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 LNG 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.
Sample 1Sample 2Sample 3

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.

Related to Failed LNG Cargo Event

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • LCA Test Date has the meaning assigned to such term in Section 1.06.

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Closing Level : means the official daily Closing Level of the Index as published by the Index Sponsor in relation to each Scheduled Trading Day during the Investment Term.

  • Billing Date means the date upon which the monthly statement is generated and debited to the customer's account.

  • Transaction Date means, with respect to the Incurrence of any Indebtedness by the Company or any of its Restricted Subsidiaries, the date such Indebtedness is to be Incurred and, with respect to any Restricted Payment, the date such Restricted Payment is to be made.

  • Acceptable earned value management system means an earned value management system that generally complies with system criteria in paragraph (b) of this clause.

  • Planned External Financed Generation Capacity Resource means a Planned External Generation Capacity Resource that, prior to August 7, 2015, has an effective agreement that is the equivalent of an Interconnection Service Agreement, has submitted to the Office of the Interconnection the appropriate certification attesting achievement of Financial Close, and has secured at least 50 percent of the MWs of firm transmission service required to qualify such resource under the deliverability requirements of the Reliability Assurance Agreement.

  • AHYDO Catch-Up Payment means any payment with respect to any obligations of the Borrower or any Restricted Subsidiary, in each case to avoid the application of Section 163(e)(5) of the Code thereto.

  • MCE Valuation Period means, subject to any extension (as described in further detail in the Conditions), the period commencing from and including the moment upon which the Mandatory Call Event occurs and up to the end of the following trading session on the Index Exchange; and

  • Accepted Contract Amount means the amount accepted in the Letter of Acceptance for the execution and completion of the Works and the remedying of any defects.

  • NERC Interchange Distribution Calculator means the NERC mechanism that is in effect and being used to calculate the distribution of energy, over specific transmission interfaces, from energy transactions.

  • Availability Date means the day after the end of the fourth fiscal quarter following the fiscal quarter that includes such Effective Time on which the Company is required to file its Form 10-Q for such fiscal quarter except that, if such fourth fiscal quarter is the last quarter of the Company’s fiscal year, “Availability Date” means the day after the end of such fourth fiscal quarter on which the Company is required to file its Form 10-K.