Current Methodology definition
Examples of Current Methodology in a sentence
The difference in result between the Current Methodology and the Contended Methodology is reflected on Exhibit V as the "Method Difference of $19,147.80." Burlington has demanded that the Monthly Settlement for the remaining term of the Burlington Contract be changed to the Contended Methodology.
Buyer shall continue to pay the Monthly Settlement to Burlington utilizing the Current Methodology, for at least the two (2) months following the Closing (or for such shorter period of which Buyer is notified by Seller in writing).
Seller has been determining the amount of MMBTUs due to Burlington each month for Burlington's gas delivered to the System and, (ii) the associated gathering fees due to Seller each month for Burlington's gas delivered to the System (i and ii are collectively referred to as the "Monthly Settlement") by the method set forth in columns 1 through 4 and columns 12 through 26 of the Burlington Settlement Statement for September, 2003, attached hereto as Exhibit V (the "Current Methodology").
That report (Evaluation of Current Methodology to Determine Traffic Concurrency, MPO, Feb.
The intent of the parties is to reimburse Seller for the $900,000.00 Reduction to the extent Buyer is able to utilize the Current Methodology.
In the event Burlington does not agree prior to Closing that Monthly Settlement under the Burlington Contract shall continue to be calculated using the Current Methodology, the $900,000.00 Reduction shall remain in effect and the Purchase Price provided by Section 3.1 shall be effective as the Purchase Price to be paid at Closing.
Burlington contends that the adjustment provided by the Column 14 Correction of the Current Methodology results in an understatement of the amount of MMBTUs delivered and that the Monthly Settlement should be determined by the method set forth in columns 1 through 11 of the Burlington Settlement Statement for September, 2003, attached hereto as Exhibit V (the "Contended Methodology").
Buyer believes that such a change would decrease the revenue to be derived by it from the System, and the Seller has agreed to reduce the amount it otherwise required to be paid at Closing by $900,000.00 (the "$900,000.00 Reduction") to accommodate Buyer's contention that a change from the Current Methodology to the Contended Methodology would decrease its future revenue from the System.