Committed Volume definition

Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

Committed Volume means (i) with respect to a Priority Shipper that has committed to deliver a specified minimum volume of Crude Oil to the Gathering System pursuant to such Priority Shipper’s COGA, such specified minimum volume (expressed in Barrels per day), and (ii) with respect to a Priority Shipper that has not committed to deliver a specified minimum volume of Crude Oil, but has made an acreage dedication pursuant or volume commitment to such Priority Shipper’s COGA, a volume of Crude Oil (expressed in Barrels per day) equal to such Priority Shipper’s maximum daily quantity.

Committed Volume means the Barrel per day (“bpd”) quantity committed to by a Volume Commitment Shipper, in accordance with a TSA, multiplied by the number of days in the relevant month.

Examples of Committed Volume in a sentence

• Any remaining System Capacity not allocated through the application of Items 7(C) or 7(D) shall be allocated first, pro rata, among all Priority Shippers having remaining unmet Nominations according to the level of each Priority Shipper’s Monthly Committed Volume.

• In the event Gatherer curtails some, but not all, such Crude Oil in a particular month, Gatherer shall allocate the available System Capacity among Priority Shippers on a pro rata basis based on the proportion of a Priority Shipper’s Committed Volume to the total aggregate Committed Volumes of all Priority Shippers then, but in no event to exceed each Priority Shipper’s nominated amount.

• An Eligible Committed Shipper is a Shipper that has entered into a Transportation Services Agreement with Carrier for a Committed Volume of at least 5,000 Barrels per day for an initial term of at least 5 years at a Committed Rate.

• In the event Gatherer refuses to accept Barrels of Crude Oil Tendered by a Priority Shipper for transportation under this tariff or a COGA because such Shipper has been (i) in violation of this tariff, or (ii) in material breach of a COGA at the time the Barrels are Tendered to Gatherer, then no reduction shall be made to a deficiency payment if, as a result of such refusal, such Priority Shipper fails to ship its Monthly Committed Volume for such month.

• Committed Shipper’s Monthly Committed Volume, that has been transported or paid for as if transported, shall be included in the calculation of the Shipper’s Base Period transported volume for purposes of prorationing subsequent to the expiration of Shipper’s TSA.

More Definitions of Committed Volume

Committed Volume means the minimum volume of Product (stated in BPD) that a Committed Shipper has committed in its TSA to Nominate and ship on the Pipeline, or otherwise pay a Deficiency Payment for, each Day during a Month.

Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Light Condensate to be received by Carrier set out in Section 2.1 of the Committed Shipper's TSA in respect of the Cochin Pipeline.

Committed Volume means Shipper’s Barrels per day volume commitment set forth in its TSA;

Committed Volume means (i) with respect to a Priority Shipper that has committed to deliver a specified volume of Crude Oil to the Gathering System pursuant to such Priority Shipper’s COGA or pay a deficiency payment, such specified volume (expressed in Barrels per day), and

Committed Volume means that the Shipper shall ship, or otherwise pay for the shipment of Crude Oil from a receipt point to a delivery point on the Carrier’s system as specified in the Shipper’s Transportation Services Agreement.

Committed Volume as used herein means a minimum daily volume of Crude Petroleum that a Contract Shipper commits to ship pursuant to the terms of a Throughput Agreement for a minimum time period.

Committed Volume means the daily volume of Barrels of Crude Petroleum a Committed Shipper has agreed to ship, or make a Deficiency Payment for, on Carrier’s System during the term of the T&D and as set forth in such T&D.