchase in a sentence
Unless otherwise agreed by the Parties, the Committed Purchase Quantities shall be delivered to SAWS in approximately equal quantities throughout each month.
After a Purchase Phase commences as to any Committed Purchase Quantity for the purpose of calculating fees, the Reserved Quantity shall be reduced by, and SAWS shall no longer pay the Aggregate Reservation Fee on, that Committed Purchase Quantity, but will instead, in accordance with this Section and the provisions of Article V, pay the Aggregate Committed Purchase Fee as to the Committed Purchase Quantity.
LCRA shall operate and maintain the Component Projects and the LCRA Transmission Facilities in good order and condition and to the extent reasonably practical, in a manner that will not interfere with the delivery of the Committed Purchase Quantity to SAWS.
To satisfy SAWS’ Committed Purchase Quantity, LCRA shall divert water at one or more Diversion Point(s) along the Colorado River downstream of Mansfield Dam, as determined under the Agreed Implementation Plan.
For purposes of this calculation, any Committed Purchase Quantity of water noticed for delivery but for which a Purchase Phase has not yet commenced pursuant to Section 2.6.C. shall be considered Reserved Quantity.
SAWS shall have an exclusive right to use all available capacity in the LCRA Transmission Facilities for delivering Committed Purchase Quantities from the Off-Channel Reservoirs to the Delivery Point(s) pursuant to this Definitive Agreement and for delivering any other water which SAWS enjoys a legal right to or ownership of (if such water delivery is consistent with a TWDB approved regional plan).
The Committed Purchase Fee on a particular Committed Purchase Quantity shall be equal to the product of the LCRA Stored Water Rate multiplied by one hundred ten percent (110%) of the Committed Purchase Quantity.
For each month, SAWS may, subject to the physical limitations of the SAWS Component Project(s) and the LCRA Transmission Facilities, schedule delivery of Committed Purchase Quantities in its discretion.
The "Aggregate Committed Purchase Fee" shall mean an amount equal to the sum of (i) the Committed Purchase Fee (which shall include a ten percent (10%) surcharge on the Stored Water Rate) plus (ii) the Construction Adjustment Surcharge, if any.
The LCRA Inverted Block Rate shall not apply to any excess water delivered to SAWS over and above SAWS’ Committed Purchase Quantity if SAWS receives such excess water due to LCRA’s own delivery error at the Delivery Point(s).