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).

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.

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.

Examples of Negotiated Rate Formula in a sentence

• In no event shall MEP be required to refund to Shipper any amounts collected for service to which the Negotiated Rates or rates under a Negotiated Rate Formula apply, notwithstanding any otherwise applicable maximum or minimum rate set forth in MEP's FERC Gas Tariff, as may be revised from time to time.

• Unless otherwise expressly provided in this Agreement, the Negotiated Rates or rates under a Negotiated Rate Formula shall apply to service provided by MEP to Shipper for the term of the Agreement notwithstanding any otherwise applicable maximum or minimum rates set forth in MEP's FERC Gas Tariff as may be revised from time to time.

• 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.

• In the case of a bid or request for firm service involving a Negotiated Rate or Negotiated Rate Formula, the rules for calculating net present value set out in Section 30 of these General Terms and Conditions shall apply.

• Notwithstanding any provision of Transporter's effective FERC Gas Tariff to the contrary, Transporter and Shipper may mutually agree in writing to a Negotiated Rate (including a Negotiated Rate Formula) with respect to rates, rate components, charges, or credits that are otherwise prescribed, required, established, or imposed by this Rate Schedule or by any other applicable provision of Transporter's effective FERC Gas Tariff.

• In applying such criteria where a Negotiated Rate or Negotiated Rate Formula is involved, the value assigned to a request which includes a Negotiated Rate or Negotiated Rate Formula shall be limited by the Recourse Rate as provided in Section 33 of these General Terms and Conditions.

• KMLP shall grant such a request if firm transportation and point capacity is available to do so; provided that the revised primary points are consistent with the Shipper's capacity and provided further that the parties can mutually agree on the rate unless the applicable FTS Agreement or related discount or Negotiated Rate or Negotiated Rate Formula agreement does not permit a rate change when there is such a permanent primary point change.

• In applying such criteria where a Negotiated Rate or Negotiated Rate Formula is involved, the value assigned to a request which includes a Negotiated Rate or Negotiated Rate Formula shall be limited by the Recourse Rate as provided in Section 30 of these General Terms and Conditions.

• Unless otherwise expressly provided in this Agreement, the Negotiated Rates or rates under a Negotiated Rate Formula shall apply to service provided by MEP to Shipper for the term of the Agreement notwithstanding any otherwise applicable maximum or minimum rates set forth in MEP’s FERC Gas Tariff as may be revised from time to time.

More Definitions of Negotiated Rate Formula

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.

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.