Minimum Monthly Volume Requirement definition

Minimum Monthly Volume Requirement means a minimum monthly throughput during each Month equal to the product of (a) the Minimum Daily Volume Commitment and (b) the number of calendar days in the applicable Month; provided that if shipments on the BP2 Pipeline System are subject to prorationing under the Tariff in a Month then the Minimum Monthly Volume Requirement for such Month shall be reduced by the number of SHIPPER’s Barrels prorated when such proration is in effect; provided further that if SHIPPER’s obligations are suspended for all or any portion of a Month pursuant to Section 11, item (b) in the calculation of Minimum Monthly Volume Requirement for any such Month shall be reduced by the number of calendar days during which such suspension is in effect; and provided further that, if the Startup Date occurs on a date other than the first calendar day of a Month, item (b) in the calculation of Minimum Monthly Volume Requirement for such Month shall be calculated according to the number of calendar days between, and including, the Startup Date and the last calendar day of the Month in which the Startup Date occurs.
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Examples of Minimum Monthly Volume Requirement in a sentence

  • If SHIPPER’s right under this Agreement to ship on the River Rouge Pipeline System during any Month is prorated under the terms and conditions of the applicable and valid Laws related to common carrier pipelines or the terms and provisions of the Tariff, then the Minimum Monthly Volume Requirement used in calculating any Deficiency Payment obligations for such Month shall be reduced by the number of Barrels prorated when such proration was in effect during the Month.

  • SHIPPER and CARRIER desire to enter into an arrangement under the terms of which SHIPPER will agree to utilize the River Rouge Pipeline System to transport and guarantee a minimum volume of Product throughput according to CARRIER’s tariff specifications and to make a Deficiency Payment each Month that the Minimum Monthly Volume Requirement is not satisfied.

  • SHIPPER and CARRIER desire to enter into an arrangement under the terms of which SHIPPER will agree to utilize the D-B Pipeline System to transport and guarantee a minimum volume of Product throughput according to CARRIER’s tariff specifications and to make a Deficiency Payment each Month that the Minimum Monthly Volume Requirement is not satisfied.

  • If SHIPPER’s right under this Agreement to ship on the D-B Pipeline System during any Month is prorated under the terms and conditions of the applicable and valid Laws related to common carrier pipelines or the terms and provisions of the Tariff, then the Minimum Monthly Volume Requirement used in calculating any Deficiency Payment obligations for such Month shall be reduced by the number of Barrels prorated when such proration was in effect during the Month.

  • If SHIPPER’s right under this Agreement to ship on the BP2 Pipeline System during any Month is prorated under the terms and conditions of the applicable and valid Laws related to common carrier pipelines or the terms and provisions of the Tariff, then the Minimum Monthly Volume Requirement used in calculating any Deficiency Payment obligations for such Month shall be reduced by the number of Barrels prorated when such proration was in effect during the Month.

  • SHIPPER and CARRIER desire to enter into an arrangement under the terms of which SHIPPER will agree to utilize the BP2 Pipeline System to transport and guarantee a minimum volume of Product throughput according to CARRIER’s tariff specifications and to make a Deficiency Payment each Month that the Minimum Monthly Volume Requirement is not satisfied.