Failed LNG Cargo Terminal Operational Costs definition

Failed LNG Cargo Terminal Operational Costs means costs arising as a direct result of a Failed LNG Cargo Event, including but not limited to the proven costs incurred as a result of Terminal Operator being required to purchase additional LNG volumes in order to cool down the Terminal in the event of warming up and in the event that the LNG storage volume falls or is expected to fall below the LNG Operational Heel as a result of such Failed LNG Cargo Event.
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Related to Failed LNG Cargo Terminal Operational Costs

  • Terminal operator means a person who owns, operates, or otherwise controls a terminal.

  • Commercial Operation means the condition of operation in which the complete equipment covered under the Contract is officially declared by the Owner to be available for continuous operation at different loads up to and including rated capacity. Such declaration by the Owner, however, shall not relieve or prejudice the Contractor of any of his obligations under the Contract.

  • Commercial Operation Date means the date on which a Material Project is substantially complete and commercially operable.