Quarterly Volume Commitment definition

Quarterly Volume Commitment means the product of the Daily Volume Commitment and the number of days in the applicable Quarter.
Sample 1Sample 2
Quarterly Volume Commitment means the product of the Committed Volume set forth on Exhibit 1of the CPTA, multiplied by the number of days in the Contract Quarter. For any partial Calendar Quarter at the beginning or end of the Term, the Volume Commitment shall be based on actual days in the concerned period.
Sample 1
Quarterly Volume Commitment means Shipper’s commitment to ship, or otherwise pay for, each Contract Year of the fifteen (15) year term of this Agreement, at posted Pipeline Tariff Rates as set forth in Exhibit B, which equals a total annual Product volume as determined from Exhibit C. With respect to the required quarterly volume, the volume of Product is equal to: (a) volume per day multiplied by; (b) the number of Days in such Quarter. The Quarterly Volume Commitment will be reduced proportionately for any partial Quarter during the Term. “Representatives” has the meaning set forth in Section 7.1. “Requested Expansion Volume Commitment” has the meaning set forth in Section 6.6. “Shipper Deliveries” means the volume of Product that Shipper as the shipper of record delivered through the Pipeline. “Termination Notice” has the meaning set forth in 5.1. “Tariff” means the intrastate and/or interstate tariffs that set forth the rules, regulations and rates for services on the Pipeline, including supplements thereto and reissues thereof, under which Product is transported through the Pipeline. “Tariff Rates” means the rates set forth in the Tariffs for transportation of Product on the Pipeline. “Term” has the meaning set forth in Section 2.2. “Unsubscribed Capacity” has the meaning set forth in Section 3.9.
Sample 1

Examples of Quarterly Volume Commitment in a sentence

  • The Quarterly Volume Commitment for any Contract Quarter shall be reduced by any volume of Product which Shipper had duly nominated (in accordance with the provisions of Section 5.1 hereof) from the Origin Point(s) (up to 125% of the Quarterly Volume Commitment calculated on daily basis) but was prevented from shipping by an Excused Payment Condition.

  • Once the Quarterly Volume Commitment has been met in each Contract Quarter, Shipper shall have the right, but no further obligation under this Agreement, to ship additional volumes of Product through the Magellan System in such Contract Quarter.

  • Such credits to Shipper shall be applied, on a dollar-for-dollar basis, against the Shipper’s payment obligations for its shipments of Product volumes during that portion of the remainder of the Term of this Agreement as hereinafter set forth, but such credits will not count towards the Quarterly Volume Commitment for the Contract Quarter in which they are used.

  • At no point, shall the Prepaid Transportation amount exceed the product of i) the Quarterly Volume Commitment multiplied by ii) the Tariff Rate in effect for the shipment of Product as published in the Magellan Tariff multiplied by iii) two (2).

  • For purposes of this Agreement, a “Quarterly Deficiency Volume” for a particular Quarter means the amount (in Barrels), determined as of the end of such Quarter, by which the Quarterly Volume Commitment exceeds the total volume (in Barrels) of Shipper’s Crude Oil received by Carrier at an Origin Point during such Quarter under this Agreement.

  • Carrier shall assume for purposes of calculating the Compliance Costs Surcharge that Shipper has transported at least the Quarterly Volume Commitment in all prior periods and that every other shipper that has entered into a transportation services agreement with Carrier (if any) has transported at least its required volume on the Knight Warrior Pipeline, as set forth in that transportation services agreement.

  • The Quarterly Volume Commitment will be reduced proportionately for any partial Quarter during the Term.


More Definitions of Quarterly Volume Commitment

Quarterly Volume Commitment is defined in Section 4.1 hereof.
Sample 1
Quarterly Volume Commitment means Shipper’s commitment to ship, or otherwise pay for, each Contract Year of the fifteen (15) year term of this Agreement, at posted Pipeline Tariff Rates as set forth in Exhibit B, which equals a total annual Product volume as determined from Exhibit C. With respect to the required quarterly volume, the volume of Product is equal to: (a) volume per day multiplied by; (b) the number of Days in such Quarter. The Quarterly Volume Commitment will be reduced proportionately for any partial Quarter during the Term.
Sample 1

Related to Quarterly Volume Commitment

  • Volume Commitment means the agreed upon Customer commitment to purchase, and may be described as an Annual Volume Commitment, Total Volume Commitment, Tiered Volume Commitment, or Subminimum Volume Commitment.

  • 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.

  • Monthly Volume means the product of the Committed Volume multiplied by the number of days in the relevant month.

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

  • 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.

  • 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.

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

  • 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.

  • Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • Quarterly Period the period of three months commencing on 1 January, 1 April, 1 July and 1 October.

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

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

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • 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.

  • Daily Quantity means the quantity of waste discharged during an operating day.

  • Service Volume means a measure of Services for which a Performance Target is set.

  • Service credit year means an accumulation of months of

  • 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.

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

  • Contract Quantity means the quantity of Gas to be delivered and taken as agreed to by the parties in a transaction.

  • PJM Region Peak Load Forecast means the peak load forecast used by the Office of the Interconnection in determining the PJM Region Reliability Requirement, and shall be determined on both a preliminary and final basis as set forth in Tariff, Attachment DD, section 5.

  • 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.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.