Excess Production definition

Excess Production has the meaning set out in Section 4.5(3).

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Excess Production means, with respect to any Deferred Contribution Period, the excess of the Production eligible for PTCs generated by the PTC Eligible Projects for which the related item of gross income is actually allocated to the Class B Member (without regard to the Fixed Tax Assumptions) through the expiration of the Deferred Contribution Period over the Production Threshold through the expiration of the Deferred Contribution Period as set forth in Schedule 4.3(b).

Excess Production means, with respect to a Quarter, the amount, if any, by which Actual Production (excluding any amounts which Payee rejected in accordance with Section 10(a) of the Master Biomass Purchase Agreement for which replacement Biomass was not provided pursuant to Section 10(c) of the Master Biomass Purchase Agreement) exceeds Forecast Production.

Examples of Excess Production in a sentence

• Any Excess Production Costs reflected by any such statement shall be carried forward to the next and succeeding month or months until the Excess Production Costs shall have been liquidated.

• El Paso shall at all times maintain true and correct books and records sufficient to determine the amounts payable to Ramshorn hereunder, including, but not limited to, a Net Profits Account to which Gross Proceeds, Production Costs and Excess Production Costs are credited and charged, and a Payout Account.

• The Net Profits Account shall be credited with the aggregate Gross Proceeds received by El Paso, and shall be charged with the aggregate Production Costs (or as the case may be, Excess Production Costs) with respect to the Subject ▇▇▇▇▇, in each case using the Cash Method of Accounting.

• If the Excess Production Program Overruns are approved by the Management Committee, each Participant shall, within 15 days after the receipt of a written request from the Operator, provide the Operator with its Cost Share of such Excess Production Program Overruns.

• The Net Profits Account shall be credited with the aggregate ▇▇▇▇▇ Proceeds received by El Paso, and shall be charged with the aggregate Production Costs (or as the case may be, Excess Production Costs) with respect to the Subject Wells, in each case using the Cash Method of Accounting.

• El Paso shall at all times maintain true and correct books and records sufficient to determine the amounts payable to Lehman hereunder, including, but not limited to, a Net Profits Accou▇▇ ▇▇ which Gross Proceeds, Production Costs and Excess Production Costs are credited and charged, and a Payout Account.

• The payment terms for Excess Production Volume above [***] shall be [***]; provided however, that during the Letter Term, Fresenius Kabi shall not [***] without Cerus’ prior written consent.

• Payment for such Excess Production will be made simultaneously with the Fifth Week Payment.

• If Excess Production Program Overruns are not approved by the Management Committee, as provided in §9.5, the Operator shall have the right to curtail or abandon the Production Program.

• Buyer shall confirm the nominations pursuant to Section 5.4(d), together with its acceptance or rejection of any Excess Production, if applicable, before the close of business on the second Business Day following receipt thereof.

More Definitions of Excess Production

Excess Production means, with respect to a Quarter, the amount, if any, by which Actual Production (excluding any amounts which ELP rejected in accordance with Section 6.2 of the Terminal Services Agreement) exceeds Forecast Production.

Excess Production means the number of bbls/day of ethanol for which the Aggregate Facility Production is in excess of [***] during the relevant Quarterly Period.

Excess Production means, in respect of each Calculation Period, any production of consumer grade dry finished cannabis flower from the Natura Facilities as set forth in the applicable Production Statement during such Calculation Period in excess of 2,250 kilograms.