Quarterly Deficiency Quantity means, for each Contract Quarter, the difference, if positive, between: (a) the Take or Pay Quantity for such Contract Quarter; and (b) the Quarterly Allocated Quantity for such Contract Quarter. If the result is a negative number, the Quarterly Deficiency Quantity for such Contract Quarter shall be deemed to be zero (0).
Quarterly Deficiency Quantity means the amount (in MMBtu), if any, determined as of the end of each Quarterly Period, by which (a) the Aggregate Gas Commitment as of the end of such Quarterly Period exceeds (b) the sum of (x) the total cumulative quantity (in MMBtu) of Customer Gas delivered at the Point of Delivery during the MQ Period as of the end of such Quarterly Period, plus (y) the total cumulative quantity (in MMBtu) of Customer Gas on which Customer has paid to Processor a Deficiency Payment under this Agreement as of the end of the preceding Quarterly Period, plus (z) the total cumulative Plant Interruption Credit Quantity (in MMBtu) as of the end of such Quarterly Period. Except as may otherwise be provided herein, any such Deficiency Payments made by Customer shall be treated by Processor as a prepayment of the Processing Fee for Customer Gas that may be delivered by Customer after the date on which Customer has delivered the Total Gas Commitment and shall be credited by Processor to the payment of the Processing Fee that otherwise would be payable hereunder for such quantities of Customer Gas delivered during the Primary Term until such prepaid fees have been exhausted; provided, however, that if a Deficiency Payment with respect to the Initial Quarterly Period is made by Customer (the “Initial Quarter Deficiency Payment”) and Customer delivers (i) Customer Gas during the Second Quarterly Period that exceeds the Second Quarter Forecast Volume or (ii) Customer Gas during the Third Quarterly Period that exceeds the MDQ in effect for the Third Quarterly Period, then the Quarterly Deficiency Quantity corresponding to such Initial Quarter Deficiency Payment shall be credited by Processor to the quantity of Customer Gas delivered in excess of the Second Quarter Forecast Volume during the last Month in the Second Quarterly Period or to the quantity of Customer Gas delivered in excess of the MDQ in effect for the Third Quarterly Period during the last Month of the Third Quarterly Period, as applicable. Notwithstanding anything in this Agreement to the contrary, (i) if and to the extent that the Quarterly Deficiency Quantity corresponding to such Initial Quarter Deficiency Payment is so credited for deliveries of Customer Gas in the Second Quarterly Period or the Third Quarterly Period, as applicable, then the Initial Quarter Deficiency Payment, and the corresponding Quarterly Deficiency Quantity, shall not be taken into account when determining the amount of prepayment and credit ...
Quarterly Deficiency Quantity shall have the meaning given to such term in Section 9.4.
Examples of Quarterly Deficiency Quantity in a sentence
The quantity of Gas equal to any Quarterly Deficiency Quantity for which Buyer has paid Quarterly Deficiency Payment shall constitute “Make Up Gas” accrued during such Contract Quarter.
Whilst a conviction may follow in terms of section 208 of the Criminal Procedure Act, No. 51 of 1977, on the single evidence of any competent witness, it is trite that such evidence must be clear and satisfactory in every material respect and that it has to be treated with caution.2 The reason for this is that a court must be alive to the danger of relying on evidence standing alone because it cannot be checked against other evidence.
The Gas Price previously paid in respect of the Quarterly Deficiency Quantity that gives rise to the Make Up Gas right.
More Definitions of Quarterly Deficiency Quantity
Quarterly Deficiency Quantity means the amount (in MMBtu), if any, determined as of the end of each Quarterly Period, by which (a) the Aggregate Gas Commitment as of the end of such Quarterly Period exceeds (b) the sum of (x) the total cumulative quantity (in MMBtu) of Customer Gas delivered at the Point of Delivery during the MQ Period as of the end of such Quarterly Period, plus (y) the total cumulative quantity (in MMBtu) of Customer Gas on which Customer has paid to Processor a Deficiency Payment under this Agreement as of the end of the preceding Quarterly Period, plus (z) the total cumulative Plant Interruption Credit Quantity (in MMBtu) as of the end of such Quarterly Period. Any such Deficiency Payments made by Customer shall be treated by Processor as a prepayment of the Processing Fee for Customer Gas that may be delivered by Customer after the date on which Customer has delivered the Total Gas Commitment and shall be credited by Processor to the payment of the Processing Fee that otherwise would be payable hereunder for such quantities of Customer Gas delivered during the Primary Term until such prepaid fees have been exhausted. Deficiency Payments due by Customer hereunder shall be paid by Processor as provided in Article XII.
Quarterly Deficiency Quantity as defined in Section 5.8.4;