Failed LNG Cargo Event definition

Failed LNG Cargo Event means one or more of the following events:(i) an LNG Cargo will not be delivered, or, (ii) is expected to arrive late (i.e. outside of the LNG Arrival Window), or, (iii) will be a different volumetric size, in m3 that is outside of the Allowable Volume Tolerance, or, (iv) will be a different energy content, in kWh that is outside of the Allowable Energy Tolerance, or, (v) LNG does not meet the LNG Specification.
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Examples of Failed LNG Cargo Event in a sentence

  • Before the Prevailing Nominations of the other Users are reduced, the Prevailing Nomination of the relevant User that has caused the Failed LNG Cargo Event will be reduced by up to the full amount of the Prevailing Nomination for the period until the next AP LNG Cargo.

  • The Defaulting User is responsible to cover the costs, in accordance with the IUA, of the Mitigation Action(s) elected by Terminal Operator to address the relevant Failed LNG Cargo Event.

  • In the event that of a Failed LNG Cargo Event giving rise to either Cancelled Gas or Deferred Gas, Terminal Operator may elect to reduce Prevailing Nominations from and after the time at which Terminal Operator receives notification from a User that a Failed LNG Cargo Event is expected to occur.

  • Once a Failed LNG Cargo Event and/or a Terminal Operator Revised Sendout Event has occurred and this may have an impact on other Users, then Terminal Operator will issue a notification to Users to update such Users on the steps that the Terminal Operator is taking to mitigate the impact on the Users.

  • Upon Terminal Operator being notified by a User pursuant to clause9.2.2, that an LNG Cargo is likely to be deemed a Failed LNG Cargo or otherwise result in a Failed LNG Cargo Event, the Terminal Operator may, in its absolute discretion, reject such LNG Cargo, in which case Terminal Operator shall issue to the relevant User a Failed LNG Cargo Event Notice in respect of such LNG Cargo and deem such User to be a Defaulting User.

  • Terminal Operator shall act to mitigate the impact of a Failed LNG Cargo Event on other Users, and to protect the LNG storage level from falling below LNG Operational Heel.

  • Terminal Operator will prepare and deliver to the relevant User a statement of account for each Failed LNG Cargo Event.

  • In the event of a Failed LNG Cargo Event, Terminal Operator, acting as prudent and reasonable operator, will be entitled to draw Mitigation Funds from the Inter-User Guarantee of the Defaulting User as set forth in the IUA.

  • Any Evacuation Gas that arises from a Failed LNG Cargo Event will be allocated to the User causing the Failed LNG Cargo Event.

  • Upon the reberthing of any LNG Carrier which has vacated the Terminal berth pursuant to clause10.4.11 for reasons not solely attributable to Terminal Operator, the User shall be responsible for any actual costs incurred by Terminal Operator and the LNG Cargo shall be a Failed LNG Cargo Event as a result of such vacation and reberthing.