Quarterly Deficiency Payment definition

Quarterly Deficiency Payment has the meaning set forth in Section 3.6.

Quarterly Deficiency Payment has the meaning given to such term in Clause 10(b)(ii).

Quarterly Deficiency Payment has the meaning set forth in the Schedule.

Examples of Quarterly Deficiency Payment in a sentence

• 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.

• 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.

• Zhang IY, Wu JM, Xu X (2010) Extending the reliability and applicability of B3LYP.

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

• Buyer shall take a quantity of Gas in each Contract Quarter equal to ninety percent (90%) of the Adjusted Quarterly Contract Quantity (“ Quarterly Take Obligation”), or Buyer shall be responsible for the payment of the Quarterly Deficiency Payment pursuant to Clause 10.a.iii below.

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

• 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.

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

• If during any quarter the Tonnage Royalty exceeds the Quarterly Deficiency Payment due for the quarter, then Lessee has the right to recoup any unrecouped Quarterly Deficiency Payment made with respect to the preceding twenty quarters from the excess Tonnage Royalty on a first paid first recouped basis, provided, however, Quarterly Deficiency Payments paid in respect of 2010 shall not be recoupable.

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. .

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. Section 1.02

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.

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.