Quarterly Throughput Commitment definition

Quarterly Throughput Commitment means, with respect to a Quarter, a volume of Crude Petroleum equal to [(a) the lesser of (i)] [ ] Light Equivalent Barrels per Day [and (ii) [ ] Light Equivalent Barrels per Day minus the sum of all third party shipments of Light Equivalent Barrels per Day on the Pipeline System for such Quarter,] multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term.
Sample 1Sample 2
Quarterly Throughput Commitment means, with respect to a Quarter, a volume of Product equal to (a) (i) [ ] Barrels per Day on the [ ] and (ii) [ ] Barrels per Day on the [ ], as applicable, multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term.
Sample 1
Quarterly Throughput Commitment means, with respect to a Quarter, a volume of Product equal to (a) (i) 320,000 Barrels per Day on the Garyville to Baton Rouge and/or Xxxxxxx Xxxxxxxx Segment and (ii) 80,000 Barrels Per Day on the Xxxxxxx to Colonial Pipeline Segment, as applicable, multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term."
Sample 1

Examples of Quarterly Throughput Commitment in a sentence

  • MPC’s withholding its consent shall not be considered unreasonable if the proposed Tariff change would materially restrict or limit MPC’s ability to ship the Quarterly Throughput Commitment on terms (other than tariff rates) consistent with those set forth in this Agreement or would otherwise negatively alter or abridge MPC’s rights (other than with respect to tariff rates) as stated in this Agreement.

  • 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.

  • If such Force Majeure event reduces the applicable refinery’s Crude Petroleum throughput capacity by at least 50% for a period of thirty (30) Days or more, then MPC’s Quarterly Throughput Commitment will be reduced by 50%, regardless of the actual reduction in such refinery’s Crude Petroleum throughput capacity, for the duration of such reduction in throughput capacity.

  • At such time as MPL is capable of transporting volumes equal to the Throughput Commitment, MPC’s obligation to ship the full Quarterly Throughput Commitment shall be restored.

  • If, during any Quarter during the Term, MPC Deliveries exceed MPC’s Quarterly Throughput Commitment for such Quarter, MPC shall be permitted to apply Prepaid Transportation Credits against any amounts due from MPC and payable to MPL with respect to the transportation of any volume in excess of MPC’s Quarterly Throughput Commitment for such Quarter.

  • At such time as MPL is capable of transporting volumes equal to the full applicable Quarterly Throughput Commitment on such Pipeline Segment, MPC’s obligation to ship the full applicable Quarterly Throughput Commitment shall be restored.

  • If, during any Quarter during the Term, MPC Deliveries on a Pipeline Segment exceed the applicable Quarterly Throughput Commitment on such Pipeline Segment for such Quarter, MPC shall be permitted to apply Prepaid Transportation Credits against any amounts due from MPC and payable to MPL with respect to the transportation of any volumes on such Pipeline Segment in excess of the Quarterly Throughput Commitment on such Pipeline Segment for such Quarter.

  • At such time as MPL is capable of transporting volumes equal to the Quarterly Throughput Commitment, MPC’s obligation to ship the full Quarterly Throughput Commitment shall be restored.

  • For purposes of this calculation, “deficiency” means the amount by which actual throughput is less than the Minimum Quarterly Throughput Commitment but greater than 10,500,000 barrels.

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


More Definitions of Quarterly Throughput Commitment

Quarterly Throughput Commitment means, with respect to a Quarter, a volume of Crude Petroleum and Product equal to equal to (a) the lesser of (i) 40,000 Barrels of Crude Petroleum and Product per Day and (ii) 60,000 Barrels of Crude Petroleum and Product per Day minus the sum of all third party shipments of Crude Petroleum and Product per Day on the Barge Dock, multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term.
Sample 1
Quarterly Throughput Commitment means, with respect of a Quarter, a volume of Product equal to (a) (i) 48,000 Barrels per Day on the Kenova to Columbus Pipeline Segment, (ii) 10,000 Barrels per Day on the Columbus to Dayton Pipeline Segment, (iii) 6,000 Barrels per Day on the Columbus to Heath Pipeline Segment, (iv) 4,000 Barrels per Day on the Heath to Findlay Pipeline Segment, (v) 32,000 Barrels per Day on the Canton to East Sparta Pipeline Segment, (vi) 8,000 Barrels per Day on the East Sparta to Heath Pipeline Segment, (vii) 13,000 Barrels per Day on the East Sparta to Midland Pipeline Segment, and (viii) 7,000 Barrels per Day on the East Sparta and Midland to West Point multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term.
Sample 1
Quarterly Throughput Commitment means, with respect to a Quarter, a volume of Product equal to (a) (i) 81,000 Barrels per Day on the Texas City to Pasadena Pipeline Segment; (ii) 61,000 Barrels per Day on the Pasadena to Connecting Carriers Pipeline Segment; (iii) for that period beginning on the 1st day of November, 2016 and ending on the date a total of 36,500,000 Barrels are delivered to the ITC Terminal, also 20,000 Barrels per Day are delivered to the ITC Terminal on either the Texas City to Pasadena Pipeline Segment or the Pasadena to Connecting Carriers Pipeline Segment , which volumes may also be credited to volumes required in (i) and (ii), as applicable, multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term.”
Sample 1
Quarterly Throughput Commitment means, with respect to a Quarter, a volume of Product equal to (a) (i) 81,000 Barrels per Day on the Texas City to Pasadena Pipeline Segment and (ii) 61,000 Barrels per Day on the Pasadena to Connecting Carriers Pipeline Segment, as applicable, multiplied by (b) the number of Days in such Quarter. The Quarterly Throughput Commitment will be reduced proportionately for any partial Quarter during the Term.
Sample 1

Related to Quarterly Throughput Commitment

  • Volume Commitment means the volume of NGLs that a Committed Shipper has guaranteed to ship on the Pipeline pursuant to its TSA.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Base Capacity Demand Resource Price Decrement means, for the 2018/2019 and 2019/2020 Delivery Years, a difference between the clearing price for Base Capacity Demand Resources and Base Capacity Energy Efficiency Resources and the clearing price for Base Capacity Resources and Capacity Performance Resources, representing the cost to procure additional Base Capacity Resources or Capacity Performance Resources out of merit order when the Base Capacity Demand Resource Constraint is binding.

  • Applicable Commitment Commission Percentage means (i) for each day on which the Aggregate Exposure is less than or equal to 50% of the Total Commitment, 0.375% and (ii) for each day on which the Aggregate Exposure exceeds 50% of the Total Commitment, 0.250%.

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • L/C Commitment Amount has the meaning given to that term in Section 2.3.(a).

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Quarterly Period means each period of three (3) consecutive months ending on March 31, June 30, September 30, and December 31.

  • Available Commitment means a Lender’s Commitment minus:

  • Applicable Revolving Commitment Fee Percentage means (a) from the Closing Date until the date of delivery of the Compliance Certificate and the financial statements for the second full Fiscal Quarter after the Closing Date, a percentage, per annum, determined by reference to the following table as if the Leverage Ratio then in effect were 3.00:1.00; and (b) thereafter, a percentage, per annum, determined by reference to the Leverage Ratio in effect from time to time as set forth below: >3.00:1.00 0.75% 1.30% <3.00:1.00 >2.50:1.00 0.75% 1.20% No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three (3) Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Leverage Ratio were in excess of 3.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

  • Maximum Commitment Amount means Five Million Dollars ($5,000,000.00).

  • Real-Time Commitment means NYISO’s multi-period security constrained unit commitment and dispatch model, as defined in the NYISO Tariffs.

  • Monthly Uptime Percentage means total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Commitment Utilization Percentage means on any day the percentage equivalent to a fraction (a) the numerator of which is the aggregate outstanding principal amount of Revolving Credit Loans, including the aggregate outstanding principal amount of Letters of Credit, Swingline Loans and Competitive Loans, and (b) the denominator of which is the Total Commitment (or, on any day after termination of the Commitments, the Total Commitment in effect immediately preceding such termination).

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Quarterly Distribution means with respect to each Distribution Date, the distribution to be made to the Holders of the Up-MACRO Tradeable Shares that are Outstanding on the Distribution Date pursuant to Section 5.2(a).

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.