Quarterly Deficiency Payment definition

Quarterly Deficiency Payment has the meaning set forth in Section 3.6.
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Quarterly Deficiency Payment has the meaning given to such term in Clause 10(b)(ii).
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Quarterly Deficiency Payment has the meaning set forth in the Schedule.
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Examples of Quarterly Deficiency Payment in a sentence

  • This Section 7 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein.

  • Customer shall pay Company the amount of such Quarterly Deficiency Payment along with any Throughput Charge payable hereunder.

  • If during any quarter Lessee shall pay Tonnage Royalty that is less than the Quarterly Deficiency Payment, Lessee will pay to Lessor, at the prescribed time, the difference between the Tonnage Royalty paid and the Quarterly Deficiency Payment due.

  • Sellers’ rights to receive payment in respect of Gas delivered to Buyer and in respect of Buyer’s obligations to pay for Gas not taken (including payment of the Quarterly Deficiency Payment) shall be in accordance with their respective Participating Interests.

  • If during any quarter Lessee shall pay Tonnage Royalty that is equal to or in excess of the Quarterly Deficiency Payment, then no Quarterly Deficiency Payment shall be due for that quarter.

  • If MPL is unable to transport the Minimum Capacity due to a Force Majeure event, then MPC’s obligation to ship the Quarterly Throughput Commitment and pay the Quarterly Deficiency Payment shall be reduced to the extent that MPL is prevented from transporting the full Quarterly Throughput Commitment.

  • Each Monthly Statement immediately following the last Month in each Calendar Quarter shall include a report that sets forth the amount of Quarterly Deficiency Volume, if any, or Quarterly Surplus Volume, if any, and any Quarterly Deficiency Payment that may be due and payable by Customer.

  • This Section 10 shall survive the expiration or termination of this Schedule, if necessary for the application of any Quarterly Deficiency Payment against any Quarterly Surplus Volume as set forth herein.

  • Therefore, the project proponent requests a waiver of the maximum height of main structures, permitting buildings on parcels 3, 5, 6 and 7 to be up to 50 feet.

  • For the avoidance of doubt, to the extent any Quarterly Deficiency Payment is applied to any Quarterly Surplus Volumes (such volumes being referred to as “Pre-Paid Volumes”), the Throughput Charge for such Pre-Paid Volumes shall be the Tier 1 Rate for the Calendar Quarter in which such Quarterly Deficiency Payment was made.


More Definitions of Quarterly Deficiency Payment

Quarterly Deficiency Payment means, in respect of any Contract Quarter, the Dollar amount equal to the Crude Petroleum of (i) the Quarterly Deficiency (if any) multiplied by (ii) the Priority Transportation Rate then in effect for the transportation of Crude Petroleum as set forth in Operator’s current FERC Tariff No. .
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Quarterly Deficiency Payment has the meaning set forth in the Schedule. (nn) “Quarterly Deficiency Volume” has the meaning set forth in the Schedule. (oo) “Quarterly Surplus Volume” has the meaning set forth in the Schedule. (pp) “Rate” means the Tariff Rate or the Transportation Rate, as applicable, payable by Shipper for transportation on the Pipeline System, as set forth in the Schedule. (qq) “Refineries” means the Valero refineries located in Port Xxxxxx, Texas, Sunray, Texas, Memphis, Tennessee and any other Valero refinery specifically identified as such in the Schedule. The term “Refinery” means any one of the Refineries, as specified in the Schedule. (rr) “Renewal Term” has the meaning set forth in Section 3.01. (ss) “Schedule” has the meaning set forth in Section 2.01. (tt) “Shipper” has the meaning set forth in the introductory paragraph. (uu) “Shipper Force Majeure” has the meaning set forth in Section 14.03. (vv) “Specifications” has the meaning set forth in the Schedule. (ww) “Suspension Date” means the 60th Day after the commencement of a Shipper Force Majeure. (xx) “Tariff” has the meaning set forth in the Schedule. 4 (yy) “Tariff Rate” has the meaning set forth in the Schedule. (zz) “Taxes” means all taxes (except for ad valorem taxes, property taxes, income taxes, gross receipt taxes, payroll taxes and similar taxes) including any interest or penalties attributable thereto, imposed by any Governmental Authority. (aaa) “Term” has the meaning set forth in Section 3.01. (bbb) “Terminal” has the meaning set forth in the Schedule. (ccc) “Transportation Rate” has the meaning set forth in the Schedule. (ddd) “Valero” means Valero Energy Corporation.
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Quarterly Deficiency Payment means, in respect of any Contract Quarter, the Dollar amount equal to the product of (i) the Quarterly Deficiency (if any) multiplied by (ii) the Tariff Rate in effect for the shipment of Product during such Contract Quarter as published in the Magellan Tariff. Such Quarterly Deficiency Payment shall be subject to the provisions of Sections 4.2, 4.3 and 4.4 of this Agreement.
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Quarterly Deficiency Payment has the meaning set forth in the Schedule. (ss) “Quarterly Deficiency Volume” has the meaning set forth in the Schedule. (tt) “Quarterly Surplus Volume” has the meaning set forth in the Schedule. (uu) “Railway” means any railway employed for the purpose of transporting Products to and from the Terminal. 4 (vv) “Refineries” means the Valero refineries located in Port Xxxxxx, Texas, Sunray, Texas, Memphis, Tennessee and any other Valero refinery specifically identified as such in the Schedule. The term “Refinery” means any one of the Refineries, as specified in the Schedule. (ww) “Removal Deadline” has the meaning set forth in Section 3.02(a). (xx) “Renewal Term” has the meaning set forth in Section 3.01. (yy) “Schedule” has the meaning set forth in Section 2.01. (zz) “Specifications” has the meaning set forth in the Schedule. (aaa) “Suspension Date” means the 60th Day after the commencement of a Customer Force Majeure. (bbb) “Tanks” means the storage tanks and all appurtenant and associated pipelines and pumps used in connection with the storage and handling of Products at the Terminal. (ccc) “Taxes” means all taxes (except for ad valorem taxes, property taxes, income taxes, gross receipt taxes, payroll taxes and similar taxes) including any interest or penalties attributable thereto, imposed by any Governmental Authority.
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Related to Quarterly Deficiency Payment

  • Deficiency Payment has the meaning set forth in Section 9(a).

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Xxxxxx, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Gas Supply Deficiency means any occurrence relating to Sellers gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Sellers gas supply.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Advance Deficiency As defined in Section 4.01(b).

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2006-1 Liquidity Amount on such date and (b) the Series 2006-1 Required Liquidity Amount on such date.

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Deficiency Amount shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • Daily Failure Amount means the product of (x) .005 multiplied by (y) the Closing Sale Price of the Common Stock on the applicable Share Delivery Date.

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Adjusted Actual/360 Accrued Interest Amount with respect to any REMIC I Regular Interest referred to in clause (B) of the second sentence of the prior paragraph, for any Interest Accrual Period, is an amount of interest equal to the product of (a) the Net Mortgage Rate then in effect (including as a result of any step-up provision) for the related Mortgage Loan under the original terms of such Mortgage Loan in effect as of the Closing Date (without regard to any modifications, extensions, waivers or amendments of such Mortgage Loan subsequent to the Closing Date, whether entered into by the Master Servicer or the Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower), multiplied by (b) a fraction, the numerator of which is the number of days in such Interest Accrual Period, and the denominator of which is 360, multiplied by (c) the Uncertificated Principal Balance of such REMIC I Regular Interest immediately prior to the Distribution Date that corresponds to such Interest Accrual Period; provided that, if the subject Interest Accrual Period occurs during (x) December of any year that does not immediately precede a leap year or (y) January of any year, then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be decreased by the Interest Reserve Amount, if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.04(c), from the Distribution Account to the Interest Reserve Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period; and provided, further, that, if the subject Interest Accrual Period occurs during February of any year (or during any December or January preceding the month of the Final Distribution Date), then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be increased by the Interest Reserve Amount(s), if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.05(c), from the Interest Reserve Account to the Distribution Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period.

  • Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Lease Deficit Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Lease Deficit Demand.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cut-off Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.