Examples of Contract Quarters in a sentence
If either Party is unable to conduct a business review within fifteen (15) calendar days after the conclusion of the above referenced Contract Quarters, it shall notify the other Party in writing (i.e. email or mail) of that fact and propose a date as soon as practicable thereafter.
Subsequent Contract Quarters are set equal to the subsequent Calendar Quarters.
If either Party is unable to conduct a business review within thirty (30) calendar days after the conclusion of the above referenced Contract Quarters, it shall notify the other Party in writing (i.e. email or mail) of that fact and propose a date as soon as practicable thereafter.
Any payment received by Carrier from a Committed Shipper in a Contract Quarter for shipments of Crude Petroleum delivered into the Carrier’s facilities at an Origination Station for shipment to the Destination in excess of the Committed Shipper’s MQP will serve as a credit, on a dollar-for-dollar basis, against any Deficiency Payments due from Committed Shipper with respect to the twelve (12) Contract Quarters immediately following the Contract Quarter with respect to which such payment was paid.
Any Deficiency Payment made will be credited as prepaid transportation, on a dollar-for-dollar basis, toward the Committed Shipper’s payment obligations for its deliveries made during the twelve (12) Contract Quarters immediately following the Contract Quarter with respect to which the Deficiency Payment was paid.
Provided, however, for the first Contract Year of service under its Rate Schedule FT-2 Service Agreement Shipper's Throughput Commitment shall be equal to eighty-five percent (85%) of the sum of the product of the MDTQs for the third and fourth Contract Quarters multiplied by the number of Days in each respective Contract Quarter.
This Section 7.2 shall not apply during the first and second Contract Quarters of the first Contract Year of service under Shipper's Rate Schedule FT-2 Service Agreement.
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At the end of the first four (4) Contract Quarters during the Applicable Term, HEP Operating shall determine its aggregate capital expenditures relating to the construction and start-up of the Applicable Asset (“CAPEX”).
In the event that a Deficiency Payment is made, the Committed Shipper will be credited for prepaid transportation, on a dollar-for-dollar basis, toward the Committed Shipper’s payment obligations for its deliveries made during the twelve (12) Contract Quarters immediately following the Contract Quarter with respect to which the Deficiency Payment was paid.