Examples of Nominated Daily Quantity in a sentence
The amount owed by Seller to Buyer hereunder shall be calculated as the product of (A) the difference, if positive, between (i) the increased price paid by Buyer for replacement gas, including any additional transportation and fuel costs incurred by Buyer to receive such replacement gas and (ii) the then applicable Commodity Charge and (B) the difference between the Nominated Daily Quantity and the quantity of gas actually delivered by Seller.
With respect to deliveries of Natural Gas produced from the Subject Interests, at least two (2) Business Days prior to the date monthly nominations are due each month on the Transporter (as defined in the Natural Gas Purchase Terms), Borrower shall notify Lender in writing of the "Nominated Daily Quantity" that Borrower agrees to sell and deliver to Lender for the next succeeding month.
Until subsequently changed by Buyer pursuant to the following, Seller shall continue to deliver the initial Nominated Daily Quantity to Transporter, for the account of Buyer, each Day of the following Contract Month.
As to Commodity Charges, Seller's Statement shall be based on Buyer's Nominated Daily Quantity for each Day of such Contract Month, unless actual information is available indicating Buyer received less than the Nominated Daily Quantity, in which event the statement shall be based on the actual information or best available estimate.
Buyer may elect to prospectively change the Nominated Daily Quantity for any Day of the month.
In its sole discretion, Buyer may elect to prospectively change the Nominated Daily Quantity by providing notice to Seller of the changed Nominated Daily Quantity and the Day on which the changed Nominated Daily Quantity is to be effective (the Effective Date).
Seller shall continue to deliver to Transporter, for the account of Buyer, the changed Nominated Daily Quantity each Day unless and until Buyer elects to again change the Nominated Daily Quantity pursuant to the preceding.
If Borrower fails to notify lender of the "Nominated Daily Quantity" on or before the above stated date, Borrower's nomination shall be deemed to be unchanged from its last effective nomination.