Negotiated Rate Formula definition

Negotiated Rate Formula means a rate formula provision under which Transporter and Shipper have agreed, pursuant to GT&C Section 40, will be applied to service under Rate Schedule FT-1, FT-2, FT-3, PSH or IT-1 which results in a rate (including but not limited to Transporter Use Gas) where, for all or a portion of the contract term, one or more of the individual components of such rate exceeds or may exceed the applicable maximum rate or is less than or may be less than the applicable minimum rate (including but not limited to in the form of surcharges, credits, refunds or return of credits or refunds).
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Negotiated Rate Formula means a rate formula that Transporter and Shipper have agreed will apply to service under a specific contract under Rate Schedules contained in this Tariff which results in a rate, for all or a portion of the contract term or for one or more of the individual components of such rate, which may exceed the Maximum Recourse Rate or which may be below the Minimum Recourse Rate for such component set forth in Transporter's Tariff or otherwise deviate from Transporter's Recourse Rate.
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Negotiated Rate Formula means a rate formula that GTN and a Shipper have agreed will apply to service under a specific contract under Rate Schedules FTS-1, LFS-1, ITS-1, AIS-1 or PS-1 which results in x xxxx xxxxx, xxx all or a portion of the contract term, one or more of the individual components of such rate may exceed the maximum rate, or may be less than the minimum rate, for such component set forth in GTN's Tariff for the given service.
Sample 1

Examples of Negotiated Rate Formula in a sentence

  • If the parties agree upon a rate other than the applicable maximum rate, such written Agreement shall specify that the parties mutually agree either: (1) that the agreed rate is a discount rate; or (2) that the agreed rate is a Negotiated Rate (or Negotiated Rate Formula).

  • In the event that the parties agree upon a Negotiated Rate or Negotiated Rate Formula, this Agreement shall be subject to Section 49 of the General Terms and Conditions of Natural's Tariff.

  • For each Dth of Scheduled Equivalent Quantity to which a Negotiated Rate or a rate under a Negotiated Rate Formula applies, Shipper agrees to pay and shall pay any applicable Negotiated Rate or rate under a Negotiated Rate Formula set forth in the currently effective Schedule 3 appended hereto, in lieu of the Maximum Transportation Commodity Rate.

  • If the parties agree upon a rate other than the applicable maximum rate, such written Agreement shall specify that the parties mutually agree either: (1) that the agreed rate is a discount rate; or (2) that the agreed rate Is a Negotiated Rate (or Negotiated Rate Formula), In the event that the parties agree upon a Negotiated Rate or Negotiated Rate Formula, this Agreement shall be subject to Section 49 of the General Terms and Conditions of Natural’s Tariff.

  • When a Shipper has agreed to pay a Negotiated Rate or a rate under a Negotiated Rate Formula, the rates assessed hereunder shall be governed by Section 32 of the General Terms and Conditions of this Tariff and the terms of the Gas Transportation Contract between Shipper and Transporter.

  • The monthly bill for interruptible transportation service rendered under this Rate Schedule shall consist of a Transportation Commodity Charge and the GRI, ACA and Deferred Asset Surcharges; provided, however, that when a Shipper has agreed to a Negotiated Rate or a rate under a Negotiated Rate Formula, the monthly bill shall be determined in accordance with the provisions of Section 32 of the General Terms and Conditions and the terms of the Gas Transportation Contract between Transporter and Shipper.

  • For purposes of administering rates under this Rate Schedule ITS, Transporter shall have the right to reach an agreement with a Shipper to charge Negotiated Rates or rates under a Negotiated Rate Formula.

  • Xxxxxxx Title: Vice President FIRST UNION NATIONAL BANK, by /s/ Xxxx X.

  • In the event that Transporter receives a bid at a Negotiated Rate or at a rate to be determined under a Negotiated Rate Formula, for the purpose of determining the greatest economic value to Transporter, the value of such rate shall be determined in accordance with the provisions of Section 3.3 hereof and Section 32 of the General Terms and Conditions and shall in no event exceed the Recourse Rate.

  • The term "Negotiated Rate" shall mean a rate (including a Negotiated Rate Formula) that GTN and a Shipper have agreed will be charged for service under Rate Schedules FTS-1, LFS-1, ITS-1, AIS-1 or PS-1 where, for all or a portion xx xxx contract term, one or more of the individual components of such rate may exceed the maximum rate, or be less than the minimum rate, for such component set forth in GTN's tariff for the given service.


More Definitions of Negotiated Rate Formula

Negotiated Rate Formula means a rate formula which Trailblazer and Shipper have agreed will be applied to service under Rate Schedule FTS or ITS which may result in a rate which at all times or from time to time exceeds the maximum rate for service under Rate Schedule FTS or ITS, as applicable. If the rate will sometimes be less than but will never exceed the applicable maximum rate, such rate will be considered a discounted rate rather than a rate pursuant to a Negotiated Rate Formula. Any Agreement entered into after June 1, 1997, which provides for a rate under Rate Schedule ITS or FTS other than the applicable maximum rate shall contain a provision setting out the mutual agreement of the parties as to whether the pricing terms represent a discounted rate or a rate pursuant to a Negotiated Rate Formula.
Sample 1
Negotiated Rate Formula means a rate formula provision under which Horizon and Shipper have agreed will be applied to service under Rate Schedule FTS or ITS which results in a rate where, for all or a portion of the contract term, one or more of the individual components of such rate exceeds or may exceed the applicable maximum rate or is less than or may be less than the applicable minimum rate. Any Agreement entered into which provides for a rate under Rate Schedule FTS or ITS other than the applicable maximum rate shall contain a provision setting out the mutual agreement of the parties, consistent with Commission policy, as to whether the pricing terms represent a discounted rate or a rate pursuant to a Negotiated Rate Formula.
Sample 1

Related to Negotiated Rate Formula

  • Negotiated Rate with respect to each Swing Line Loan, the rate per annum agreed to in writing by the Borrower and the Swing Line Lender as the interest rate which such Swing Line Loan shall bear.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.

  • Interest Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Payment Date and each successive period beginning on (and including) an Interest Payment Date and ending on (but excluding) the next succeeding Interest Payment Date.

  • Interest Period Date means each Interest Payment Date unless otherwise specified hereon.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • USD LIBOR means the London interbank offered rate for U.S. dollars.

  • Adjusted LIBOR means, for any Borrowing of Eurodollar Loans, a rate per annum determined in accordance with the following formula: Adjusted LIBOR = LIBOR --------------------------------- 1 - Eurodollar Reserve Percentage

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.