Minimum Volume Period definition
Examples of Minimum Volume Period in a sentence
Producers commit and agree to deliver to Gatherer for gathering on the ▇▇▇▇▇▇▇ Gathering Systems in each Year during the Minimum Volume Period no less than the Adjusted ▇▇▇▇▇▇▇ Annual Minimum Volume for each such Year.
Annual ▇▇▇▇▇▇▇ Excess Volumes shall be used to first reduce the Adjusted ▇▇▇▇▇▇▇ Annual Minimum Volume in the last Year of the Minimum Volume Period and then once the Adjusted ▇▇▇▇▇▇▇ Annual Minimum Volume for such Year is completely satisfied from such Annual ▇▇▇▇▇▇▇ Excess Volumes, any remaining Annual ▇▇▇▇▇▇▇ Excess Volumes will credited to the Adjusted ▇▇▇▇▇▇▇ Annual Minimum Volume for the preceding Year or Years.
After the end of the Minimum Volume Period, Gatherer shall have the right to declare, acting reasonably, that the operation of all of any ▇▇▇▇▇▇▇ Gathering System is uneconomic (as defined below) by Notifying Producers.
Once determined, the MVC Additional Volume ▇▇▇▇▇ Amount shall be included in the determination of the Adjusted ▇▇▇▇▇▇▇ Annual Minimum Volume as provided in Section 4(d) of Exhibit A in the last Year of the ▇▇▇▇▇▇▇ Annual Minimum Volume Period.
For each Year thereafter, the ▇▇▇▇▇▇▇ Maximum Daily Quantity for each ▇▇▇▇▇▇▇ Gathering System shall be to equal **% of the average daily volumes of Producers’ Gas received and gathered hereunder at the Priority 1 Service level on each such ▇▇▇▇▇▇▇ Gathering System in the prior Year, but such redetermined ▇▇▇▇▇▇▇ Maximum Daily Quantity shall not exceed the ▇▇▇▇▇▇▇ Maximum Daily Quantity in effect for such ▇▇▇▇▇▇▇ Gathering System in the last Month of the Minimum Volume Period.
Producer commits to deliver to Gatherer for gathering on the Gathering System in each calendar quarter during the Minimum Volume Period no less than the Quarterly Minimum Volume for each such calendar quarter.
If the volume of (i) Producer’s Gas, (ii) Third-Party Gas, and (iii) Gas from any Dedicated Reserves caused to be drilled by Producer either through acreage farm-out or non-consent ▇▇▇▇▇, delivered to the Gathering System in a calendar quarter of the Minimum Volume Period is greater than the Quarterly Minimum Volume, then such excess volume will be credited to the last volumes due during the Minimum Volume Period.
For each Year during the Minimum Volume Period, the aggregate volume of MV Mitigation Gas (in Mcf’s) delivered under both Gathering Agreements during such Year shall be used to determine the Annual ▇▇▇▇▇▇▇ Gathered Volumes under each Gathering Agreement as follows (as to each Year, the “Aggregate MV Mitigation Gas”).
The Parties acknowledge and agree that the volumes shown for Year 2010 in Schedule A7 (the second Year of the Minimum Volume Period) include the deficit volumes required under Section 4(b) of Exhibit A to be carried forward to Year 2010 from Year 2009 and added to the Adjusted ▇▇▇▇▇▇▇ Annual Minimum Volume for Year 2010.
When CEMI provides Notice under Section 6(a)(2) above after the end of the Minimum Volume Period, Gatherer shall be responsible for the cost to install the pipe and ancillary equipment from the outlet flange of the meter tube of the Primary Measurement Device to the existing common gas header, including any modifications thereto, on the existing pad for the Producers ▇▇▇▇▇ covered by such Notice but only where Gatherer has not installed a Gatherer’s Receipt Meter on such existing pad.