Monthly Minimum Volume Commitment definition

Monthly Minimum Volume Commitment means the volume of Ethane a Committed Shipper has committed to ship each Month on the System, as set forth in the Committed Shipper’s TSA.
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Monthly Minimum Volume Commitment means the product of the minimum daily volume commitment of Crude Petroleum for a specified Path (as defined in such Committed Shipper’s TSA) on the Pipeline set out in Schedule A to a Committed Shipper’s TSA and the number of days in the relevant month.
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Monthly Minimum Volume Commitment for any Month means the product of (a) the Minimum Volume Commitment, and (b) the number of days in such Month.
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Examples of Monthly Minimum Volume Commitment in a sentence

  • Except as otherwise provided in Section 3.D(i)(a) of a Committed Shipper’s TSA, in addition to paying any transportation fees owed to Carrier during a month under Part III(A) of this tariff, a Committed Shipper shall also be responsible for paying a “Demand Fee” each Month to Carrier, which shall equal $1.944 per Barrel multiplied by the Committed Shipper’s then-applicable Monthly Minimum Volume Commitment, which commitment amount is set forth in Exhibit G of the Committed Shipper’s TSA.

  • Under normal operating conditions, each Committed Shipper will be allocated an amount of capacity equaling the lesser of: (i) its Nomination for the Proration Month, or (ii) its Monthly Minimum Volume Commitment.

  • Nominations from Committed Shippers up to the level of their Monthly Minimum Volume Commitment will not be subject to proration under normal operating circumstances.

  • If a Nomination from a Committed Shipper for the month is less than its Monthly Minimum Volume Commitment, the Committed Shipper will be allocated only the amount of its Nomination, still subject to the deficiency obligation as determined within its TSA.

  • Prorationing of System Capacity Prior to Project In-Service DateEach Committed Shipper’s TSA specifies that the Committed Shipper’s Monthly Minimum Volume Commitment will become effective as of the Project In-Service Date.

  • In the event that Committed Shippers do not fully nominate their Monthly Minimum Volume Commitment, that unused capacity will be made available to accommodate Nominations made by Uncommitted Shippers.

  • Interim Report 2021 Asia Energy Logistics Group LimitedNotes to the Condensed Consolidated Interim Financial Statements 10.

  • 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”).

  • Commencing on the Commencement Date, during each Month of the Term, Shipper shall Ship, or pay a Deficiency Payment for failure to Ship, its Monthly Minimum Volume Commitment, in accordance with the provisions of this Agreement.

  • Each Priority Service Committed Shipper will be allocated an amount of System Capacity in any Proration Month equal to the lesser of its Nomination or its Monthly Minimum Volume Commitment, which allocation shall not exceed 90% of the System Capacity in any Proration Month except to the extent that less than 10% of System Capacity is otherwise allocated under this Item No. 85.


More Definitions of Monthly Minimum Volume Commitment

Monthly Minimum Volume Commitment means Shipper’s Minimum Volume Commitment in the applicable Month multiplied by the number of days in the applicable Month.
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Monthly Minimum Volume Commitment means, for any Committed Shipper, such Committed Shipper’s Minimum Volume Commitment multiplied by the number of calendar days in the relevant Proration Month.
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Related to Monthly Minimum Volume Commitment

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Monthly Volume means the product of the Committed Volume multiplied by the number of days in the relevant month.

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

  • Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.

  • 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.

  • Contract Quantity means the total number shares, contracts or other units of the Underlying Instrument that the Client is notionally buying or selling;

  • Type B quantity means a quantity of radioactive material greater than a Type A quantity.

  • Type A quantity means a quantity of radioactive material, the aggregate radioactivity of which does not exceed A1 for special form radioactive material or A2 for normal form radio- active material, where A1 and A2 are given in Appendix O or may be determined by procedures described in Appendix O.

  • Monthly Uptime Percentage means total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.

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

  • Scheduled Quantity means the net quantity of Gas (being the difference between receipt and delivery nominations) agreed by MDL and the Welded Party to pass through (or, in the case of a Notional Welded Point, be deemed to have passed through) the relevant Welded Point for a Day.

  • Daily Quantity means the quantity of waste discharged during an operating day.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

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

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • Required Quantity in a unit price Contract shall mean the actual quantity of any item of Work or materials which is required to be performed or furnished in order to comply with the Contract.

  • 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.

  • Scheduled Amount means the Day-Ahead Schedule comprised of the quantity (in MWh) of electric energy expected to be produced by the Generating Facility that is scheduled from Seller or Seller’s Scheduling Coordinator to Buyer in a Physical Trade in the IFM.