Monthly Deficient Barrels means the number of Barrels by which (i) a VC Shipper’s Monthly Throughput fails to meet (ii) such VC Shipper’s Monthly Volume Commitment.
Monthly Deficient Barrels means the number of Barrels by which a VC Shipper's or Committed Shipper's Monthly Throughput fails to meet its Monthly Volume Commitment.
Monthly Deficient Barrels means the difference between the Barrels of Ethane a Committed Shipper actually ships on the System during a Month and the Committed Shipper’s Monthly Minimum Volume Commitment for such Month.
Examples of Monthly Deficient Barrels in a sentence
If Shipper Ships less than its Monthly Minimum Volume Commitment in any Month of the Term commencing on the Commencement Date, in addition to paying Carrier the applicable Incentive Rate for the actual number of barrels that Shipper Shipped for such Month, Shipper shall also pay Carrier an amount equal to Shipper’s Monthly Deficient Barrels multiplied by the Incentive Rate applicable to the Monthly Minimum Volume Commitment, as set forth in Exhibit A (“Deficiency Payment”).
If Shipper does not request a reduction in its Monthly Deficient Barrels and continues to make Deficiency Payments to Carrier during the period of Carrier Force Majeure, Shipper shall be entitled to the credit rights provided in Section 5(b) of this Agreement.
More Definitions of Monthly Deficient Barrels
Monthly Deficient Barrels means any shortfall in the number of barrels actually Shipped by Shipper in a Month compared to Shipper’s Monthly Minimum Volume Commitment, which shortfall shall be reduced by the number of (i) FM Deficient Barrels, if any,
Monthly Deficient Barrels means the number of Barrels by which (i) a VC Shipper’s
Monthly Deficient Barrels means, for a given month, the number of Barrels by which (a) a Committed Shipper’s Monthly Throughput on the System fails to meet (b) Shipper’s Monthly Volume Commitment.