Gas Storage Inventory Account definition

Gas Storage Inventory Account means an account maintained by CVGS as the means by which Transactions entered into by the Parties are accounted for. CVGS may maintain more than one Gas Storage Inventory Account on behalf of Customer.
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Gas Storage Inventory Account means the quantity of Gas stored in the Storage Facilities by Moss Bluff for Customer’s account.
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Gas Storage Inventory Account means the quantity of Working Gas in the Storage Facility designated for Customer’s account.
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Examples of Gas Storage Inventory Account in a sentence

  • At the sole option of CVGS, CVGS may purchase from Customer a Quantity of Gas equal to that positive balance in Customer’s Gas Storage Inventory Account at a price equal to 90% of the average price determined by reference to the Point of Receipt Price Index for each day of the Gas Month next following the last Gas Day of the Term.

  • At the sole option of CVGS, Customer shall purchase from CVGS a Quantity of Gas equal to that negative balance in Customer’s Gas Storage Inventory Account at a price equal to 110% of the average price determined by reference to the Point of Delivery Price Index for each day of the Gas Month following the last Gas Day of the Term.

  • Customer shall pay all charges applicable under this Tariff while removing all Gas in its Gas Storage Inventory Account.

  • Upon such termination, and subject to CVGS’s rights under Section 4.1(d) of Rule 6, Customer shall cause all Gas in its Gas Storage Inventory Account to be removed from the Storage Facilities in a manner mutually acceptable to CVGS and Customer.

  • In respect of each Transaction entered into under the Storage Service Documents, Customer will Nominate Volumes in a manner that in its reasonable estimation, will result in the balance of its Gas Storage Inventory Account for such Transaction equaling zero at the end of the Term of that Transaction.

  • Upon Customer or CVGS, as the case may be, making payment of the amount – determined pursuant to (a) or (b) of this Section 5.2, the balance of Customer’s Gas Storage Inventory Account in respect of that Transaction shall be adjusted to zero.

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  • As an alternative to the payments provided in (a), (b), and (c) of this Section 5.2 and at the sole option of CVGS, the Term of the Transaction in question may be extended by a period specified by CVGS so that Customer may submit additional Nominations to deliver or receive, as the case may be, the Quantity of Gas needed to bring Customer’s Gas Storage Inventory Account to zero.Original Cal.

  • ELECTRONIC TRANSACTION APPROVAL PROCEDURES (Continued) ATTACHMENT “B”SOFTWARE PART A – CVGS SOFTWARE EXAMPLE --- ACTUAL SCREENS TO BE DETERMINED The Navigator Bar Icon, Database Logon Screen, Company Selection Screen, Main Desktop, Transaction Request Screen, Price Index Screen, Gas Storage Inventory Account Activity Screen, Storage Inventory Screen, and all related lookup, search or sort windows constitute the CVGS Software.

Related to Gas Storage Inventory Account

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrower’s business.

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Inventory Formula Amount means the lesser of (i) 65% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory.

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Excluded Inventory shall have the meaning set forth in Section 2.4.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Inventory Reserve means reserves established by the Administrative Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Obsolete Inventory means items that have expired, are redundant or

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Inventory Value has the meaning set forth in Section 2.1.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Energy Accounts means the regional energy accounts/state energy accounts as specified in the Grid Code issued by the appropriate agency for each Month (as per their prescribed methodology), including the revisions and amendments thereof;

  • Baseline concentration means that ambient concentration level that exists in the baseline area at the time of the applicable minor source baseline date. A baseline concentration is deter- mined for each pollutant for which a minor source baseline date is estab- lished and shall include:

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • deposits townsite means the townsite to be established on or near the mining areas pursuant to this Agreement;

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Transit village means a community with a bus, train, light rail,

  • Inventory control system means a system described in Section 4-41a-103.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Inventory Reserves means such reserves as may be established from time to time by the Agent in its Permitted Discretion with respect to the determination of the saleability, at retail, of the Eligible Inventory, which reflect such other factors as affect the market value of the Eligible Inventory or which reflect claims and liabilities that the Agent determines will need to be satisfied in connection with the realization upon the Inventory. Without limiting the generality of the foregoing, Inventory Reserves may, in the Agent’s Permitted Discretion, include (but are not limited to) reserves based on:

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory: