Minimum Quarterly Commitment definition

Minimum Quarterly Commitment has the meaning set forth in the Schedule.
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Minimum Quarterly Commitment means the minimum unit quantities of Product, expressed on a quarterly basis, that Primus is required to purchase and Capricorn is required to deliver in order to maintain exclusive license and production rights, respectively, as set forth in Schedule C.
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Minimum Quarterly Commitment has the meaning set forth in the Schedule. 3 (ee) “Month” or “Monthly” means a calendar month commencing at 12:00 a.m. on the first Day thereof and running until, but not including, 12:00 a.m. on the first Day of the following calendar month, according to local time where the Terminal is located. (ff) “Monthly Statement” has the meaning set forth in Section 6.01. (gg) “MPMS” has the meaning set forth in Section 12.01. (hh) “Non-Conforming Product” means any Product that fails to meet the Specifications. (ii) “Normal Business Hours” means the period of time commencing at 8:00 a.m. on one Business Day and running until 5:00 p.m. on the same Business Day, according to local time where the Terminal is located. (jj) “Notice” means any notice, request, instruction, correspondence or other communication permitted or required to be given under this Agreement. (kk) “Outage” has the meaning set forth in Section 4.08. (ll) “Partnership” means Valero Energy Partners LP. (mm) “Partnership Change in Control” means Valero ceases to Control the general partner of the Partnership. (nn) “Party” means Company or Customer, individually and “Parties” means Company and Customer, collectively. (oo) “Person” means an individual or a corporation, firm, limited liability company, partnership, joint venture, trust, unincorporated organization, association, Government Authority or other entity. (pp) “Pipeline” means any pipeline owned, operated or legally accessible to Company and connected to the Terminal which is the subject of a Schedule referred to in this Agreement. (qq) “Product” or “Products” means the petroleum product(s) or other commodity(ies) specified in the Schedule. (rr) “Quarterly Deficiency Payment” has the meaning set forth in the Schedule. (ss) “Quarterly Deficiency Volume” has the meaning set forth in the Schedule. (tt) “Quarterly Surplus Volume” has the meaning set forth in the Schedule. (uu) “Railway” means any railway employed for the purpose of transporting Products to and from the Terminal. 4 (vv) “Refineries” means the Valero refineries located in Port Xxxxxx, Texas, Sunray, Texas, Memphis, Tennessee and any other Valero refinery specifically identified as such in the Schedule. The term “Refinery” means any one of the Refineries, as specified in the Schedule. (ww) “Removal Deadline” has the meaning set forth in Section 3.02(a). (xx) “Renewal Term” has the meaning set forth in Section 3.01. (yy) “Schedule” has the meaning set forth in Section 2.01. (zz) “Speci...
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Examples of Minimum Quarterly Commitment in a sentence

  • If Customer or any of its Affiliates determines to completely or partially suspend refining operations at the Refinery for a period of at least 12 consecutive Months, the Parties will negotiate in good faith to agree upon a reduction of the Minimum Quarterly Commitment to reflect such suspension of operations.

  • If the Parties are unable to agree to an appropriate reduction of the Minimum Quarterly Commitment, then after Shipper or such Affiliate has made a public announcement of such suspension, Shipper may provide written Notice to Carrier of its intent to terminate this Schedule and this Schedule will terminate 12 Months following the date such Notice is delivered to Carrier.

  • If Shipper or any of its Affiliates determines to completely or partially suspend refining operations at the Refinery for a period of at least 12 consecutive Months, the Parties will negotiate in good faith to agree upon a reduction of the Minimum Quarterly Commitment to reflect such suspension of operations.

  • No additional time will be granted to any vendor unless by addendum to this RFP.Please submit a copy of your company’s response to this RFP, via email, no later than August 30, 2019 at 3:00 p.m. in Word or PDF format to the following individuals: NameEmailPhoneCynthia Peoplescpeoples@chefa.com(860) 761-8421JoAnne Mackewiczcc: Debrah Gallijmackewicz@chefa.comdgalli@chefa.com(860) 761-8418 Please direct any questions via email, no later than August 9, 2019, to Cynthia Peoples.

  • Carrier shall provide transportation services to Shipper in excess of the Minimum Quarterly Commitment on an “as available” basis, and any use of such excess capacity shall be subject to the Tariff Rate in effect at the time of the tender.

  • Except as expressly provided in the Agreement for an Outage, a Carrier Force Majeure or a Shipper Force Majeure, if during any Calendar Quarter, Shipper fails to meet its Minimum Quarterly Commitment during such Calendar Quarter, then Shipper will pay Carrier a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Tariff Rate in effect for the relevant Calendar Quarter.

  • Except as expressly provided in the Agreement for an Outage, a Carrier Force Majeure or a Shipper Force Majeure, if during any Calendar Quarter, Shipper fails to meet its Minimum Quarterly Commitment during such Calendar Quarter, then Shipper will pay Carrier a deficiency payment (each, a “Quarterly Deficiency Payment”) in an amount equal to the volume of the deficiency (the “Quarterly Deficiency Volume”) multiplied by the Transportation Rate in effect for the relevant Calendar Quarter.

  • The FRB Chair has the discretion to approve additional individuals to attend and observe an FRB meeting, with the exception of the officer(s) involved in the investigation being reviewed.

  • That we have not been involved in any major litigation that may have an impact of affecting or compromising participation in this EOI.

  • The Minimum Quarterly Commitment during the period of the Carrier Force Majeure shall be ratably reduced to reflect the suspension.

Related to Minimum Quarterly Commitment

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

  • 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.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • 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.

  • Real-Time Commitment means NYISO’s multi-period security constrained unit commitment and dispatch model, as defined in the NYISO Tariffs.

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

  • Quarterly Commencement Date means the 1st day of each of April, July, October and January in each year.

  • Available Commitment means a Lender’s Commitment minus:

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

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

  • Quarterly Period the period of three months commencing on 1 January, 1 April, 1 July and 1 October.

  • 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.

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

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Lenders as the same may be decreased or increased pursuant to the terms of this Agreement. As of the Closing Date, the amount of the Total Revolving Commitment is $250,000,000.

  • L/C Commitment $50,000,000.

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

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

  • 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.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

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

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • 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 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.