Minimum Annual Quantity definition

Minimum Annual Quantity. (“MAQ”) means in respect of each Contract Year that quantity of Gas equal to 75% multiplied by the Total Nominated Consumption which the Customer will be liable to pay for unless otherwise stated overleaf.

Minimum Annual Quantity means the minimum annual quantity of gas and electricity to be consumed by The Client, as specified in an Order Form.

Minimum Annual Quantity means the minimum quantity of Contract Coal, in GJ, which Eskom is entitled to Take Off and which the Supplier is required to Deliver during each Year, being 95% (ninety five percent) of the Annual Quantity;

Examples of Minimum Annual Quantity in a sentence

• For example, if the Minimum Annual Quantity of Product for a given Year is **** metric tons, and if HOKU delivers **** metric tons in January, then the next shipment of **** metric tons is not required until the following Year.

• At any time during the term of this Agreement, HOKU may ship to JINKO up to the full cumulative balance of Minimum Annual Quantity of Product to be shipped through the end of this Contract (an “Excess Shipment”) with JINKO’s prior written consent.

• In the event that the Commencement Date for the first Contract Year described in Section A of this Agreement occurs after , the Minimum Annual Quantity shall be ratably adjusted.

• HOKU shall deliver any deficiency in the Minimum Annual Quantity of Product within the first quarter in the next Year.

• Customer’s use shall be reviewed at the end of each Contract Year of the Agreement and in any situation where Customer fails to transport the Minimum Annual Quantity, any such shortages will be assessed against the Customer at the per Dth rate as specified above in Section C for the corresponding Contract Year.

More Definitions of Minimum Annual Quantity

Minimum Annual Quantity means that quantity of Gas specified in Part A in respect of each Site, which the Customer has committed to purchase in the Contract Year;

Minimum Annual Quantity and “MAQ” mean, for any Contract Year ending on or before May 31, 2021, a quantity of [***] MMcfd multiplied by the number of Days in that Contract Year, subject to adjustment in accordance with the terms of this Agreement. For the avoidance of doubt, beginning with the Contract Year commencing on June 1, 2021 and for all subsequent Contract Years, there shall be no the Minimum Annual Quantity or MAQ.”

Minimum Annual Quantity means a quantity of gas specified as such in relation to each Site or group of Sites in the Schedule of Quantities.

Minimum Annual Quantity means the minimum quantity of Biomethane, measured in Gigajoules, that the Customer agrees to purchase and pay per Year, whether or not such quantity is actually consumed by the Customer.

Minimum Annual Quantity as set out in Schedule 2;

Minimum Annual Quantity means [***] individual stick packs of Product per Contract Year for the initial Contract Year and for the 2023 Contract Year, and, for the 2024 Contract Year and each Contract Year thereafter during the Term, shall mean [***] individual stick packs of Product per Contract Year.

Minimum Annual Quantity shall have the meaning set forth in Section 10.2 of this Agreement.