Minimum Loading Rack Revenue Commitment definition

Minimum Loading Rack Revenue Commitment has the meaning set forth in Section 2(c)(i).
Minimum Loading Rack Revenue Commitment shall be an amount of revenue to HEP Lovington for each Contract Quarter determined by multiplying the Minimum Loading Rack Throughput by the Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to Section 2(a)(ii). Navajo will pay HEP Lovington the Loading Rack Tariff for all quantities of Products loaded at the Loading Rack. Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Loading Rack Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter.
Minimum Loading Rack Revenue Commitment has the meaning set forth in Section 2(c)(i). FIRST AMENDED AND RESTATED TANKAGE, LOADING RACK AND CRUDE OIL RECEIVING THROUGHPUT AGREEMENT (CHEYENNE)

Examples of Minimum Loading Rack Revenue Commitment in a sentence

  • The principal objective of El Dorado Logistics is for Frontier El Dorado to meet or exceed its obligations with respect to the Minimum Pipeline Delivery Revenue Commitment, to meet or exceed its obligations with respect to the Minimum Tankage Revenue Commitment, and to meet or exceed its obligations with respect to the Minimum Loading Rack Revenue Commitment.

  • The principal objective of Cheyenne Logistics is for Frontier Cheyenne to meet or exceed its obligations with respect to the Minimum Crude Oil Receiving Facility Revenue Commitment, to meet or exceed its obligations with respect to the Minimum Tankage Revenue Commitment, and to meet or exceed its obligations with respect to the Minimum Loading Rack Revenue Commitment.

  • In the event that the PPI increase for any given year is greater than seven percent (7%), then, in addition to any other applicable increases during such year, HEP Lovington shall increase the Loading Rack Tariff by an additional amount necessary to increase the Minimum Loading Rack Revenue Commitment by the OPEX Recovery Amount.

  • Unless objected to by HEP Lovington within 60 days of receipt by HEP Lovington of such proposal, such new Minimum Loading Rack Revenue Commitment under this Agreement shall become effective as of the date proposed by Navajo.

  • In the event that such aggregate operating expenses are less than the Assumed OPEX, HEP Lovington shall decrease the Loading Rack Tariff by the amount necessary to decrease the Minimum Loading Rack Revenue Commitment by an amount equal to the difference between the Assumed OPEX and such actual operating expenses for the remainder of the Term, and the Parties shall execute an amended, modified, revised or updated Schedule II reflecting such aggregate operating expenses as the new Assumed OPEX.

  • Any applicable exhibit or schedule to this Agreement will be updated, amended or revised, as applicable, in accordance with this Agreement to reflect any change in the Minimum Loading Rack Revenue Commitment under this Agreement agreed to in accordance with this Section 4(a).

  • Notwithstanding the previous sentence, any deficiency owed by Frontier El Dorado due to its failure to satisfy the Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment in any Contract Quarter shall be offset by any revenue owed to El Dorado Logistics in excess of the Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment for such Contract Quarter.

  • Notwithstanding the previous sentence, any deficiency owed by Frontier Cheyenne due to its failure to satisfy the Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment in any Contract Quarter shall be offset by any revenue owed to Cheyenne Logistics in excess of the Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment for such Contract Quarter.


More Definitions of Minimum Loading Rack Revenue Commitment

Minimum Loading Rack Revenue Commitment shall be an amount of revenue to Cheyenne Logistics for each Contract Quarter determined by multiplying the Minimum Loading Rack Throughput by the Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to Section 2(c)(ii) or Section 2(m). Frontier Cheyenne will pay Cheyenne Logistics the Loading Rack Tariff for (A) all quantities of Products and Crude Oil shipped out of the Refinery by pipeline or asphalt loading racks, and (B) all quantities of Products, Crude Oil and any other materials (such FIRST AMENDED AND RESTATED TANKAGE, LOADING RACK AND CRUDE OIL RECEIVING THROUGHPUT AGREEMENT (CHEYENNE) as coke and sulfur) loaded at the Loading Racks or the weight scales. Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Loading Rack Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter.
Minimum Loading Rack Revenue Commitment shall be an amount of revenue to El Dorado Logistics for each Contract Quarter determined by multiplying the Minimum Loading Rack Throughput by the Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to Section 2(c)(ii) or Section 2(m). Frontier El Dorado will pay El Dorado Logistics the Loading Rack Tariff for all quantities of Products or other materials loaded at the Loading Racks or the asphalt loading rack and any Products or other materials shipped using the weight scales. Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Loading Rack Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter. FIRST AMENDED AND RESTATED PIPELINE DELIVERY, TANKAGE AND LOADING RACK THROUGHPUT AGREEMENT (EL DORADO)
Minimum Loading Rack Revenue Commitment shall be an amount of revenue to El Dorado Logistics for each Contract Quarter determined by multiplying the Minimum Loading Rack Throughput by the Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to Section 2(c)(ii) or Section 2(m). Frontier El Dorado will pay El Dorado Logistics the Loading Rack Tariff for all quantities of Products or other materials loaded at the Loading Racks or the asphalt loading rack and any Products or other materials shipped using the weight scales. Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Loading Rack Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter.
Minimum Loading Rack Revenue Commitment shall be an amount of revenue to Cheyenne Logistics for each Contract Quarter determined by multiplying the Minimum Loading Rack Throughput by the Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to Section 2(c)(ii) or Section 2(m). Frontier Cheyenne will pay Cheyenne Logistics the Loading Rack Tariff for all quantities of Products or other materials loaded at the Loading Rack and any Products or other materials shipped using the weight scales associated with the Loading Racks. Notwithstanding the foregoing, in the event that the Closing Date is any date other than the first day of a Contract Quarter, then the Minimum Loading Rack Revenue Commitment for the initial Contract Quarter shall be prorated based upon the number of days actually in such contract quarter and the initial Contract Quarter.

Related to Minimum Loading Rack Revenue Commitment

  • Volume Commitment means the agreed upon Customer commitment to purchase, and may be described as an Annual Volume Commitment, Total Volume Commitment, Tiered Volume Commitment, or Subminimum Volume Commitment.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Available Commitment means a Lender’s Commitment minus:

  • Maximum Commitment Amount means Five Million Dollars ($5,000,000.00).

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • L/C Commitment Amount has the meaning given to that term in Section 2.3.(a).

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Aggregate Revolving Commitment means the aggregate amount of the Revolving Commitments of all of the Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $150,000,000.

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • LC Commitment Amount means $600,000,000 as the same may be reduced permanently from time to time pursuant to Section 2.08.

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Available Commitments shall refer to the aggregate of the Lenders’ Available Commitments hereunder.